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 October 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

$265,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,500(+0.6%)

Key Takeaway

Homes in Morris have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in Morris was $265,000 in October 2024, up 0.6% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $61K$121.7K
+99.6%
2 $170K$190K
+11.8%
3 $252.4K$259.2K
+2.7%
4 $345.5K$355K
+2.7%
5+ $440K$350K
-20.5%

Summary: Morris housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 99.6%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 20.5%.

Median Sold Price Compared To Nearby Cities

Wauponsee Township
+19.8%
Saratoga Township
+0.7%
Morris
+0.6%
Morris Township
-1.1%

Housing Supply in Morris, IL

How many homes are available in Morris, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6677+16.7%

Summary: The Morris real estate market had 77 homes for sale in October 2024, a 16.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3138
+22.6%
4 1923
+21.1%
5+ 34
+33.3%

Summary: The Morris housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1614-12.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morris, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Morris in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 14% were sold under asking, 21% were sold at asking, and 64% 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

Oct 2023Oct 2024CHANGE
37 Days15 Days-58.0%

Summary: Homes in Morris had an average of 15 days on market in Oct 2024, down by 58% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 October 2024, 14 homes were sold in Morris; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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 9 Days Ago

Newest Listings in Morris, IL

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