Morrisville Market Update: Home Prices Drop, But Buyers Are Still Active

Morrisville’s housing market threw a curveball in February. The median sales price dipped to $519,500, marking an 8.9% decline from January. But here’s the twist—closed sales shot up by 22.7%, showing that buyers are jumping in despite the lower prices.

Other key trends:

- Price per square foot increased by 2.9%, meaning home values are holding steady.

- New listings were down a shocking 83.9%, making competition fierce for available homes.

- Median days on the market crept up by 11.4%, giving buyers a little more breathing room.

- The months supply of inventory skyrocketed by 176.2%, offering more options than previous months.

- Sellers are still in a strong position, with list price received exceeding 100.2%.

What does this mean? Morrisville is seeing a shift. Lower prices are attracting buyers, but with inventory still tight, competition remains high. If you're selling, pricing strategically is key. If you're buying, this could be your window to lock in a deal before things heat up again!