Is Morrisville, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrisville is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Morrisville has remained a Seller's Market.

Key Takeaway

Morrisville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Morrisville, NC

How much do homes in Morrisville, NC cost?

Median Sold Price

$515,000

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$23,500(+4.8%)

Key Takeaway

Homes in Morrisville have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Morrisville was $515,000 in June 2024, up 4.8% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 --
N/A
2 $302.5K$347.5K
+14.9%
3 $435K$445K
+2.3%
4 $582.2K$658.5K
+13.1%
5+ $837.9K$855K
+2.0%

Summary: Morrisville housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 2%.

Median Sold Price Compared To Nearby Cities

Cary
+6.2%
Cary Township
+6.2%
Triangle Township
+5.6%
Morrisville
+4.8%
Cedar Fork Township
+3.3%

Housing Supply in Morrisville, NC

How many homes are available in Morrisville, NC?

Number of Homes For Sale

May 2024Jun 2024CHANGE
10089-11.0%

Summary: The Morrisville real estate market had 89 homes for sale in June 2024, a 11.0% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 1310
-23.1%
3 4540
-11.1%
4 3434
0.0%
5+ 85
-37.5%

Summary: The Morrisville housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 37.5%.

Number of Homes Sold

May 2024Jun 2024CHANGE
3522-37.1%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morrisville, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Morrisville in June 2024, down by 37.1% month-over-month. Of the 22 sold homes, 55% were sold under asking, 5% were sold at asking, and 41% were sold over asking.

Days on Market for Morrisville, NC

How long does it take to sell a home in Morrisville, NC?

Average Sale Time

Jun 2023Jun 2024CHANGE
45 Days18 Days-58.8%

Summary: Homes in Morrisville had an average of 18 days on market in Jun 2024, down by 58.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 22 homes were sold in Morrisville; 91% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% 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 19 Days Ago

Newest Listings in Morrisville, NC

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