Is Monroe, VA 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 May 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

$327,500

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$29,500(+9.9%)

Key Takeaway

Homes in Monroe have sold for 9.9% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $726.5K$673.5K
-7.3%
2 $191K$237.5K
+24.3%
3 $272.5K$320K
+17.4%
4 $417.5K$392.5K
-6.0%
5+ $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
+25.0%
Monroe
+9.9%
Ruckersville
-0.9%

Housing Supply in Monroe, VA

How many homes are available in Monroe, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2627+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

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 41
-75.0%
3 1615
-6.3%
4 68
+33.3%
5+ 02
+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 2024May 2024CHANGE
1012+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

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 2023May 2024CHANGE
36 Days45 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

Newest Listings in Monroe, VA

Nearby Markets to Monroe, VA

What housing markets are near Monroe, VA?