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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morris is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$2,666(+1.1%)

Key Takeaway

Homes in Morris have sold for 1.1% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$105K
N/A
2 $170K$177.5K
+4.4%
3 $250K$252K
+0.8%
4 $338K$355K
+5.0%
5+ $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
+7.3%
Morris Township
+1.6%
Morris
+1.1%
Saratoga Township
+0.9%
Erienna Township
0.1%

Housing Supply in Morris, IL

How many homes are available in Morris, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6476+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1410
-28.6%
3 2431
+29.2%
4 1926
+36.8%
5+ 79
+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 2024May 2024CHANGE
1718+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morris, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

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 2023May 2024CHANGE
32 Days28 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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 Morris, IL

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