The housing market in Morris continues to see strong price appreciation, with values up 27.3% compared to last year. Home prices have increased 9.0% in the past month alone. With 23 active listings, inventory is 109% higher than seasonal norms. Homes are now taking an average of 128 days to sell, significantly longer than the 84 days typical for this market. Approximately 40.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Morris market with the affordability index at 1146.0. Looking ahead, the Morris market is expected to maintain its current trajectory with relatively stable conditions.
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