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 March 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

$252,600

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$62,700(+33.0%)

Key Takeaway

Homes in Monticello have sold for 33% more than they did a year ago.

Summary: The median home sold price in Monticello was $252,600 in March 2024, up 33% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $135K$120K
-11.1%
2 $120K$140.9K
+17.4%
3 $200K$269.9K
+34.9%
4 $315K$302.4K
-4.0%
5+ $277.5K-
N/A

Summary: Monticello housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 34.9%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Monticello Township
+36.2%
Monticello
+33.0%

Housing Supply in Monticello, IL

How many homes are available in Monticello, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2527+8.0%

Summary: The Monticello real estate market had 27 homes for sale in March 2024, a 8.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 68
+33.3%
3 1211
-8.3%
4 56
+20.0%
5+ 22
0.0%

Summary: The Monticello housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
37+133.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monticello, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Monticello in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% 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

Mar 2023Mar 2024CHANGE
96 Days63 Days-34.2%

Summary: Homes in Monticello had an average of 63 days on market in Mar 2024, down by 34.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Monticello are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 7 homes were sold in Monticello; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% 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 23 Days Ago

Newest Listings in Monticello, IL

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