Altos Market Data for Realtors
Morton Grove, IL
Single-Family Homes
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Morton Grove, IL
Tue May 30 2023
This week the median list price for Morton Grove, IL is $449,000 with the market action index hovering around 66. This is less than last month's market action index of 70. Inventory has increased to 25.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $449,000 | |
| Median Price of New Listings | $437,000 | |
| Per Square Foot | $270 | |
| Average Days on Market | 55 | |
| Median Days on Market | 14 | |
| Price Decreased | 16% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 25 | |
| Median Rent | ||
| Market Action | 66 | |
| Strong Seller's Market | ||
Though this week saw relatively little price change from last week, the market seems to be show some signs of strength. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $894,500 | 3,977 | 4,500 - 6,500 sqft | 5 | 3.8 | 17 | 1 | 0 | 28 |
| $509,450 | 2,105 | 6,500 - 8,000 sqft | 3 | 2.3 | 63 | 4 | 1 | 10 |
| $427,450 | 1,619 | 6,500 - 8,000 sqft | 3 | 2 | 64 | 3 | 2 | 7 |
| $339,900 | 1,142 | 6,500 - 8,000 sqft | 3 | 2 | 69 | 4 | 2 | 0 |