Is Mount Morris, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mount Morris is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Mount Morris, IL

How much do homes in Mount Morris, IL cost?

Median Sold Price

$124,900

$90/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$7,500(-5.7%)

Key Takeaway

Homes in Mount Morris have sold for 5.7% less than they did a year ago.

Summary: The median home sold price in Mount Morris was $124,900 in November 2024, down 5.7% from last year, and the median price per square foot was $90.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$94K
N/A
2 $98K$110K
+12.2%
3 $132.3K$170.2K
+28.6%
4 $176K$112.5K
-36.1%
5+ $135.2K$207.5K
+53.4%

Summary: Mount Morris 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 12.2%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 36.1%, and 5+ bedroom homes increased by 53.4%.

Median Sold Price Compared To Nearby Cities

Mount Morris Township
-5.6%
Mount Morris
-5.7%

Housing Supply in Mount Morris, IL

How many homes are available in Mount Morris, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
770.0%

Summary: The Mount Morris real estate market had 7 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 46
+50.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The Mount Morris 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 decreased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mount Morris, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Mount Morris in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Mount Morris, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
2 Days22 Days+700.0%

Summary: Homes in Mount Morris had an average of 22 days on market in Nov 2024, up by 700% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 3 homes were sold in Mount Morris; 67% of homes were sold within 30 days, 33% 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 Mount Morris, IL

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