Is Monroe, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Monroe has remained a Seller's Market.
Housing Prices in Monroe, MI
How much do homes in Monroe, MI cost?
Median Sold Price
$209,900
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monroe was $209,900 in April 2024, up 23.3% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $76.4K | $88.7K | +16.1% |
2 Bedrooms | $133.9K | $150K | +12.0% |
3 Bedrooms | $177K | $205K | +15.8% |
4 Bedrooms | $221K | $286.5K | +29.6% |
5+ Bedrooms | $182K | $313.9K | +72.5% |
Summary: Monroe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 29.6%, and 5+ bedroom homes increased by 72.5%.
Median Sold Price Compared To Nearby Cities
Monroe | $170.2K | $209.9K | +23.3% |
Monroe Charter Township | $180.3K | $209.9K | +16.5% |
Frenchtown Township | $210.2K | $217.5K | +3.4% |
Housing Supply in Monroe, MI
How many homes are available in Monroe, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
179 | 174 | -2.8% |
Summary: The Monroe real estate market had 174 homes for sale in April 2024, a 2.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 41 | 41 | 0.0% |
3 Bedrooms | 90 | 80 | -11.1% |
4 Bedrooms | 32 | 38 | +18.8% |
5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Monroe housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 69 | +16.9% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Monroe in April 2024, up by 16.9% month-over-month. Of the 69 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% were sold over asking.
Days on Market for Monroe, MI
How long does it take to sell a home in Monroe, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
57 Days | 43 Days | -25.0% |
Summary: Homes in Monroe had an average of 43 days on market in Apr 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During April 2024, 69 homes were sold in Monroe; 52% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.