Is Monrovia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Monrovia has remained a Seller's Market.
Housing Prices in Monrovia, MD
How much do homes in Monrovia, MD cost?
Median Sold Price
$628,500
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Monrovia was $628,500 in June 2024, down 3.3% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $425K | - | N/A |
3 Bedrooms | $500.5K | $560K | +11.9% |
4 Bedrooms | $717.5K | $683.7K | -4.7% |
5+ Bedrooms | $813.4K | $850K | +4.5% |
Summary: Monrovia housing prices by bedroom type for June 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 11.9%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
New Market | $540K | $575K | +6.5% |
Mount Airy | $580.8K | $579.9K | -0.1% |
Monrovia | $650K | $628.5K | -3.3% |
Housing Supply in Monrovia, MD
How many homes are available in Monrovia, MD?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
22 | 28 | +27.3% |
Summary: The Monrovia real estate market had 28 homes for sale in June 2024, a 27.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 7 | 4 | -42.9% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 7 | 14 | +100.0% |
Summary: The Monrovia housing inventory by bedroom type for June 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 42.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
7 | 8 | +14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Monrovia in June 2024, up by 14.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
8 Days | 8 Days | +2.0% |
Summary: Homes in Monrovia had an average of 8 days on market in Jun 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 8 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.