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 August 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

$270,000

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$33,000(+13.9%)

Key Takeaway

Homes in Morton Township have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in Morton Township was $270,000 in August 2024, up 13.9% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 --
N/A
2 $181K$157.8K
-12.8%
3 $207.6K$245.7K
+18.3%
4 $286.2K$365K
+27.5%
5+ $421K$460K
+9.3%

Summary: Morton Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 27.5%, and 5+ bedroom homes increased by 9.3%.

Median Sold Price Compared To Nearby Cities

Morton Township
+13.9%
Morton
+13.9%
Groveland Township
+7.5%

Housing Supply in Morton Township, IL

How many homes are available in Morton Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
7165-8.5%

Summary: The Morton Township real estate market had 65 homes for sale in August 2024, a 8.5% decrease compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 55
0.0%
3 2626
0.0%
4 2220
-9.1%
5+ 1814
-22.2%

Summary: The Morton Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
23230.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morton Township, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Morton Township in August 2024, the same as the previous month. Of the 23 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% 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

Aug 2023Aug 2024CHANGE
10 Days9 Days-12.9%

Summary: Homes in Morton Township had an average of 9 days on market in Aug 2024, down by 12.9% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

3 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 23 homes were sold in Morton Township; 87% of homes were sold within 30 days, 13% 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 14 Days Ago

Newest Listings in Morton Township, IL

Nearby Markets to Morton Township, IL

What housing markets are near Morton Township, IL?