Is Morrisville, NC 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, 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
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morrisville have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Morrisville was $520,000 in May 2024, up 5.3% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $347.5K | +10.3% |
| 3 Bedrooms | $449.9K | $445K | -1.1% |
| 4 Bedrooms | $585.9K | $660K | +12.6% |
| 5+ Bedrooms | $828.5K | $861K | +3.9% |
Summary: Morrisville 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 increased by 10.3%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Cary | $562.7K | $596.6K | +6.0% |
| Cary Township | $562.8K | $593K | +5.4% |
| Morrisville | $493.9K | $520K | +5.3% |
| Triangle Township | $419.8K | $440K | +4.8% |
| Cedar Fork Township | $542.4K | $542K | -0.1% |
Housing Supply in Morrisville, NC
How many homes are available in Morrisville, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 74 | 89 | +20.3% |
Summary: The Morrisville real estate market had 89 homes for sale in May 2024, a 20.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 35 | 43 | +22.9% |
| 4 Bedrooms | 20 | 27 | +35.0% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Morrisville 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 increased by 33.3%, 3 bedroom homes increased by 22.9%, 4 bedroom homes increased by 35%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 33 | +94.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrisville, you could pay more than the asking price. 51.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Morrisville in May 2024, up by 94.1% month-over-month. Of the 33 sold homes, 24% were sold under asking, 24% were sold at asking, and 52% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 76 Days | 10 Days | -86.9% |
Summary: Homes in Morrisville had an average of 10 days on market in May 2024, down by 86.9% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 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 May 2024, 33 homes were sold in Morrisville; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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