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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrisville is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Morrisville, NC

How much do homes in Morrisville, NC cost?

Median Sold Price

$501,500

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$3,016(+0.6%)

Key Takeaway

Homes in Morrisville have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in Morrisville was $501,500 in August 2024, up 0.6% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 --
N/A
2 $305K$360K
+18.0%
3 $434K$445.5K
+2.6%
4 $605K$655.7K
+8.4%
5+ $820K$855K
+4.3%

Summary: Morrisville housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Cities

Triangle Township
+6.0%
Cary
+5.7%
Cary Township
+5.7%
Cedar Fork Township
+3.2%
Morrisville
+0.6%

Housing Supply in Morrisville, NC

How many homes are available in Morrisville, NC?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
9294+2.2%

Summary: The Morrisville real estate market had 94 homes for sale in August 2024, a 2.2% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 1311
-15.4%
3 3938
-2.6%
4 3540
+14.3%
5+ 55
0.0%

Summary: The Morrisville housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2118-14.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morrisville, you could pay more than the asking price. 38.9% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Morrisville in August 2024, down by 14.3% month-over-month. Of the 18 sold homes, 33% were sold under asking, 28% were sold at asking, and 39% were sold over asking.

Days on Market for Morrisville, NC

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

Average Sale Time

Aug 2023Aug 2024CHANGE
52 Days15 Days-69.5%

Summary: Homes in Morrisville had an average of 15 days on market in Aug 2024, down by 69.5% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 18 homes were sold in Morrisville; 83% of homes were sold within 30 days, 17% 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 19 Days Ago

Newest Listings in Morrisville, NC

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