Is Morristown, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Morristown was a Seller's Market.
Key Takeaway
Morristown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Morristown, AZ
How much do homes in Morristown, AZ cost?
Median Sold Price
$375,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Morristown have sold for 42.6% more than they did a year ago.
Summary: The median home sold price in Morristown was $375,000 in April 2024, up 42.6% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $275K | N/A |
| 2 Bedrooms | $274.9K | $240K | -12.7% |
| 3 Bedrooms | $263K | $521.5K | +98.3% |
| 4 Bedrooms | $275K | $646.5K | +135.1% |
| 5+ Bedrooms | - | $599.2K | N/A |
Summary: Morristown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.7%, 3 bedroom homes increased by 98.3%, 4 bedroom homes increased by 135.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Morristown | $263K | $375K | +42.6% |
| Deer Valley | $600.6K | $615.8K | +2.5% |
| New River | $644.5K | $624.5K | -3.1% |
| Surprise | $444.5K | $429.8K | -3.3% |
Housing Supply in Morristown, AZ
How many homes are available in Morristown, AZ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +54.5% |
Summary: The Morristown real estate market had 17 homes for sale in April 2024, a 54.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 6 | 11 | +83.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Morristown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 83.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morristown, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Morristown in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Morristown, AZ
How long does it take to sell a home in Morristown, AZ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 69 Days | 52 Days | -23.9% |
Summary: Homes in Morristown had an average of 52 days on market in Apr 2024, down by 23.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morristown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Morristown; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.