Homes In Morgan County Selling Much Faster Compared To One Year Ago

By ACRE Research

Sales: According to ValleyMLS.com, Morgan County residential sales totaled 100 units during February, up 11.1 percent from 90 sales in the same month a year earlier. February sales decreased 2.9 percent from 103 sales in January. Results were 7.1 percent above the five-year February average of 93 sales. Two more resources to review: Quarterly Report and the Annual Report.

For all Morgan County home sales data, click here.

Inventory: Homes listed for sale in Morgan County in February totaled 356 units, a decrease of 32.3 percent from February 2018’s 526 units, and a decrease of 8.7 percent from January 2019’s 399 units. The February months of supply totaled 3.6 months, a decrease of 39.1 percent from February 2018’s 5.8 months of supply. February’s months of supply decreased 6 percent from January’s 3.8 months of supply.Pricing: The Morgan County median sales price in February was $144,900, an increase of 15 percent from one year ago and an increase of 7.3 percent from the prior month. This direction is consistent with historical data (2014-18) indicating that the February median sales price on average increases from January by 2.5 percent. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood. The average number of days on the market (DOM) for the homes sold during February was 75 days, a decrease of 22.7 percent from 97 days in February 2018 and a decrease of 1.3 percent from 76 days in January.

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