Is Morganton, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Morganton has remained a Seller's Market.
Key Takeaway
Morganton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morganton, NC
How much do homes in Morganton, NC cost?
Median Sold Price
$267,212
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Morganton have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Morganton was $267,212 in March 2024, up 4.8% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $303.5K | $193.7K | -36.2% |
| 2 Bedrooms | $173K | $183.9K | +6.3% |
| 3 Bedrooms | $250K | $272.9K | +9.2% |
| 4 Bedrooms | $320K | $400K | +25.0% |
| 5+ Bedrooms | $385K | $430K | +11.7% |
Summary: Morganton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.2%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Quaker Meadows Township | $275K | $342.5K | +24.5% |
| Morganton | $255K | $267.2K | +4.8% |
| Morganton Township | $255K | $266.3K | +4.4% |
| Silver Creek Township | $253K | $229K | -9.5% |
| Glen Alpine | $300K | $267.5K | -10.8% |
Housing Supply in Morganton, NC
How many homes are available in Morganton, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 154 | 190 | +23.4% |
Summary: The Morganton real estate market had 190 homes for sale in March 2024, a 23.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 34 | 36 | +5.9% |
| 3 Bedrooms | 86 | 113 | +31.4% |
| 4 Bedrooms | 26 | 29 | +11.5% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Morganton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 31.4%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 33 | +37.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morganton, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Morganton in March 2024, up by 37.5% month-over-month. Of the 33 sold homes, 52% were sold under asking, 27% were sold at asking, and 21% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 37 Days | +17.0% |
Summary: Homes in Morganton had an average of 37 days on market in Mar 2024, up by 17% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 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 March 2024, 33 homes were sold in Morganton; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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