Is Morganton, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Morganton was a Seller's Market.
Key Takeaway
Morganton is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Morganton, NC
How much do homes in Morganton, NC cost?
Median Sold Price
$264,633
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morganton have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Morganton was $264,633 in May 2024, up 3.8% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207K | $177.5K | -14.3% |
| 2 Bedrooms | $182K | $181K | -0.5% |
| 3 Bedrooms | $253.7K | $281K | +10.7% |
| 4 Bedrooms | $320K | $394K | +23.1% |
| 5+ Bedrooms | $389.4K | $445K | +14.3% |
Summary: Morganton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Quaker Meadows Township | $277.5K | $361K | +30.1% |
| Morganton | $255K | $264.6K | +3.8% |
| Morganton Township | $255K | $263.5K | +3.3% |
| Silver Creek Township | $253K | $240K | -5.1% |
Housing Supply in Morganton, NC
How many homes are available in Morganton, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 210 | 232 | +10.5% |
Summary: The Morganton real estate market had 232 homes for sale in May 2024, a 10.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 37 | 40 | +8.1% |
| 3 Bedrooms | 124 | 131 | +5.6% |
| 4 Bedrooms | 35 | 44 | +25.7% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Morganton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 38 | -20.8% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morganton, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in Morganton in May 2024, down by 20.8% month-over-month. Of the 38 sold homes, 58% were sold under asking, 16% were sold at asking, and 26% were sold over asking.
Days on Market for Morganton, NC
How long does it take to sell a home in Morganton, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 30 Days | -21.3% |
Summary: Homes in Morganton had an average of 30 days on market in May 2024, down by 21.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morganton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 38 homes were sold in Morganton; 68% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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Copyright © 2024 Triad Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. This site will be monitored for ‘scraping’ and any use of search facilities of data on the site other than by potential buyers/sellers is prohibited. All Sale data is for informational purposes only and is not an indication of a market analysis or appraisal. Properties marked with the Triad MLS, Inc. icon are provided courtesy of the Triad MLS, Inc.’s, Internet Data Exchange Database.