Is Morrisville, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Morrisville has remained a Seller's Market.
Key Takeaway
Morrisville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morrisville, NC
How much do homes in Morrisville, NC cost?
Median Sold Price
$520,000
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Morrisville have sold for 4% more than they did a year ago.
Summary: The median home sold price in Morrisville was $520,000 in April 2024, up 4% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $345K | +9.5% |
| 3 Bedrooms | $457K | $435.3K | -4.7% |
| 4 Bedrooms | $610K | $658K | +7.9% |
| 5+ Bedrooms | $834.1K | $852K | +2.1% |
Summary: Morrisville 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 increased by 9.5%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Cary | $564.7K | $595.7K | +5.5% |
| Cary Township | $564.3K | $590K | +4.5% |
| Triangle Township | $420.5K | $438.6K | +4.3% |
| Morrisville | $500K | $520K | +4.0% |
| Cedar Fork Township | $545.8K | $541K | -0.9% |
Housing Supply in Morrisville, NC
How many homes are available in Morrisville, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 75 | +33.9% |
Summary: The Morrisville real estate market had 75 homes for sale in April 2024, a 33.9% 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 | 8 | 10 | +25.0% |
| 3 Bedrooms | 30 | 33 | +10.0% |
| 4 Bedrooms | 12 | 23 | +91.7% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Morrisville 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 25%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 91.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrisville, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Morrisville in April 2024, up by 30.8% month-over-month. Of the 17 sold homes, 18% were sold under asking, 18% were sold at asking, and 65% were sold over asking.
Days on Market for Morrisville, NC
How long does it take to sell a home in Morrisville, NC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 100 Days | 55 Days | -45.4% |
Summary: Homes in Morrisville had an average of 55 days on market in Apr 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morrisville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Morrisville; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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