Is Monroe County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Monroe County has remained a Seller's Market.
Key Takeaway
Monroe County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe County, IL
How much do homes in Monroe County, IL cost?
Median Sold Price
$309,300
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monroe County have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Monroe County was $309,300 in March 2024, up 8.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $176K | $112.5K | -36.1% |
| 2 Bedrooms | $185K | $193.7K | +4.7% |
| 3 Bedrooms | $286.1K | $315K | +10.1% |
| 4 Bedrooms | $355K | $360.2K | +1.5% |
| 5+ Bedrooms | $457.5K | $355K | -22.4% |
Summary: Monroe County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.1%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 22.4%.
Median Sold Price Compared To Nearby Counties
| Monroe County | $285K | $309.3K | +8.5% |
| Randolph County | $126K | $134.5K | +6.7% |
| Saint Clair County | $189.8K | $199.4K | +5.0% |
| Saint Louis County | $243.5K | $241.4K | -0.9% |
Housing Supply in Monroe County, IL
How many homes are available in Monroe County, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 85 | 74 | -12.9% |
Summary: The Monroe County real estate market had 74 homes for sale in March 2024, a 12.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 54 | 46 | -14.8% |
| 4 Bedrooms | 18 | 14 | -22.2% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Monroe County housing inventory by bedroom type for March 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 14.8%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 21 | -19.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe County, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Monroe County in March 2024, down by 19.2% month-over-month. Of the 21 sold homes, 29% were sold under asking, 19% were sold at asking, and 52% were sold over asking.
Days on Market for Monroe County, IL
How long does it take to sell a home in Monroe County, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 73 Days | 72 Days | -1.8% |
Summary: Homes in Monroe County had an average of 72 days on market in Mar 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Monroe County has remained consistent over time.
Summary: During March 2024, 21 homes were sold in Monroe County; 19% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.