Is Monrovia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Monrovia was a Neutral Market.
Key Takeaway
Monrovia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Monrovia, MD
How much do homes in Monrovia, MD cost?
Median Sold Price
$650,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monrovia have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Monrovia was $650,000 in March 2024, down 2.3% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | - | N/A |
| 3 Bedrooms | $481.1K | $539.9K | +12.2% |
| 4 Bedrooms | $677.9K | $699.9K | +3.2% |
| 5+ Bedrooms | $791K | $870K | +10.0% |
Summary: Monrovia housing prices by bedroom type for March 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 12.2%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| New Market | $510.4K | $575K | +12.6% |
| Monrovia | $665K | $650K | -2.3% |
| Mount Airy | $588K | $570K | -3.1% |
Housing Supply in Monrovia, MD
How many homes are available in Monrovia, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 43 | +13.2% |
Summary: The Monrovia real estate market had 43 homes for sale in March 2024, a 13.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The Monrovia housing inventory by bedroom type for March 2024 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 30%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Monrovia in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 11 Days | 5 Days | -55.5% |
Summary: Homes in Monrovia had an average of 5 days on market in Mar 2024, down by 55.5% 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
Key Takeaway
Many homes in Monrovia are selling fast, if you're buying plan to act quickly.
Summary: During March 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.
