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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morton Township is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Morton Township, IL

How much do homes in Morton Township, IL cost?

Median Sold Price

$274,950

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$34,950(+14.6%)

Key Takeaway

Homes in Morton Township have sold for 14.6% more than they did a year ago.

Summary: The median home sold price in Morton Township was $274,950 in December 2024, up 14.6% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $160.6K$169.9K
+5.8%
3 $216.2K$245.7K
+13.6%
4 $279.9K$365K
+30.4%
5+ $432K$439.9K
+1.8%

Summary: Morton Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes increased by 1.8%.

Median Sold Price Compared To Nearby Cities

Morton Township
+14.6%
Morton
+14.6%
Groveland Township
+0.6%

Housing Supply in Morton Township, IL

How many homes are available in Morton Township, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
5033-34.0%

Summary: The Morton Township real estate market had 33 homes for sale in December 2024, a 34.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 61
-83.3%
3 2416
-33.3%
4 1714
-17.6%
5+ 32
-33.3%

Summary: The Morton Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 83.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
269-65.4%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Morton Township in December 2024, down by 65.4% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Morton Township, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
28 Days14 Days-48.6%

Summary: Homes in Morton Township had an average of 14 days on market in Dec 2024, down by 48.6% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 9 homes were sold in Morton Township; 78% of homes were sold within 30 days, 22% 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 4 Days Ago

Newest Listings in Morton Township, IL

Nearby Markets to Morton Township, IL

What housing markets are near Morton Township, IL?