Is Monroe, NC 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 has remained a Seller's Market.
Key Takeaway
Monroe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe, NC
How much do homes in Monroe, NC cost?
Median Sold Price
$380,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monroe have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Monroe was $380,000 in March 2024, up 8.8% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $125K | +25.0% |
| 2 Bedrooms | $225K | $230K | +2.2% |
| 3 Bedrooms | $320K | $355K | +10.9% |
| 4 Bedrooms | $420K | $430K | +2.4% |
| 5+ Bedrooms | $475K | $500K | +5.3% |
Summary: Monroe housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Monroe | $349.2K | $380K | +8.8% |
| Monroe Township | $349.1K | $374.9K | +7.4% |
| Indian Trail | $414K | $427.1K | +3.2% |
| Vance Township | $421K | $430K | +2.2% |
| Unionville | $471.3K | $410.8K | -12.8% |
Housing Supply in Monroe, NC
How many homes are available in Monroe, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 268 | 284 | +6.0% |
Summary: The Monroe real estate market had 284 homes for sale in March 2024, a 6.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 18 | 20 | +11.1% |
| 3 Bedrooms | 150 | 152 | +1.3% |
| 4 Bedrooms | 70 | 82 | +17.1% |
| 5+ Bedrooms | 30 | 29 | -3.3% |
Summary: The Monroe housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes decreased by 3.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 77 | +16.7% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 50.6% of homes here sold below asking price last month.
Summary: A total of 77 homes were sold or pending in Monroe in March 2024, up by 16.7% month-over-month. Of the 77 sold homes, 51% were sold under asking, 30% were sold at asking, and 19% were sold over asking.
Days on Market for Monroe, NC
How long does it take to sell a home in Monroe, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 32 Days | -30.4% |
Summary: Homes in Monroe had an average of 32 days on market in Mar 2024, down by 30.4% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monroe are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 77 homes were sold in Monroe; 60% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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