Is Monrovia, MD 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 October 2021

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.

How much do homes in Monrovia, MD cost?

Median Sold Price

$529,995

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

-$50,005(-8.6%)

Key Takeaway

Homes in Monrovia have sold for 8.6% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 -$336K
N/A
3 $455K$490K
+7.7%
4 $618.5K$600K
-3.0%
5+ $640K$740K
+15.6%

Median Sold Price Compared To Nearby Cities

Mount Airy
+12.9%
Monrovia
-8.6%

How many homes are available in Monrovia, MD?

Number of Homes For Sale

Sep 2022Oct 2022%
2430+25.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 33
0.0%
3 33
0.0%
4 1118
+63.6%
5+ 76
-14.3%

Number of Homes Sold

Sep 2022Oct 2022%
660.0%

Asking Price vs. Sold Price

2 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. 33.3% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
7 Days12 Days+69.8%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was 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.

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

About Monrovia, MD

There are 30 homes are for sale in Monrovia, MD real estate market. In October 2022 in Monrovia, MD there were 25% more homes for sale than in September 2022. In October 2022 median list price was $529,995 and the average listing age was 12 days. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties became 0% more expensive, the cost of 3 bedrooms properties went up by 7.7%, prices of 4 bedrooms properties decreased by 3%, the cost of 5 bedrooms properties went up by 15.6%. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes did not move, number of 3 bedrooms homes remained the same, 4 bedrooms homes inventory increased by 63.6%, 5 bedrooms homes inventory decreased by 14.3%. Monrovia, MD housing market in October 2022 saw over 2 listings sold above listed price, more than 2 sold at listed price and over 2 sold below.

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