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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morton Grove is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Morton Grove, IL

How much do homes in Morton Grove, IL cost?

Median Sold Price

$420,000

$251/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$39,666(+10.4%)

Key Takeaway

Homes in Morton Grove have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in Morton Grove was $420,000 in December 2024, up 10.4% from last year, and the median price per square foot was $251.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $142.5K$174K
+22.1%
2 $282K$330.5K
+17.2%
3 $395K$435K
+10.1%
4 $455K$499K
+9.7%
5+ $575K$601K
+4.5%

Summary: Morton Grove housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Morton Grove
+10.4%
Niles
+8.9%
Skokie
+8.4%
Niles Township
+7.5%

Housing Supply in Morton Grove, IL

How many homes are available in Morton Grove, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
7674-2.6%

Summary: The Morton Grove real estate market had 74 homes for sale in December 2024, a 2.6% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 12
+100.0%
2 2226
+18.2%
3 3432
-5.9%
4 138
-38.5%
5+ 66
0.0%

Summary: The Morton Grove housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 38.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
22220.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton Grove, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Morton Grove in December 2024, the same as the previous month. Of the 22 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.

Days on Market for Morton Grove, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
18 Days27 Days+53.1%

Summary: Homes in Morton Grove had an average of 27 days on market in Dec 2024, up by 53.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 22 homes were sold in Morton Grove; 50% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 5% 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 4 Days Ago

Newest Listings in Morton Grove, IL

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