Is Morehead Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morehead Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Morehead Township has remained a Seller's Market.

Key Takeaway

Morehead Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Morehead Township, NC

How much do homes in Morehead Township, NC cost?

Median Sold Price

$294,774

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$24,095(+8.9%)

Key Takeaway

Homes in Morehead Township have sold for 8.9% more than they did a year ago.

Summary: The median home sold price in Morehead Township was $294,774 in May 2024, up 8.9% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $145K$144.7K
-0.2%
2 $171.3K$192.4K
+12.3%
3 $260K$285K
+9.6%
4 $405K$430K
+6.2%
5+ $605K$625K
+3.3%

Summary: Morehead Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.2%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Morehead Township
+8.9%
Greensboro
+5.6%
Friendship Township
+3.6%
Bruce Township
+3.0%
Deep River Township
-4.1%

Housing Supply in Morehead Township, NC

How many homes are available in Morehead Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
675689+2.1%

Summary: The Morehead Township real estate market had 689 homes for sale in May 2024, a 2.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 68
+33.3%
2 139129
-7.2%
3 320338
+5.6%
4 152160
+5.3%
5+ 5854
-6.9%

Summary: The Morehead Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 6.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
218198-9.2%

Asking Price vs. Sold Price

95 Homes Were Sold
Under Asking

38 Homes Were Sold
At Asking

65 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morehead Township, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 198 homes were sold or pending in Morehead Township in May 2024, down by 9.2% month-over-month. Of the 198 sold homes, 48% were sold under asking, 19% were sold at asking, and 33% were sold over asking.

Days on Market for Morehead Township, NC

How long does it take to sell a home in Morehead Township, NC?

Average Sale Time

May 2023May 2024CHANGE
11 Days23 Days+95.5%

Summary: Homes in Morehead Township had an average of 23 days on market in May 2024, up by 95.5% compared to last year.

Breakdown of Home Sale Times

148 Homes Were Sold
Under 30 Days

37 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morehead Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 198 homes were sold in Morehead Township; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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