Is Monroe County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Monroe County has remained a Seller's Market.
Housing Prices in Monroe County, MI
How much do homes in Monroe County, MI cost?
Median Sold Price
$239,027
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Monroe County was $239,027 in March 2024, up 4.2% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $102.5K | -6.8% |
2 Bedrooms | $150K | $163.7K | +9.2% |
3 Bedrooms | $225.1K | $232K | +3.0% |
4 Bedrooms | $293K | $310K | +5.8% |
5+ Bedrooms | $303K | $345K | +13.9% |
Summary: Monroe County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.8%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Counties
Washtenaw County | $369.4K | $389.4K | +5.4% |
Lucas County | $149.9K | $156.8K | +4.6% |
Monroe County | $229.4K | $239K | +4.2% |
Wayne County | $179.9K | $180K | 0.1% |
Housing Supply in Monroe County, MI
How many homes are available in Monroe County, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
397 | 410 | +3.3% |
Summary: The Monroe County real estate market had 410 homes for sale in March 2024, a 3.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 58 | 62 | +6.9% |
3 Bedrooms | 218 | 236 | +8.3% |
4 Bedrooms | 99 | 91 | -8.1% |
5+ Bedrooms | 18 | 19 | +5.6% |
Summary: The Monroe County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
102 | 116 | +13.7% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Monroe County in March 2024, up by 13.7% month-over-month. Of the 116 sold homes, 34% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Monroe County, MI
How long does it take to sell a home in Monroe County, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
65 Days | 39 Days | -40.5% |
Summary: Homes in Monroe County had an average of 39 days on market in Mar 2024, down by 40.5% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During March 2024, 116 homes were sold in Monroe County; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.