$4,452 Closing Credit*
$374,900
1,400 SqFt
3 Beds
•2 Full Baths
Audrey Roberts, Listing Office: Keller Williams
Is Monroe, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 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, VA
How much do homes in Monroe, VA cost?
Median Sold Price
$335,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$35,100(+11.7%)
Key Takeaway
Homes in Monroe have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Monroe was $335,000 in August 2024, up 11.7% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $726.5K | - | N/A |
| 2 Bedrooms | $174.9K | $283.8K | +62.3% |
| 3 Bedrooms | $300K | $325K | +8.3% |
| 4 Bedrooms | $393.7K | $420K | +6.7% |
| 5+ Bedrooms | $348.5K | $557K | +59.8% |
Summary: Monroe housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 62.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 59.8%.
Median Sold Price Compared To Nearby Cities
| Free Union | $575K | $825K | +43.5% |
| Earlysville | $577K | $662.5K | +14.8% |
| Monroe | $299.9K | $335K | +11.7% |
| Ruckersville | $405K | $412.2K | +1.8% |
Housing Supply in Monroe, VA
How many homes are available in Monroe, VA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Monroe real estate market had 24 homes for sale in August 2024, a 9.1% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Monroe housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Monroe in August 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Monroe, VA
How long does it take to sell a home in Monroe, VA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 22 Days | 18 Days | -17.9% |
Summary: Homes in Monroe had an average of 18 days on market in Aug 2024, down by 17.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 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 August 2024, 5 homes were sold in Monroe; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes. 
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
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