Is Morganton, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morganton is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Morganton was a Seller's Market.

Key Takeaway

Morganton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Morganton, NC

How much do homes in Morganton, NC cost?

Median Sold Price

$269,625

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,291(+3.2%)

Key Takeaway

Homes in Morganton have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Morganton was $269,625 in November 2024, up 3.2% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $193.7K$165K
-14.8%
2 $180K$189.9K
+5.5%
3 $269.1K$280K
+4.1%
4 $389.5K$400K
+2.7%
5+ $425K$495K
+16.5%

Summary: Morganton housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 5.5%, 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
+20.2%
Morganton Township
+4.4%
Morganton
+3.2%
Silver Creek Township
+1.1%

Housing Supply in Morganton, NC

How many homes are available in Morganton, NC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
226201-11.1%

Summary: The Morganton real estate market had 201 homes for sale in November 2024, a 11.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 42
-50.0%
2 3532
-8.6%
3 134119
-11.2%
4 3731
-16.2%
5+ 1617
+6.3%

Summary: The Morganton housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes decreased by 16.2%, and 5+ bedroom homes increased by 6.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5726-54.4%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morganton, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Morganton in November 2024, down by 54.4% month-over-month. Of the 26 sold homes, 62% were sold under asking, 12% were sold at asking, and 27% 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

Nov 2023Nov 2024CHANGE
27 Days34 Days+26.4%

Summary: Homes in Morganton had an average of 34 days on market in Nov 2024, up by 26.4% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 26 homes were sold in Morganton; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% 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 17 Days Ago

Newest Listings in Morganton, NC

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