Morris

Sales in Morris continue to be as strong in 2014 as they were a year ago. 12 month rolling data shows Morris has only dipped below 230 closed property sales one time since May of 2013 (and that was only as low as 229 in August). Way to go Morris!

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The last two days you’ve seen price per square foot in Braidwood and Coal City. Morris trumps each of those communities with an average price per square foot of $99.85 and a median of $100.87.

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I hear and see this, frequently, on Facebook from my agent friends in the area! “This market is RED HOT, ya all, better jump on it!*” [Very few, if any, actually say ya all.]

The stat nerd in me needs to quench that thirst and see if this is nonsensical jibber jabber made to make them look busier than they are or pressure people on the fence or if there’s actual fact to it. (Everyone gets a pass if they say anything resembling, “I’M so busy,” because I cannot dispute that claim. I can, with factual data, decipher if the market is hotter than it’s been though.

Without further hesitation, check out the graphs below to see if the market IS indeed hot:

What I see is a market that from January 1st to May 27th (closed single family and attached housing) in the three years prior to this year (and this year, obviously) is an unquestioned “heating up” of units closed form 2011 and 2012. It, however, has fallen off about 8.5% from last year.

Since most of my friends here are based out of Morris, I took a gander at just that community as well and see that it’s down about 6.6% from a year ago…..but mostly steady with the past two years (albeit a slightly more expensive mix of homes being sold).

VERDICT? The market, in terms of year-to-date numbers, is definitely NOT heating up. The claims to such could have (and I sure were) made a year ago at this time with factual base but NOW, it looks as if it’s cooled off slightly compared to a year ago.

*If anyone is talking about there being more sales in May than there are in spring/winter….that’s a pretty obvious increase that I’m fairly certain happens almost annually.*

ALL that said…..the market is almost as good as it was a year ago and with low inventories at many price points. Please don’t take this as a statement that it’s not. Things are moving and I wouldn’t be surprised if I could manipulate the data to show it has improved (or that it will actually just be improved over the course of the summer. This autumn, I’ll look at closed houses from June to September and then we’ll see how this summer stacks up versus previous ones.**

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Someone asked me the other day what the percentages were in Morris, IL of folks who listed their home for sale WITH a brokerage located in Morris as opposed to those who listed with an out-of-town brokerage. Here you go:

In Morris, IL in the last 12 months (from 5.20.14), 67.2% of listings (single family and attached housing) to close was listed by an in-town brokerage. Currently, 68.9% of listings are listed with Morris brokerages.

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(This will be Mostly Wordless Wednesday.) Some graffiti is art. I’m not sure this is. This is down under the bridge on Pine Bluff Rd in Morris. I saw it while working on a photo project.

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Great news, Morris! USDA has extended you until 2020! After several years of living 6 months to 6 months, we now have you

Single family housing loans are made possible through guarantees provided by the United States Department of Agriculture, Rural Development.

locked up for 6 years. It wasn’t long ago that I wrote about this.… but it will be a while until I have to again. This is good for both buyers and sellers interested in Morris.

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Brewed Awakenings

February 6, 2014

This is my place of choice in the morning when I head in to the office. I’m a fan of mochas and Brewed Awakenings offers several. I always hit the drive-thru, back on to Rt 47, a quick left onto Waverly and into the parking lot to get my day started. As an added bonus [...]

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Morris Months of Supply

January 31, 2014

I was at a lunch and learn with the lending team of Wells Fargo on Tuesday. The amount of supply of homes came into question as someone mentioned that there was a small supply. Others disagreed and a few threw out numbers. Of course, I didn’t necessarily agree with the numbers tossed out by other [...]

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What’s for sale in Morris?

October 26, 2013

Active Listings Detached Single Bedrooms # Active Avg. LP Avg. MT All 142 $253,585 269 1 – 2 17 $193,959 331 3 73 $211,142 263 4 42 $310,471 243 5 or More 10 $425,860 319 Attached Single Bedrooms # Active Avg. LP Avg. MT All 31 $153,109 478 1 – 2 17 $121,741 325 3 14 $191,199 664

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Courthouse Memorial

October 9, 2013
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