Is Monroe, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Monroe has remained a Seller's Market.
Key Takeaway
Monroe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe, NC
How much do homes in Monroe, NC cost?
Median Sold Price
$385,420
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Monroe have sold for 8% more than they did a year ago.
Summary: The median home sold price in Monroe was $385,420 in May 2024, up 8% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $125K | N/A |
| 2 Bedrooms | $225.5K | $230K | +2.0% |
| 3 Bedrooms | $334K | $351.6K | +5.3% |
| 4 Bedrooms | $416K | $429.9K | +3.3% |
| 5+ Bedrooms | $485K | $501.9K | +3.5% |
Summary: Monroe housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
| Monroe Township | $350.4K | $383.8K | +9.5% |
| Monroe | $357K | $385.4K | +8.0% |
| Indian Trail | $418.2K | $426.6K | +2.0% |
| Vance Township | $423.7K | $426.4K | +0.6% |
| Unionville | $484.9K | $402.5K | -17.0% |
Housing Supply in Monroe, NC
How many homes are available in Monroe, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 370 | 377 | +1.9% |
Summary: The Monroe real estate market had 377 homes for sale in May 2024, a 1.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 173 | 162 | -6.4% |
| 4 Bedrooms | 117 | 127 | +8.5% |
| 5+ Bedrooms | 62 | 69 | +11.3% |
Summary: The Monroe housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 11.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 106 | 82 | -22.6% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.
Summary: A total of 82 homes were sold or pending in Monroe in May 2024, down by 22.6% month-over-month. Of the 82 sold homes, 41% were sold under asking, 33% were sold at asking, and 26% were sold over asking.
Days on Market for Monroe, NC
How long does it take to sell a home in Monroe, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 30 Days | -10.7% |
Summary: Homes in Monroe had an average of 30 days on market in May 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monroe are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 82 homes were sold in Monroe; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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