Is Morningside, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morningside has remained a Seller's Market.
Key Takeaway
Morningside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morningside, OR
How much do homes in Morningside, OR cost?
Median Sold Price
$427,500
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morningside have sold for 6.4% less than they did a year ago.
Summary: The median home sold price in Morningside was $427,500 in May 2024, down 6.4% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319.9K | - | N/A |
| 2 Bedrooms | $610.5K | $361K | -40.9% |
| 3 Bedrooms | $456.5K | $425K | -6.9% |
| 4 Bedrooms | $485K | $597.5K | +23.2% |
| 5+ Bedrooms | $744.9K | $535K | -28.2% |
Summary: Morningside housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 40.9%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 23.2%, and 5+ bedroom homes decreased by 28.2%.
Housing Supply in Morningside, OR
How many homes are available in Morningside, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 35 | 0.0% |
Summary: The Morningside real estate market had 35 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 3 | 7 | +133.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Morningside 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 decreased by 50%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 133.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morningside, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Morningside in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Morningside, OR
How long does it take to sell a home in Morningside, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 76 Days | +42.3% |
Summary: Homes in Morningside had an average of 76 days on market in May 2024, up by 42.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morningside are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Morningside; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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