Is Monroe, WA 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.
Key Takeaway
Monroe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe, WA
How much do homes in Monroe, WA cost?
Median Sold Price
$766,971
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Monroe have sold for 18% more than they did a year ago.
Summary: The median home sold price in Monroe was $766,971 in May 2024, up 18% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $214.9K | $259.9K | +21.0% |
| 2 Bedrooms | $400K | $475K | +18.8% |
| 3 Bedrooms | $600K | $625K | +4.2% |
| 4 Bedrooms | $801K | $822.7K | +2.7% |
| 5+ Bedrooms | $905K | $850K | -6.1% |
Summary: Monroe housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in Monroe, WA
How many homes are available in Monroe, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 98 | +4.3% |
Summary: The Monroe real estate market had 98 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 35 | 41 | +17.1% |
| 4 Bedrooms | 43 | 42 | -2.3% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The Monroe housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, expect to pay close to the asking price. 52.6% of homes here sold near the asking price last month.
Summary: A total of 38 homes were sold or pending in Monroe in May 2024, up by 18.8% month-over-month. Of the 38 sold homes, 16% were sold under asking, 53% were sold at asking, and 32% were sold over asking.
Days on Market for Monroe, WA
How long does it take to sell a home in Monroe, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 37 Days | +27.2% |
Summary: Homes in Monroe had an average of 37 days on market in May 2024, up by 27.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 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 May 2024, 38 homes were sold in Monroe; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.