Is Morgantown, PA 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, Morgantown has remained a Seller's Market.
Key Takeaway
Morgantown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morgantown, PA
How much do homes in Morgantown, PA cost?
Median Sold Price
$445,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Morgantown have sold for 36.5% more than they did a year ago.
Summary: The median home sold price in Morgantown was $445,000 in March 2024, up 36.5% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $201.5K | $235K | +16.6% |
| 3 Bedrooms | $303K | $300.1K | -1.0% |
| 4 Bedrooms | $500K | $525K | +5.0% |
| 5+ Bedrooms | $650K | $567.5K | -12.7% |
Summary: Morgantown 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 16.6%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 12.7%.
Median Sold Price Compared To Nearby Cities
| Morgantown | $326K | $445K | +36.5% |
| Caernarvon Township | $300K | $327.5K | +9.2% |
| Robeson Township | $459.9K | $430K | -6.5% |
Housing Supply in Morgantown, PA
How many homes are available in Morgantown, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Summary: The Morgantown real estate market had 14 homes for sale in March 2024, a 22.2% decrease 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Morgantown 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 remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morgantown, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Morgantown in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Morgantown, PA
How long does it take to sell a home in Morgantown, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 11 Days | 34 Days | +211.1% |
Summary: Homes in Morgantown had an average of 34 days on market in Mar 2024, up by 211.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morgantown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Morgantown; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
