Is Morehead City, 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, Morehead City has remained a Seller's Market.
Key Takeaway
Morehead City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morehead City, NC
How much do homes in Morehead City, NC cost?
Median Sold Price
$386,333
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Morehead City has remained the same since last year.
Summary: The median home sold price in Morehead City was $386,333 in May 2024, up 0.4% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | - | N/A |
| 2 Bedrooms | $260K | $235.5K | -9.4% |
| 3 Bedrooms | $399.9K | $395K | -1.2% |
| 4 Bedrooms | $484.9K | $593K | +22.3% |
| 5+ Bedrooms | $1.9M | $654K | -66.9% |
Summary: Morehead City 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 9.4%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 66.9%.
Median Sold Price Compared To Nearby Cities
| Morehead Township | $450.2K | $485K | +7.7% |
| Morehead City | $384.8K | $386.3K | 0.4% |
| Beaufort Township | $442.5K | $443K | 0.1% |
Housing Supply in Morehead City, NC
How many homes are available in Morehead City, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 102 | 0.0% |
Summary: The Morehead City real estate market had 102 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 | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 63 | 58 | -7.9% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The Morehead City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morehead City, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Morehead City in May 2024, up by 18.2% month-over-month. Of the 26 sold homes, 54% were sold under asking, 19% were sold at asking, and 27% were sold over asking.
Days on Market for Morehead City, NC
How long does it take to sell a home in Morehead City, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 23 Days | -56.8% |
Summary: Homes in Morehead City had an average of 23 days on market in May 2024, down by 56.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morehead City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Morehead City; 69% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
