Is Monrovia, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monrovia is a seller's market

Buyer's
Market

Difference Since April 2023

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 in Monrovia, IN

How much do homes in Monrovia, IN cost?

Median Sold Price

$280,220

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$7,375(+2.7%)

Key Takeaway

Homes in Monrovia have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Monrovia was $280,220 in April 2024, up 2.7% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $111.5K-
N/A
2 $185K$247.5K
+33.8%
3 $245K$261.4K
+6.7%
4 $289.2K$284.5K
-1.6%
5+ $326.2K$335K
+2.7%

Summary: Monrovia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

Monrovia
+2.7%
Monroe Township
-1.8%

Housing Supply in Monrovia, IN

How many homes are available in Monrovia, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3133+6.5%

Summary: The Monrovia real estate market had 33 homes for sale in April 2024, a 6.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 33
0.0%
3 109
-10.0%
4 1417
+21.4%
5+ 44
0.0%

Summary: The Monrovia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
69+50.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monrovia, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Monrovia in April 2024, up by 50.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.

Days on Market for Monrovia, IN

How long does it take to sell a home in Monrovia, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
29 Days21 Days-26.1%

Summary: Homes in Monrovia had an average of 21 days on market in Apr 2024, down by 26.1% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monrovia are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in Monrovia; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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