Is Monroe, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monroe is a seller's market

Buyer's
Market

Difference Since August 2022

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

How much do homes in Monroe, WA cost?

Median Sold Price

$675,000

$340/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$15,606(+2.4%)

Key Takeaway

Homes in Monroe have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Monroe was $675,000 in August 2023, up 2.4% from last year, and the median price per square foot was $340.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $240K$236.6K
-1.4%
2 $387K$459.5K
+18.7%
3 $575K$600K
+4.3%
4 $885K$775K
-12.4%
5+ $940K$857.5K
-8.8%

Summary: Monroe housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes decreased by 8.8%.

Housing Supply

How many homes are available in Monroe, WA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
1301300.0%

Summary: The Monroe real estate market had 130 homes for sale in August 2023, the same as July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 34
+33.3%
2 66
0.0%
3 4141
0.0%
4 6061
+1.7%
5+ 2018
-10.0%

Summary: The Monroe housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
38380.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe, expect to pay close to the asking price. 44.7% of homes here sold near the asking price last month.

Summary: A total of 38 homes were sold or pending in Monroe in August 2023, the same as the previous month. Of the 38 sold homes, 18% were sold under asking, 45% were sold at asking, and 37% were sold over asking.

Days on Market

How long does it take to sell a home in Monroe, WA?

Average Sale Time

Aug 2022Aug 2023CHANGE
21 Days34 Days+65.8%

Summary: Homes in Monroe had an average of 34 days on market in Aug 2023, up by 65.8% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monroe are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 38 homes were sold in Monroe; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

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

Report Updated 24 Days Ago

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