Is Morgan County, WV 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, Morgan County has remained a Buyer's Market.
Key Takeaway
Morgan County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Morgan County, WV
How much do homes in Morgan County, WV cost?
Median Sold Price
$289,900
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Morgan County have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Morgan County was $289,900 in March 2024, up 7.4% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158.5K | $170K | +7.2% |
| 2 Bedrooms | $220K | $220K | 0.0% |
| 3 Bedrooms | $277.5K | $302.5K | +9.0% |
| 4 Bedrooms | $395K | $345K | -12.7% |
| 5+ Bedrooms | $585K | $310K | -47.0% |
Summary: Morgan County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes decreased by 47%.
Median Sold Price Compared To Nearby Counties
| Hampshire County | $210K | $249.9K | +19.0% |
| Washington County | $277.5K | $309.5K | +11.5% |
| Morgan County | $270K | $289.9K | +7.4% |
| Berkeley County | $274.9K | $292.7K | +6.5% |
| Allegany County | $134.9K | $135.4K | 0.4% |
Housing Supply in Morgan County, WV
How many homes are available in Morgan County, WV?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 165 | 155 | -6.1% |
Summary: The Morgan County real estate market had 155 homes for sale in March 2024, a 6.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 33 | 32 | -3.0% |
| 3 Bedrooms | 84 | 76 | -9.5% |
| 4 Bedrooms | 31 | 29 | -6.5% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Morgan County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 14 | -50.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morgan County, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Morgan County in March 2024, down by 50.0% month-over-month. Of the 14 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Morgan County, WV
How long does it take to sell a home in Morgan County, WV?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 31 Days | -61.6% |
Summary: Homes in Morgan County had an average of 31 days on market in Mar 2024, down by 61.6% compared to last year.
Breakdown of Home Sale Times
10 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 Morgan County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in Morgan County; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
