Is Morgantown, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morgantown is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Morgantown, IN

How much do homes in Morgantown, IN cost?

Median Sold Price

$342,500

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$62,600(+22.4%)

Key Takeaway

Homes in Morgantown have sold for 22.4% more than they did a year ago.

Summary: The median home sold price in Morgantown was $342,500 in October 2024, up 22.4% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $127K$229K
+80.3%
2 $215K$252K
+17.2%
3 $283.2K$347.5K
+22.7%
4 $319.9K$533.6K
+66.8%
5+ $700K$541.5K
-22.6%

Summary: Morgantown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 80.3%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 66.8%, and 5+ bedroom homes decreased by 22.6%.

Median Sold Price Compared To Nearby Cities

Jackson Township
+72.0%
Morgantown
+22.4%
Morgantown
+9.5%
Hensley Township
+2.0%

Housing Supply in Morgantown, IN

How many homes are available in Morgantown, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2228+27.3%

Summary: The Morgantown real estate market had 28 homes for sale in October 2024, a 27.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 109
-10.0%
3 67
+16.7%
4 48
+100.0%
5+ 13
+200.0%

Summary: The Morgantown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morgantown, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Morgantown in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Morgantown, IN

How long does it take to sell a home in Morgantown, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
62 Days25 Days-59.6%

Summary: Homes in Morgantown had an average of 25 days on market in Oct 2024, down by 59.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 6 homes were sold in Morgantown; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

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