Is Mount Morris, 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, Mount Morris has remained a Seller's Market.
Housing Prices in Mount Morris, IL
How much do homes in Mount Morris, IL cost?
Median Sold Price
$121,000
$82/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Mount Morris was $121,000 in March 2024, down 9.7% from last year, and the median price per square foot was $82.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $95K | $96K | +1.1% |
3 Bedrooms | $151.2K | $132K | -12.7% |
4 Bedrooms | $150K | $169.9K | +13.3% |
5+ Bedrooms | $90.5K | $180K | +98.9% |
Summary: Mount Morris 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 1.1%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 98.9%.
Median Sold Price Compared To Nearby Cities
Mount Morris | $134K | $121K | -9.7% |
Mount Morris Township | $134.7K | $117K | -13.2% |
Housing Supply in Mount Morris, IL
How many homes are available in Mount Morris, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Summary: The Mount Morris real estate market had 8 homes for sale in March 2024, a 11.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Mount Morris housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Mount Morris in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Mount Morris, IL
How long does it take to sell a home in Mount Morris, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 55 Days | +232.0% |
Summary: Homes in Mount Morris had an average of 55 days on market in Mar 2024, up by 232% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Mount Morris; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.