Is Monroe County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monroe County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Monroe County has remained a Seller's Market.

Key Takeaway

Monroe County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monroe County, MI

How much do homes in Monroe County, MI cost?

Median Sold Price

$239,227

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$10,761(+4.7%)

Key Takeaway

Homes in Monroe County have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Monroe County was $239,227 in February 2024, up 4.7% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $110K$102.5K
-6.8%
2 $147.5K$162.5K
+10.2%
3 $227.4K$232K
+2.0%
4 $290.7K$309.9K
+6.6%
5+ $303K$355K
+17.2%

Summary: Monroe County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 17.2%.

Median Sold Price Compared To Nearby Counties

Washtenaw County
+4.9%
Monroe County
+4.7%
Lucas County
+4.5%
Wayne County
0%

Housing Supply in Monroe County, MI

How many homes are available in Monroe County, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
398396-0.5%

Summary: The Monroe County real estate market had 396 homes for sale in February 2024, a 0.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 34
+33.3%
2 6354
-14.3%
3 211218
+3.3%
4 102101
-1.0%
5+ 1919
0.0%

Summary: The Monroe County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
9996-3.0%

Asking Price vs. Sold Price

59 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe County, you may be able to get a good deal. 62.1% of homes here sold below asking price last month.

Summary: A total of 96 homes were sold or pending in Monroe County in February 2024, down by 3.0% month-over-month. Of the 95 sold homes, 62% were sold under asking, 14% were sold at asking, and 24% 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

Feb 2023Feb 2024CHANGE
54 Days53 Days-1.7%

Summary: Homes in Monroe County had an average of 53 days on market in Feb 2024, down by 1.7% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

36 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monroe County are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 96 homes were sold in Monroe County; 43% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 20% 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 2 Days Ago

Newest Listings in Monroe County, MI

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