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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morton Township is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Morton Township, IL

How much do homes in Morton Township, IL cost?

Median Sold Price

$246,000

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$18,250(+8.0%)

Key Takeaway

Homes in Morton Township have sold for 8% more than they did a year ago.

Summary: The median home sold price in Morton Township was $246,000 in April 2024, up 8% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $83K-
N/A
2 $147.5K$168.4K
+14.1%
3 $186.5K$220.7K
+18.4%
4 $292.5K$280K
-4.3%
5+ $432.5K$425K
-1.7%

Summary: Morton Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 18.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 1.7%.

Median Sold Price Compared To Nearby Cities

Groveland Township
+13.9%
Morton
+8.1%
Morton Township
+8.0%
Tremont Township
-10.8%

Housing Supply in Morton Township, IL

How many homes are available in Morton Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
52520.0%

Summary: The Morton Township real estate market had 52 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 74
-42.9%
3 2321
-8.7%
4 1417
+21.4%
5+ 810
+25.0%

Summary: The Morton Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1621+31.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 21 homes were sold or pending in Morton Township in April 2024, up by 31.3% month-over-month. Of the 21 sold homes, 33% were sold under asking, 24% were sold at asking, and 43% were sold over asking.

Days on Market for Morton Township, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
31 Days5 Days-81.7%

Summary: Homes in Morton Township had an average of 5 days on market in Apr 2024, down by 81.7% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morton Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 21 homes were sold in Morton Township; 95% of homes were sold within 30 days, 5% 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 6 Days Ago

Newest Listings in Morton Township, IL

Nearby Markets to Morton Township, IL

What housing markets are near Morton Township, IL?