Is Morrison, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morrison has remained a Seller's Market.
Housing Prices in Morrison, IL
How much do homes in Morrison, IL cost?
Median Sold Price
$135,500
$91/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morrison was $135,500 in May 2024, up 15.4% from last year, and the median price per square foot was $91.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $27.6K | $115.5K | +318.5% |
2 Bedrooms | $88.4K | $83K | -6.2% |
3 Bedrooms | $121.2K | $135.5K | +11.8% |
4 Bedrooms | $148K | $180K | +21.6% |
5+ Bedrooms | $167.4K | $273.5K | +63.3% |
Summary: Morrison housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 318.5%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 63.3%.
Median Sold Price Compared To Nearby Cities
Morrison | $117.4K | $135.5K | +15.4% |
Mount Pleasant Township | $115K | $116.5K | +1.3% |
Housing Supply in Morrison, IL
How many homes are available in Morrison, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 28 | +16.7% |
Summary: The Morrison real estate market had 28 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 11 | 15 | +36.4% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Morrison housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Morrison in May 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Morrison, IL
How long does it take to sell a home in Morrison, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
105 Days | 40 Days | -61.8% |
Summary: Homes in Morrison had an average of 40 days on market in May 2024, down by 61.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Morrison; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.