Is Morrison, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrison is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Morrison was a Buyer's Market.

Key Takeaway

Morrison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Morrison, IL

How much do homes in Morrison, IL cost?

Median Sold Price

$138,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$23,000(+20.0%)

Key Takeaway

Homes in Morrison have sold for 20% more than they did a year ago.

Summary: The median home sold price in Morrison was $138,000 in April 2024, up 20% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $27.6K$115.5K
+318.5%
2 $92.5K$83K
-10.3%
3 $127.2K$135K
+6.1%
4 $148K$177.5K
+19.9%
5+ $167.4K$273.5K
+63.3%

Summary: Morrison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 318.5%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 63.3%.

Median Sold Price Compared To Nearby Cities

Morrison
+20.0%
Mount Pleasant Township
+1.7%

Housing Supply in Morrison, IL

How many homes are available in Morrison, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
22220.0%

Summary: The Morrison real estate market had 22 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 35
+66.7%
3 1211
-8.3%
4 55
0.0%
5+ 00
0.0%

Summary: The Morrison housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morrison, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Morrison in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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

Apr 2023Apr 2024CHANGE
1 Days32 Days+1832.0%

Summary: Homes in Morrison had an average of 32 days on market in Apr 2024, up by 1832% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morrison are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in Morrison; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 28 Days Ago

Newest Listings in Morrison, IL

Nearby Markets to Morrison, IL

What housing markets are near Morrison, IL?