Is Morley, MI 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, Morley has remained a Seller's Market.
Key Takeaway
Morley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morley, MI
How much do homes in Morley, MI cost?
Median Sold Price
$115,750
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Morley have sold for 11% less than they did a year ago.
Summary: The median home sold price in Morley was $115,750 in April 2024, down 11% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74K | $80K | +8.1% |
| 2 Bedrooms | $132.5K | $115.7K | -12.6% |
| 3 Bedrooms | $335K | $295K | -11.9% |
| 4 Bedrooms | $340K | $305K | -10.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Morley housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes decreased by 12.6%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes did not change.
Housing Supply in Morley, MI
How many homes are available in Morley, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Summary: The Morley real estate market had 9 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Morley housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morley, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Morley in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Morley, MI
How long does it take to sell a home in Morley, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morley has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Morley; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
