Is Morristown, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morristown is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Morristown was a Seller's Market.

Key Takeaway

Morristown 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 Morristown, IN

How much do homes in Morristown, IN cost?

Median Sold Price

$232,450

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$76,200(+48.8%)

Key Takeaway

Homes in Morristown have sold for 48.8% more than they did a year ago.

Summary: The median home sold price in Morristown was $232,450 in April 2024, up 48.8% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $130K$146K
+12.3%
3 $175K$232.4K
+32.8%
4 $152.5K$300K
+96.7%
5+ $300K-
N/A

Summary: Morristown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 32.8%, 4 bedroom homes increased by 96.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Morristown
+48.8%
Hanover Township
-11.1%

Housing Supply in Morristown, IN

How many homes are available in Morristown, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
46+50.0%

Summary: The Morristown real estate market had 6 homes for sale in April 2024, a 50.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 46
+50.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Morristown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morristown, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Morristown in April 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Morristown, IN

How long does it take to sell a home in Morristown, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
92 Days7 Days-92.4%

Summary: Homes in Morristown had an average of 7 days on market in Apr 2024, down by 92.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morristown are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 1 homes were sold in Morristown; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

Newest Listings in Morristown, IN

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