Is Morningside, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morningside has remained a Seller's Market.
Key Takeaway
Morningside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morningside, PA
How much do homes in Morningside, PA cost?
Median Sold Price
$339,750
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morningside have sold for 21.3% more than they did a year ago.
Summary: The median home sold price in Morningside was $339,750 in May 2024, up 21.3% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | $230K | +9.5% |
| 3 Bedrooms | $281K | $328.5K | +16.9% |
| 4 Bedrooms | $352K | $383K | +8.8% |
| 5+ Bedrooms | $246K | $370K | +50.4% |
Summary: Morningside housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 50.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Morningside | $280K | $339.7K | +21.3% |
| Stanton Heights | $237.5K | $269.1K | +13.3% |
| Highland Park | $448.5K | $479.7K | +7.0% |
Housing Supply in Morningside, PA
How many homes are available in Morningside, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Summary: The Morningside real estate market had 21 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Morningside housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morningside, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Morningside in May 2024, up by 66.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Morningside, PA
How long does it take to sell a home in Morningside, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 38 Days | -3.4% |
Summary: Homes in Morningside had an average of 38 days on market in May 2024, down by 3.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morningside are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Morningside; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
