Is Morriston, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Morriston was a Buyer's Market.
Key Takeaway
Morriston is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Morriston, FL
How much do homes in Morriston, FL cost?
Median Sold Price
$248,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morriston have sold for 37.8% less than they did a year ago.
Summary: The median home sold price in Morriston was $248,000 in May 2024, down 37.8% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449.5K | $53K | -88.2% |
| 2 Bedrooms | $204.4K | $134.4K | -34.2% |
| 3 Bedrooms | $425K | $258.5K | -39.2% |
| 4 Bedrooms | $470K | $246K | -47.7% |
| 5+ Bedrooms | $322K | - | N/A |
Summary: Morriston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 88.2%, 2 bedroom homes decreased by 34.2%, 3 bedroom homes decreased by 39.2%, 4 bedroom homes decreased by 47.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Fellowship | $289.9K | $302.2K | +4.2% |
| Cedar Key-Yankeetown | $244.9K | $254K | +3.7% |
| Williston-Bronson | $245K | $243.5K | -0.6% |
| Morriston | $399K | $248K | -37.8% |
Housing Supply in Morriston, FL
How many homes are available in Morriston, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 24 | -7.7% |
Summary: The Morriston real estate market had 24 homes for sale in May 2024, a 7.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Morriston 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 decreased by 17.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Morriston, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Morriston in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Morriston, FL
How long does it take to sell a home in Morriston, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 90 Days | 29 Days | -67.7% |
Summary: Homes in Morriston had an average of 29 days on market in May 2024, down by 67.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morriston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Morriston; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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