Is Monroe Township, 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 Township has remained a Seller's Market.
Housing Prices in Monroe Township, MI
How much do homes in Monroe Township, MI cost?
Median Sold Price
$204,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Monroe Township was $204,000 in March 2024, up 20% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $77.5K | -38.0% |
2 Bedrooms | $125K | $152K | +21.6% |
3 Bedrooms | $176.5K | $200K | +13.3% |
4 Bedrooms | $229K | $288.9K | +26.2% |
5+ Bedrooms | $196K | $313.4K | +59.9% |
Summary: Monroe Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 26.2%, and 5+ bedroom homes increased by 59.9%.
Housing Supply in Monroe Township, MI
How many homes are available in Monroe Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
173 | 175 | +1.2% |
Summary: The Monroe Township real estate market had 175 homes for sale in March 2024, a 1.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 32 | 39 | +21.9% |
3 Bedrooms | 91 | 92 | +1.1% |
4 Bedrooms | 36 | 32 | -11.1% |
5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Monroe Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 21.9%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 52 | +10.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Monroe Township in March 2024, up by 10.6% month-over-month. Of the 52 sold homes, 23% were sold under asking, 23% were sold at asking, and 54% were sold over asking.
Days on Market for Monroe Township, MI
How long does it take to sell a home in Monroe Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
66 Days | 35 Days | -47.0% |
Summary: Homes in Monroe Township had an average of 35 days on market in Mar 2024, down by 47% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 52 homes were sold in Monroe Township; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.