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 August 2021

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.

How much do homes in Monroe County, MI cost?

Median Sold Price

$229,985

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$29,874(+14.9%)

Key Takeaway

Homes in Monroe County have sold for 14.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $86K$102.7K
+19.5%
2 $135K$157K
+16.3%
3 $196.5K$229.9K
+17.0%
4 $264.1K$285.9K
+8.3%
5+ $320K$250.5K
-21.7%

Median Sold Price Compared To Nearby Counties

Lenawee County
+15.1%
Monroe County
+14.9%
Washtenaw County
+13.0%
Wayne County
+6.0%
Lucas County
+4.6%

How many homes are available in Monroe County, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
485524+8.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 44
0.0%
2 6984
+21.7%
3 261283
+8.4%
4 129133
+3.1%
5+ 2220
-9.1%

Number of Homes Sold

Jul 2022Aug 2022%
138130-5.8%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

61 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe County, you could pay more than the asking price. 47.3% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
23 Days33 Days+41.6%

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

7 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.

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

About Monroe County, MI

Number of homes for sale in Monroe County, MI real estate market have reached 524. The number of homes for sale in Monroe County, MI increased by 8% between July 2022 and August 2022. While the average time on the market in August 2022 was 33 days, the median list price was $229,985. Listing prices have changed in this real estate market between July 2022 and August 2022: 1 bedroom properties became 19.5% more expensive, the cost of 2 bedrooms properties went up by 16.3%, prices of 3 bedrooms properties went up by 17%, prices of 4 bedrooms properties increased by 8.3%, prices of 5 bedrooms properties decreased by 21.7%. This housing market inventory have changed: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes went up by 21.7%, number of 3 bedrooms homes increased by 8.4%, 4 bedrooms homes inventory increased by 3.1%, number of 5 bedrooms homes decreased by 9.1%. Monroe County, MI housing market in August 2022 saw over 61 listings sold above listed price, more than 25 sold at listed price and over 43 sold below.

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