MORGAN COUNTY HOUSING MARKET DATA

There was an increase in total units sold in March, with 19 sold this month in Morgan County Real Estate, an increase of 138%. This month's total units sold is similar compared to a year ago.

Versus last year, the total number of homes available this month is higher by 3 units or 4%. The total number of active inventory this March was 73 compared to 70 in March 2024. This month's supply remained stable as compared to last month.

Last March, the median sale price for Morgan County Homes was $310,000. This March, the median sale price was $329,900, an increase of 6% or $19,900 compared to last year. The current median sold price is 4% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In March, there was 3.8 months of supply available in Morgan County, compared to 3.7 in March 2024. That is an increase of 4% versus 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.

This month there were 28 homes newly listed for sale in Morgan County compared to 29 in March 2024, a decrease of 3%. There were 25 current contracts pending sale this March compared to 20 a year ago. The number of current contracts is 25% higher than last March.

In March, the average sale price in Morgan County was 97.4% of the average list price, which is 2.5% lower than at this time last year.

This month, the average number of days on market was 87, higher than the average last year, which was 45. This increase was impacted by the limited number of sales.





FOCUS ON: MORGAN COUNTY HOUSING MARKET			MARCH 2025

Units Sold 19	Active Inventory 73	Median Sale Price $329,900	Days On Market 87

No Change Vs. Year Ago	Up 4% Vs. Year Ago	Up 6% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 19 sold this month in Morgan County Real Estate, an increase of 138%. This month's total units sold is similar compared to a year ago.
Active Inventory Versus last year, the total number of homes available this month is higher by 3 units or 4%. The total number of active inventory this March was 73 compared to 70 in March 2024. This month's supply remained stable as compared to last month.
		Median Sale Price Last March, the median sale price for Morgan County Homes was $310,000. This March, the median sale price was $329,900, an increase of 6% or $19,900 compared to last year. The current median sold price is 4% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 28	Current Contracts 25	Sold Vs. List Price 97.4%	Months of Supply 3.8

Down -3% Vs. Year Ago	Up 25% Vs. Year Ago	Down -2.5% Vs. Year Ago	Up 4% Vs. Year Ago


		Months of Supply In March, there was 3.8 months of supply available in Morgan County, compared to 3.7 in March 2024. That is an increase of 4% versus 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.
New Listings & Current Contracts This month there were 28 homes newly listed for sale in Morgan County compared to 29 in March 2024, a decrease of 3%. There were 25 current contracts pending sale this March compared to 20 a year ago. The number of current contracts is 25% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Morgan County was 97.4% of the average list price, which is 2.5% lower than at this time last year. Days on Market This month, the average number of days on market was 87, higher than the average last year, which was 45. This increase was impacted by the limited number of sales.



	*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.