Is Monroe, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$383,820
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monroe have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Monroe was $383,820 in April 2024, up 9.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $125K | +25.0% |
| 2 Bedrooms | $225K | $230.9K | +2.6% |
| 3 Bedrooms | $325K | $354.3K | +9.0% |
| 4 Bedrooms | $420K | $430K | +2.4% |
| 5+ Bedrooms | $475K | $515K | +8.4% |
Summary: Monroe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Monroe | $350K | $383.8K | +9.7% |
| Monroe Township | $350K | $379.9K | +8.6% |
| Indian Trail | $419.2K | $426.9K | +1.8% |
| Vance Township | $424.8K | $429.9K | +1.2% |
| Unionville | $468K | $404.9K | -13.5% |
Housing Supply in Monroe, NC
How many homes are available in Monroe, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 302 | 321 | +6.3% |
Summary: The Monroe real estate market had 321 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 21 | 17 | -19.0% |
| 3 Bedrooms | 157 | 159 | +1.3% |
| 4 Bedrooms | 89 | 96 | +7.9% |
| 5+ Bedrooms | 34 | 48 | +41.2% |
Summary: The Monroe housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 19%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 82 | 94 | +14.6% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.
Summary: A total of 94 homes were sold or pending in Monroe in April 2024, up by 14.6% month-over-month. Of the 94 sold homes, 41% were sold under asking, 28% were sold at asking, and 31% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 32 Days | -35.9% |
Summary: Homes in Monroe had an average of 32 days on market in Apr 2024, down by 35.9% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
10 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 April 2024, 94 homes were sold in Monroe; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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