Is Monroe, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Monroe has remained a Seller's Market.
Housing Prices in Monroe, VA
How much do homes in Monroe, VA cost?
Median Sold Price
$327,500
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monroe was $327,500 in May 2024, up 9.9% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $726.5K | $673.5K | -7.3% |
2 Bedrooms | $191K | $237.5K | +24.3% |
3 Bedrooms | $272.5K | $320K | +17.4% |
4 Bedrooms | $417.5K | $392.5K | -6.0% |
5+ Bedrooms | $899K | $399K | -55.6% |
Summary: Monroe housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.3%, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 55.6%.
Median Sold Price Compared To Nearby Cities
Earlysville | $520K | $650K | +25.0% |
Monroe | $298K | $327.5K | +9.9% |
Ruckersville | $403.6K | $400K | -0.9% |
Housing Supply in Monroe, VA
How many homes are available in Monroe, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 27 | +3.8% |
Summary: The Monroe real estate market had 27 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 4 | 1 | -75.0% |
3 Bedrooms | 16 | 15 | -6.3% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Monroe housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 75%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Monroe in May 2024, up by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 45 Days | +25.6% |
Summary: Homes in Monroe had an average of 45 days on market in May 2024, up by 25.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Monroe; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.