Is Morrisville, PA 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, 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, PA
How much do homes in Morrisville, PA cost?
Median Sold Price
$360,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morrisville have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Morrisville was $360,000 in May 2024, up 10.8% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $260K | $281.2K | +8.2% |
| 3 Bedrooms | $315K | $334.9K | +6.3% |
| 4 Bedrooms | $415K | $475K | +14.5% |
| 5+ Bedrooms | $450K | $335K | -25.6% |
Summary: Morrisville 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 increased by 8.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes decreased by 25.6%.
Median Sold Price Compared To Nearby Cities
| Trenton | $243.7K | $310K | +27.2% |
| Morrisville | $325K | $360K | +10.8% |
| Falls Township | $365K | $395K | +8.2% |
| Lower Makefield Township | $600.3K | $620.5K | +3.4% |
Housing Supply in Morrisville, PA
How many homes are available in Morrisville, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 31 | +6.9% |
Summary: The Morrisville real estate market had 31 homes for sale in May 2024, a 6.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Morrisville 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrisville, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Morrisville in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Morrisville, PA
How long does it take to sell a home in Morrisville, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 49 Days | +237.9% |
Summary: Homes in Morrisville had an average of 49 days on market in May 2024, up by 237.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morrisville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Morrisville; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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