Is Morris, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morris has remained a Seller's Market.
Housing Prices in Morris, IL
How much do homes in Morris, IL cost?
Median Sold Price
$255,166
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morris was $255,166 in May 2024, up 1.1% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $105K | N/A |
2 Bedrooms | $170K | $177.5K | +4.4% |
3 Bedrooms | $250K | $252K | +0.8% |
4 Bedrooms | $338K | $355K | +5.0% |
5+ Bedrooms | $385K | $365K | -5.2% |
Summary: Morris housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
Wauponsee Township | $252.5K | $271K | +7.3% |
Morris Township | $250K | $254K | +1.6% |
Morris | $252.5K | $255.1K | +1.1% |
Saratoga Township | $274.9K | $277.2K | +0.9% |
Erienna Township | $342.5K | $342.7K | 0.1% |
Housing Supply in Morris, IL
How many homes are available in Morris, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
64 | 76 | +18.8% |
Summary: The Morris real estate market had 76 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 14 | 10 | -28.6% |
3 Bedrooms | 24 | 31 | +29.2% |
4 Bedrooms | 19 | 26 | +36.8% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Morris 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 28.6%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 18 | +5.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Morris in May 2024, up by 5.9% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% were sold over asking.
Days on Market for Morris, IL
How long does it take to sell a home in Morris, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 28 Days | -14.0% |
Summary: Homes in Morris had an average of 28 days on market in May 2024, down by 14% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 18 homes were sold in Morris; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.