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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monrovia is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Monrovia was a Seller's Market.

Key Takeaway

Monrovia is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Monrovia, MD

How much do homes in Monrovia, MD cost?

Median Sold Price

$650,000

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,000(+4.0%)

Key Takeaway

Homes in Monrovia have sold for 4% more than they did a year ago.

Summary: The median home sold price in Monrovia was $650,000 in May 2024, up 4% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $425K-
N/A
3 $481.1K$550K
+14.3%
4 $672.5K$702K
+4.4%
5+ $816K$840K
+2.9%

Summary: Monrovia 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 did not change, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 2.9%.

Median Sold Price Compared To Nearby Cities

New Market
+11.5%
Monrovia
+4.0%
Mount Airy
-2.2%

Housing Supply in Monrovia, MD

How many homes are available in Monrovia, MD?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2025+25.0%

Summary: The Monrovia real estate market had 25 homes for sale in May 2024, a 25.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 87
-12.5%
4 810
+25.0%
5+ 48
+100.0%

Summary: The Monrovia 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monrovia, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Monrovia in May 2024, down by 50.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 75% were sold at asking, and 25% were sold over asking.

Days on Market for Monrovia, MD

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

Average Sale Time

May 2023May 2024CHANGE
24 Days8 Days-65.0%

Summary: Homes in Monrovia had an average of 8 days on market in May 2024, down by 65% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 May 2024, 4 homes were sold in Monrovia; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

Newest Listings in Monrovia, MD

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