Is Morton Grove, IL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Morton Grove is a seller's market


Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in Morton Grove, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Morton Grove have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Morton Grove was $380,000 in August 2023, up 5.6% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $131K$152.5K
2 $270K$278K
3 $380K$390K
4 $442.5K$456K
5+ $525K$605K

Summary: Morton Grove housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Cities

Morton Grove
Niles Township

Housing Supply

How many homes are available in Morton Grove, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Morton Grove real estate market had 78 homes for sale in August 2023, a 5.4% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 13
2 1212
3 4244
4 1211
5+ 78

Summary: The Morton Grove housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton Grove, you could pay more than the asking price. 52% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Morton Grove in August 2023, down by 16.7% month-over-month. Of the 25 sold homes, 44% were sold under asking, 4% were sold at asking, and 52% were sold over asking.

Days on Market

How long does it take to sell a home in Morton Grove, IL?

Average Sale Time

Aug 2022Aug 2023CHANGE
27 Days10 Days-61.0%

Summary: Homes in Morton Grove had an average of 10 days on market in Aug 2023, down by 61% compared to last year.

Breakdown of Home Sale Times

23 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 Morton Grove are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 25 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

Newest Listings

Nearby Markets

What housing markets are near Morton Grove, IL?