Is Monroe County, MI 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, 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
$239,910
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Monroe County was $239,910 in June 2024, up 4.3% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $104K | -5.5% |
2 Bedrooms | $153.5K | $165K | +7.4% |
3 Bedrooms | $224.8K | $239.7K | +6.6% |
4 Bedrooms | $300K | $310.7K | +3.6% |
5+ Bedrooms | $349.5K | $315.4K | -9.7% |
Summary: Monroe County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Counties
Lucas County | $149.9K | $160.6K | +7.1% |
Washtenaw County | $370.4K | $396K | +6.9% |
Wayne County | $176.2K | $184.8K | +4.9% |
Monroe County | $230K | $239.9K | +4.3% |
Housing Supply in Monroe County, MI
How many homes are available in Monroe County, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
441 | 476 | +7.9% |
Summary: The Monroe County real estate market had 476 homes for sale in June 2024, a 7.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 64 | 60 | -6.3% |
3 Bedrooms | 232 | 256 | +10.3% |
4 Bedrooms | 115 | 126 | +9.6% |
5+ Bedrooms | 26 | 29 | +11.5% |
Summary: The Monroe County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 11.5%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
134 | 122 | -9.0% |
Asking Price vs. Sold Price
51 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Summary: A total of 122 homes were sold or pending in Monroe County in June 2024, down by 9.0% month-over-month. Of the 122 sold homes, 42% were sold under asking, 11% were sold at asking, and 47% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
32 Days | 37 Days | +12.7% |
Summary: Homes in Monroe County had an average of 37 days on market in Jun 2024, up by 12.7% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
39 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During June 2024, 122 homes were sold in Monroe County; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.