Listing Office: N C Land and Lots LLC
Is Morganton, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Morganton has remained a Seller's Market.
Key Takeaway
Morganton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morganton, NC
How much do homes in Morganton, NC cost?
Median Sold Price
$265,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,450(+0.9%)
Key Takeaway
Homes in Morganton have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Morganton was $265,000 in October 2024, up 0.9% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $177.5K | -10.1% |
| 2 Bedrooms | $183K | $181K | -1.1% |
| 3 Bedrooms | $268.9K | $280K | +4.1% |
| 4 Bedrooms | $389.5K | $400K | +2.7% |
| 5+ Bedrooms | $425K | $495K | +16.5% |
Summary: Morganton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.1%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Cities
| Quaker Meadows Township | $315K | $385K | +22.2% |
| Silver Creek Township | $234.2K | $250K | +6.7% |
| Morganton | $262.5K | $265K | +0.9% |
| Morganton Township | $265K | $265.3K | 0.1% |
Housing Supply in Morganton, NC
How many homes are available in Morganton, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 229 | 234 | +2.2% |
Summary: The Morganton real estate market had 234 homes for sale in October 2024, a 2.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 36 | 36 | 0.0% |
| 3 Bedrooms | 128 | 135 | +5.5% |
| 4 Bedrooms | 44 | 41 | -6.8% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Morganton 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 remained the same, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 53 | +71.0% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morganton, you may be able to get a good deal. 71.7% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Morganton in October 2024, up by 71.0% month-over-month. Of the 53 sold homes, 72% were sold under asking, 19% were sold at asking, and 9% were sold over asking.
Days on Market for Morganton, NC
How long does it take to sell a home in Morganton, NC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 40 Days | +90.5% |
Summary: Homes in Morganton had an average of 40 days on market in Oct 2024, up by 90.5% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morganton are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 53 homes were sold in Morganton; 57% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.