Is Morton, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morton is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Morton has remained a Seller's Market.

Key Takeaway

Morton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Morton, IL

How much do homes in Morton, IL cost?

Median Sold Price

$274,000

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$36,000(+15.1%)

Key Takeaway

Homes in Morton have sold for 15.1% more than they did a year ago.

Summary: The median home sold price in Morton was $274,000 in September 2024, up 15.1% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $168.4K$157.8K
-6.3%
3 $214.9K$249K
+15.8%
4 $286.2K$360.2K
+25.9%
5+ $425K$465K
+9.4%

Summary: Morton housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 9.4%.

Median Sold Price Compared To Nearby Cities

Morton
+15.1%
Morton Township
+14.2%
Groveland Township
+6.7%
East Peoria
+5.4%
Groveland
-2.3%

Housing Supply in Morton, IL

How many homes are available in Morton, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6657-13.6%

Summary: The Morton real estate market had 57 homes for sale in September 2024, a 13.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 52
-60.0%
3 2627
+3.8%
4 2220
-9.1%
5+ 138
-38.5%

Summary: The Morton housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 38.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2417-29.2%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Morton in September 2024, down by 29.2% month-over-month. Of the 17 sold homes, 71% were sold under asking, 24% were sold at asking, and 6% were sold over asking.

Days on Market for Morton, IL

How long does it take to sell a home in Morton, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
11 Days22 Days+91.9%

Summary: Homes in Morton had an average of 22 days on market in Sep 2024, up by 91.9% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morton are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 17 homes were sold in Morton; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Morton, IL

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