Is Morningside, MI 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, MI
How much do homes in Morningside, MI cost?
Median Sold Price
$110,000
$74/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morningside have sold for 14.2% less than they did a year ago.
Summary: The median home sold price in Morningside was $110,000 in May 2024, down 14.2% from last year, and the median price per square foot was $74.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $127.5K | $47K | -63.1% |
| 3 Bedrooms | $118.5K | $105K | -11.4% |
| 4 Bedrooms | $169.5K | $141.5K | -16.5% |
| 5+ Bedrooms | $158K | $155K | -1.9% |
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 decreased by 63.1%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 16.5%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Denby | $52.5K | $58K | +10.5% |
| East English Village | $178K | $182.5K | +2.5% |
| Finney | $124.7K | $116K | -7.0% |
| Morningside | $128.2K | $110K | -14.2% |
| Jefferson / Mack | $164.4K | $94K | -42.8% |
Housing Supply in Morningside, MI
How many homes are available in Morningside, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 71 | 0.0% |
Summary: The Morningside real estate market had 71 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 50 | 50 | 0.0% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morningside, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Morningside in May 2024, down by 5.9% month-over-month. Of the 16 sold homes, 56% were sold under asking, 13% were sold at asking, and 31% were sold over asking.
Days on Market for Morningside, MI
How long does it take to sell a home in Morningside, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 52 Days | +18.5% |
Summary: Homes in Morningside had an average of 52 days on market in May 2024, up by 18.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morningside has remained consistent over time.
Summary: During May 2024, 16 homes were sold in Morningside; 38% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
