Is Monroe County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monroe County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Monroe County has remained a Seller's Market.

Key Takeaway

Monroe County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monroe County, IL

How much do homes in Monroe County, IL cost?

Median Sold Price

$321,500

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,733(+4.5%)

Key Takeaway

Homes in Monroe County have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Monroe County was $321,500 in October 2024, up 4.5% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $247.6K$98.7K
-60.1%
2 $185K$205K
+10.8%
3 $310K$314.9K
+1.6%
4 $389.4K$407K
+4.5%
5+ $375K$530K
+41.3%

Summary: Monroe County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 60.1%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 41.3%.

Median Sold Price Compared To Nearby Counties

Randolph County
+9.0%
Jefferson County
+8.3%
Saint Clair County
+7.6%
Monroe County
+4.5%
Saint Louis County
+1.0%

Housing Supply in Monroe County, IL

How many homes are available in Monroe County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
125134+7.2%

Summary: The Monroe County real estate market had 134 homes for sale in October 2024, a 7.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 1813
-27.8%
3 6271
+14.5%
4 3339
+18.2%
5+ 119
-18.2%

Summary: The Monroe County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 27.8%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2631+19.2%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monroe County, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Monroe County in October 2024, up by 19.2% month-over-month. Of the 31 sold homes, 39% were sold under asking, 26% were sold at asking, and 35% were sold over asking.

Days on Market for Monroe County, IL

How long does it take to sell a home in Monroe County, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days32 Days+12.4%

Summary: Homes in Monroe County had an average of 32 days on market in Oct 2024, up by 12.4% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Monroe County has remained consistent over time.

Summary: During October 2024, 31 homes were sold in Monroe County; 42% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 3% 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 11 Days Ago

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 11/01/2022 - 11/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/12/2024, 2:23:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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