Is Morrisville, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Morrisville was a Seller's Market.
Key Takeaway
Morrisville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Morrisville, PA
How much do homes in Morrisville, PA cost?
Median Sold Price
$352,500
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Morrisville have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Morrisville was $352,500 in November 2023, up 13.7% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $244.9K | $282.5K | +15.4% |
| 3 Bedrooms | $315K | $325K | +3.2% |
| 4 Bedrooms | $345.5K | $420K | +21.6% |
| 5+ Bedrooms | $450K | $520K | +15.6% |
Summary: Morrisville housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Trenton | $214K | $292K | +36.4% |
| Morrisville | $310K | $352.5K | +13.7% |
| Lower Makefield Township | $565.1K | $604.2K | +6.9% |
| Falls Township | $361K | $370K | +2.5% |
Housing Supply in Morrisville, PA
How many homes are available in Morrisville, PA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 53 | 50 | -5.7% |
Summary: The Morrisville real estate market had 50 homes for sale in November 2023, a 5.7% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 29 | 23 | -20.7% |
| 4 Bedrooms | 18 | 21 | +16.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Morrisville housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 20.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrisville, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Morrisville in November 2023, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for Morrisville, PA
How long does it take to sell a home in Morrisville, PA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 19 Days | 19 Days | +1.3% |
Summary: Homes in Morrisville had an average of 19 days on market in Nov 2023, up by 1.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morrisville are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 8 homes were sold in Morrisville; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
