Mount Morris's real estate market is experiencing a price correction, with values down 51.8% from last year. Home prices have decreased 34.2% in the past month. With 4.0 months of supply, Mount Morris's inventory levels remain relatively tight. Homes are now taking an average of 47 days to sell, significantly longer than the 29 days typical for this market. A significant 37.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 50.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Mount Morris market with the affordability index at 128.6. Based on current market indicators, home prices in Mount Morris are projected to increase by approximately 4.3% over the next month.