Is Morton Grove, 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, Morton Grove has remained a Seller's Market.
Housing Prices in Morton Grove, IL
How much do homes in Morton Grove, IL cost?
Median Sold Price
$395,666
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morton Grove was $395,666 in May 2024, up 5.5% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $147.5K | $157.5K | +6.8% |
2 Bedrooms | $253K | $299.5K | +18.4% |
3 Bedrooms | $385K | $401.5K | +4.3% |
4 Bedrooms | $450K | $457.5K | +1.7% |
5+ Bedrooms | $592.5K | $720K | +21.5% |
Summary: Morton Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 21.5%.
Median Sold Price Compared To Nearby Cities
Niles | $325K | $357.6K | +10.0% |
Morton Grove | $374.9K | $395.6K | +5.5% |
Skokie | $370K | $389.9K | +5.4% |
Niles Township | $370K | $389.3K | +5.2% |
Housing Supply in Morton Grove, IL
How many homes are available in Morton Grove, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 74 | +19.4% |
Summary: The Morton Grove real estate market had 74 homes for sale in May 2024, a 19.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 17 | 15 | -11.8% |
3 Bedrooms | 27 | 36 | +33.3% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Morton Grove 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 11.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 13 | -53.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Morton Grove in May 2024, down by 53.6% month-over-month. Of the 13 sold homes, 15% were sold under asking, 15% were sold at asking, and 69% were sold over asking.
Days on Market for Morton Grove, IL
How long does it take to sell a home in Morton Grove, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 7 Days | -48.7% |
Summary: Homes in Morton Grove had an average of 7 days on market in May 2024, down by 48.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Morton Grove; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.