Is Morton Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$390,000
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Morton Grove was $390,000 in March 2024, up 4% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $145K | 0.0% |
2 Bedrooms | $260K | $287.5K | +10.6% |
3 Bedrooms | $389.9K | $400K | +2.6% |
4 Bedrooms | $446.7K | $465K | +4.1% |
5+ Bedrooms | $545K | $665K | +22.0% |
Summary: Morton Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 22%.
Median Sold Price Compared To Nearby Cities
Niles | $325K | $350K | +7.7% |
Skokie | $367.4K | $390K | +6.1% |
Morton Grove | $375K | $390K | +4.0% |
Niles Township | $370K | $383.9K | +3.8% |
Housing Supply in Morton Grove, IL
How many homes are available in Morton Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
59 | 71 | +20.3% |
Summary: The Morton Grove real estate market had 71 homes for sale in March 2024, a 20.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 12 | 16 | +33.3% |
3 Bedrooms | 29 | 36 | +24.1% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Morton Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 20 | +81.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Morton Grove in March 2024, up by 81.8% month-over-month. Of the 20 sold homes, 45% were sold under asking, 10% were sold at asking, and 45% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 19 Days | -42.0% |
Summary: Homes in Morton Grove had an average of 19 days on market in Mar 2024, down by 42% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in Morton Grove; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.