Is Monrovia, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Monrovia has remained a Seller's Market.
Key Takeaway
Monrovia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Monrovia, CA cost?
Median Sold Price
$942,000
$606/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Monrovia have sold for 1% less than they did a year ago.
Summary: The median home sold price in Monrovia was $942,000 in August 2023, down 1% from last year, and the median price per square foot was $606.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $482.5K | $620K | +28.5% |
| 2 Bedrooms | $700.7K | $679K | -3.1% |
| 3 Bedrooms | $980K | $950K | -3.1% |
| 4 Bedrooms | $1.1M | $1.2M | +1.6% |
| 5+ Bedrooms | $1.8M | $1.3M | -23.7% |
Summary: Monrovia housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 28.5%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 23.7%.
Housing Supply
How many homes are available in Monrovia, CA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 57 | 65 | +14.0% |
Summary: The Monrovia real estate market had 65 homes for sale in August 2023, a 14.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 20 | 25 | +25.0% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Monrovia housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Monrovia in August 2023, up by 15.4% month-over-month. Of the 15 sold homes, 20% were sold under asking, 13% were sold at asking, and 67% were sold over asking.
Days on Market
How long does it take to sell a home in Monrovia, CA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 21 Days | 20 Days | -3.4% |
Summary: Homes in Monrovia had an average of 20 days on market in Aug 2023, down by 3.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monrovia are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 15 homes were sold in Monrovia; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.