Is Morehead Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morehead Township has remained a Seller's Market.
Key Takeaway
Morehead Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morehead Township, NC
How much do homes in Morehead Township, NC cost?
Median Sold Price
$485,000
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morehead Township have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Morehead Township was $485,000 in May 2024, up 7.7% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $167.5K | +15.5% |
| 2 Bedrooms | $383.7K | $417.5K | +8.8% |
| 3 Bedrooms | $454.8K | $484K | +6.4% |
| 4 Bedrooms | $640K | $715K | +11.7% |
| 5+ Bedrooms | $1.3M | $1.2M | -7.1% |
Summary: Morehead Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Newport Township | $320K | $352.4K | +10.2% |
| Newport | $324.9K | $352.4K | +8.5% |
| Morehead Township | $450.2K | $485K | +7.7% |
| Indian Beach | $600K | $606K | +1.0% |
| Pine Knoll Shores | $670K | $640K | -4.5% |
Housing Supply in Morehead Township, NC
How many homes are available in Morehead Township, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 256 | 257 | 0.4% |
Summary: The Morehead Township real estate market had 257 homes for sale in May 2024, a 0.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 16 | -5.9% |
| 2 Bedrooms | 67 | 65 | -3.0% |
| 3 Bedrooms | 118 | 119 | +0.8% |
| 4 Bedrooms | 40 | 38 | -5.0% |
| 5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The Morehead Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 52 | -7.1% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morehead Township, you may be able to get a good deal. 63.5% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Morehead Township in May 2024, down by 7.1% month-over-month. Of the 52 sold homes, 63% were sold under asking, 19% were sold at asking, and 17% were sold over asking.
Days on Market for Morehead Township, NC
How long does it take to sell a home in Morehead Township, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 60 Days | +22.9% |
Summary: Homes in Morehead Township had an average of 60 days on market in May 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morehead Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 52 homes were sold in Morehead Township; 52% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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