Is Morehead, KY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Morehead has remained a Seller's Market.
Housing Prices in Morehead, KY
How much do homes in Morehead, KY cost?
Median Sold Price
$214,500
$77/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morehead was $214,500 in April 2024, up 4.6% from last year, and the median price per square foot was $77.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $244.5K | $133K | -45.6% |
3 Bedrooms | $173.5K | $215K | +23.9% |
4 Bedrooms | $250K | $217.5K | -13.0% |
5+ Bedrooms | $303K | $472.5K | +55.9% |
Summary: Morehead 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 decreased by 45.6%, 3 bedroom homes increased by 23.9%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 55.9%.
Median Sold Price Compared To Nearby Cities
Morehead | $205K | $214.5K | +4.6% |
Hilda-Triplett | $234.5K | $220K | -6.2% |
Housing Supply in Morehead, KY
How many homes are available in Morehead, KY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 56 | +9.8% |
Summary: The Morehead real estate market had 56 homes for sale in April 2024, a 9.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 7 | -30.0% |
3 Bedrooms | 27 | 28 | +3.7% |
4 Bedrooms | 8 | 13 | +62.5% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Morehead 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 decreased by 30%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 12 | -7.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Morehead in April 2024, down by 7.7% month-over-month. Of the 12 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Morehead, KY
How long does it take to sell a home in Morehead, KY?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 64 Days | +84.3% |
Summary: Homes in Morehead had an average of 64 days on market in Apr 2024, up by 84.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Morehead; 17% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.