Is Monrovia, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monrovia is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Monrovia was a Neutral Market.

Key Takeaway

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

Housing Prices in Monrovia, IN

How much do homes in Monrovia, IN cost?

Median Sold Price

$310,060

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,630(+18.6%)

Key Takeaway

Homes in Monrovia have sold for 18.6% more than they did a year ago.

Summary: The median home sold price in Monrovia was $310,060 in October 2024, up 18.6% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $111.5K-
N/A
2 $245K$322.5K
+31.6%
3 $249.9K$276.1K
+10.5%
4 $274.7K$310.1K
+12.9%
5+ $332K$337.5K
+1.7%

Summary: Monrovia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31.6%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 1.7%.

Median Sold Price Compared To Nearby Cities

Monrovia
+18.6%
Monroe Township
+8.6%

Housing Supply in Monrovia, IN

How many homes are available in Monrovia, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4952+6.1%

Summary: The Monrovia real estate market had 52 homes for sale in October 2024, a 6.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1318
+38.5%
4 2725
-7.4%
5+ 66
0.0%

Summary: The Monrovia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1410-28.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monrovia, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Monrovia in October 2024, down by 28.6% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% were sold over asking.

Days on Market for Monrovia, IN

How long does it take to sell a home in Monrovia, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days38 Days+54.7%

Summary: Homes in Monrovia had an average of 38 days on market in Oct 2024, up by 54.7% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 10 homes were sold in Monrovia; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 20% 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 20 Days Ago

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