Is Monroe, VA 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, VA
How much do homes in Monroe, VA cost?
Median Sold Price
$249,950
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monroe have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Monroe was $249,950 in April 2024, up 4.1% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $156.5K | $189.9K | +21.3% |
| 3 Bedrooms | $230K | $271.5K | +18.0% |
| 4 Bedrooms | $447.5K | $200K | -55.3% |
| 5+ Bedrooms | $495.9K | $319K | -35.7% |
Summary: Monroe housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 55.3%, and 5+ bedroom homes decreased by 35.7%.
Median Sold Price Compared To Nearby Cities
| Madison Heights | $214K | $243K | +13.6% |
| Monroe | $240K | $249.9K | +4.1% |
Housing Supply in Monroe, VA
How many homes are available in Monroe, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Summary: The Monroe real estate market had 7 homes for sale in April 2024, a 600.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 3 | +100.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
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 increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Monroe in April 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 11 Days | +483.3% |
Summary: Homes in Monroe had an average of 11 days on market in Apr 2024, up by 483.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were 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 April 2024, 3 homes were sold in Monroe; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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