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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monticello is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Monticello, IL

How much do homes in Monticello, IL cost?

Median Sold Price

$253,800

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$73,800(+41.0%)

Key Takeaway

Homes in Monticello have sold for 41% more than they did a year ago.

Summary: The median home sold price in Monticello was $253,800 in May 2024, up 41% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $135K$120K
-11.1%
2 $118.7K$157.9K
+33.0%
3 $205K$255K
+24.4%
4 $310K$347.9K
+12.2%
5+ $277.5K$230K
-17.1%

Summary: Monticello housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 33%, 3 bedroom homes increased by 24.4%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 17.1%.

Median Sold Price Compared To Nearby Cities

Monticello Township
+41.7%
Monticello
+41.0%
Sangamon Township
+4.2%

Housing Supply in Monticello, IL

How many homes are available in Monticello, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3437+8.8%

Summary: The Monticello real estate market had 37 homes for sale in May 2024, a 8.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1517
+13.3%
4 1112
+9.1%
5+ 12
+100.0%

Summary: The Monticello housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
616+166.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monticello, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Monticello in May 2024, up by 166.7% month-over-month. Of the 16 sold homes, 56% were sold under asking, 19% were sold at asking, and 25% were sold over asking.

Days on Market for Monticello, IL

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

Average Sale Time

May 2023May 2024CHANGE
34 Days40 Days+19.7%

Summary: Homes in Monticello had an average of 40 days on market in May 2024, up by 19.7% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 16 homes were sold in Monticello; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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 1 Day Ago

Newest Listings in Monticello, IL

Nearby Markets to Monticello, IL