Is Monroe, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Monroe was a Buyer's Market.
Key Takeaway
Monroe is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Monroe, VA
How much do homes in Monroe, VA cost?
Median Sold Price
$355,000
$147/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Monroe have sold for 15.3% more than they did a month ago.
Summary: The median home sold price in Monroe was $355,000 in March 2024, up 15.3% from last month, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $308K | $355K | +15.3% |
| 4 Bedrooms | - | $325K | N/A |
| 5+ Bedrooms | - | $650K | N/A |
Summary: Monroe housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Monroe | $308K | $355K | +15.3% |
| Earlysville | $1.1M | $435.7K | -60.5% |
Housing Supply in Monroe, VA
How many homes are available in Monroe, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 32 | -17.9% |
Summary: The Monroe real estate market had 32 homes for sale in March 2024, a 17.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 22 | 20 | -9.1% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Monroe housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
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 March 2024, the same as the previous 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 22 Days | 0.0% |
Summary: Homes in Monroe had an average of 22 days on market in Mar 2024, the same as last month.
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 March 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.
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. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Copyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed.