Is Morton Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Morton Grove has remained a Seller's Market.
Housing Prices in Morton Grove, IL
How much do homes in Morton Grove, IL cost?
Median Sold Price
$390,000
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morton Grove was $390,000 in April 2024, up 4% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139K | $152.5K | +9.7% |
2 Bedrooms | $256K | $287.5K | +12.3% |
3 Bedrooms | $385K | $400K | +3.9% |
4 Bedrooms | $439.2K | $466.7K | +6.3% |
5+ Bedrooms | $580K | $680K | +17.2% |
Summary: Morton Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Cities
Niles | $325K | $350.5K | +7.9% |
Skokie | $366.1K | $390K | +6.5% |
Niles Township | $370K | $385.9K | +4.3% |
Morton Grove | $375K | $390K | +4.0% |
Housing Supply in Morton Grove, IL
How many homes are available in Morton Grove, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
70 | 67 | -4.3% |
Summary: The Morton Grove real estate market had 67 homes for sale in April 2024, a 4.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 36 | 32 | -11.1% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Morton Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 27 | +28.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Morton Grove in April 2024, up by 28.6% month-over-month. Of the 27 sold homes, 41% were sold under asking, 19% were sold at asking, and 41% were sold over asking.
Days on Market for Morton Grove, IL
How long does it take to sell a home in Morton Grove, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 20 Days | -13.1% |
Summary: Homes in Morton Grove had an average of 20 days on market in Apr 2024, down by 13.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in Morton Grove; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.