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 November 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 November 2023

+$39,950(+17.0%)

Key Takeaway

Homes in Morton Township have sold for 17% more than they did a year ago.

Summary: The median home sold price in Morton Township was $274,950 in November 2024, up 17% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $160.6K$169K
+5.2%
3 $215K$249.5K
+16.0%
4 $279.9K$367K
+31.1%
5+ $425K$439.9K
+3.5%

Summary: Morton Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 31.1%, and 5+ bedroom homes increased by 3.5%.

Median Sold Price Compared To Nearby Cities

Morton Township
+17.0%
Morton
+17.0%
Groveland Township
+4.4%
Groveland
+3.7%
Tremont Township
-7.7%

Housing Supply in Morton Township, IL

How many homes are available in Morton Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5749-14.0%

Summary: The Morton Township real estate market had 49 homes for sale in November 2024, a 14.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 55
0.0%
3 3325
-24.2%
4 1616
0.0%
5+ 33
0.0%

Summary: The Morton Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 24.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1824+33.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton Township, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in Morton Township in November 2024, up by 33.3% month-over-month. Of the 24 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% 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

Nov 2023Nov 2024CHANGE
23 Days16 Days-30.6%

Summary: Homes in Morton Township had an average of 16 days on market in Nov 2024, down by 30.6% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

4 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 November 2024, 24 homes were sold in Morton Township; 83% of homes were sold within 30 days, 17% 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 2 Days Ago

Newest Listings in Morton Township, IL

Nearby Markets to Morton Township, IL

What housing markets are near Morton Township, IL?