Welcome to the Morganton 2022 Mid-Year Report.
The Morganton area market continues to see strong demand by buyers, who seem unfazed by higher interest rates and even higher prices. Buyers from across the country are moving to Burke County, many making over list price offers, sight unseen. This competition has pushed buyers to make strong offers with unparalleled due diligence fees, little to no financing, and few repair requests. There have been buyers affected by the higher interest rates, causing them to take a pause, but it hasn’t been enough for a market shift. With the higher interest rates, we do expect our market to soften, but only a little. We still predict a strong seller’s market for the foreseeable future.
Morganton is continuing to flourish with the opening of our newly renovated square, where we’ve been enjoying music on Friday nights, and the Sunday Pops series is a fun outing, too. Murphy’s Farm, our first luxury apartments, opened over the summer; and the North Carolina School of Science and Math is set to open this fall.
It’s great that others are seeing what we’ve always known…there is no place like Morganton and Burke County!
Please find the downloadable PDF version of our full Morganton area Mid-Year Report here: Morganton_MidYearReport_2022