Is Morrisville, 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, 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
$525,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Morrisville have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Morrisville was $525,000 in March 2024, up 4.9% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $320K | $330K | +3.1% |
| 3 Bedrooms | $464.5K | $440.2K | -5.2% |
| 4 Bedrooms | $612.5K | $658K | +7.4% |
| 5+ Bedrooms | $834.1K | $820K | -1.7% |
Summary: Morrisville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Cities
| Morrisville | $500.2K | $525K | +4.9% |
| Cary | $564.7K | $585.5K | +3.7% |
| Cary Township | $564.2K | $583.5K | +3.4% |
| Triangle Township | $424.9K | $435.3K | +2.4% |
| Cedar Fork Township | $544.6K | $537K | -1.4% |
Housing Supply in Morrisville, NC
How many homes are available in Morrisville, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 57 | +7.5% |
Summary: The Morrisville real estate market had 57 homes for sale in March 2024, a 7.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 25 | 31 | +24.0% |
| 4 Bedrooms | 15 | 13 | -13.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Morrisville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 24%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 12 | -40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrisville, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Morrisville in March 2024, down by 40.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 54 Days | -47.7% |
Summary: Homes in Morrisville had an average of 54 days on market in Mar 2024, down by 47.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morrisville has remained consistent over time.
Summary: During March 2024, 12 homes were sold in Morrisville; 25% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Copyright © 2024 Triangle MLS, Inc. of North Carolina. All rights reserved.