Is Mount Morris, 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, 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
$124,900
$89/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mount Morris was $124,900 in May 2024, down 5.7% from last year, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $98K | $88.7K | -9.4% |
3 Bedrooms | $139.2K | $133.5K | -4.1% |
4 Bedrooms | $150K | $125.5K | -16.3% |
5+ Bedrooms | $90.5K | $193.7K | +114.1% |
Summary: Mount Morris housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.4%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes increased by 114.1%.
Median Sold Price Compared To Nearby Cities
Mount Morris | $132.4K | $124.9K | -5.7% |
Mount Morris Township | $133.2K | $120.9K | -9.2% |
Housing Supply in Mount Morris, IL
How many homes are available in Mount Morris, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Summary: The Mount Morris real estate market had 12 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mount Morris housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
0 | 6 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Mount Morris in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 40 Days | -18.7% |
Summary: Homes in Mount Morris had an average of 40 days on market in May 2024, down by 18.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Mount Morris; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.