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| Focus On: Morgan County Housing Market | October 2023 | ||
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| Units Sold 27 |
Active Inventory 68 |
Median Sale Price $264,900 |
Days On Market 36 |
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| Down Vs. Year Ago |
Down -7% Vs. Year Ago |
Up 15% Vs. Year Ago |
Up 29% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 27 sold this month in Morgan County Real Estate. This month's total units sold was lower than at this time last year, a decrease from October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 7%. The total number of active inventory this October was 68 compared to 73 in October 2022. This month's total of 68 is higher than the previous month's total supply of available inventory of 63, an increase of 8%. |
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Median Sale Price
Last October, the median sale price for Morgan County Homes was $229,500. This October, the median sale price was $264,900, an increase of 15% or $35,400 compared to last year. The current median sold price is 7% lower than in September. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 44 |
Current Contracts 32 |
Sold Vs. List Price 98.0% |
Months of Supply 2.5 |
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| Up 22% Vs. Year Ago |
Up 23% Vs. Year Ago |
No Change Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In October, there was 2.5 months of supply available in Morgan County. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 44 homes newly listed for sale in Morgan County compared to 36 in October 2022, an increase of 22%. There were 32 current contracts pending sale this October compared to 26 a year ago. The number of current contracts is 23% higher than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Morgan County was 98.0% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 36, higher than the average last year, which was 28, an increase of 29%. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
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