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 November 2023

Since last year, Monrovia has remained a Seller's 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

$311,060

$148/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$51,060(+19.6%)

Key Takeaway

Homes in Monrovia have sold for 19.6% more than they did a year ago.

Summary: The median home sold price in Monrovia was $311,060 in November 2024, up 19.6% from last year, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $111.5K-
N/A
2 $245K$277.5K
+13.3%
3 $248.4K$281.6K
+13.3%
4 $274.7K$312.5K
+13.7%
5+ $332K$337.2K
+1.6%

Summary: Monrovia housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 1.6%.

Median Sold Price Compared To Nearby Cities

Monrovia
+19.6%
Monroe Township
+10.3%

Housing Supply in Monrovia, IN

How many homes are available in Monrovia, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
5551-7.3%

Summary: The Monrovia real estate market had 51 homes for sale in November 2024, a 7.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 2022
+10.0%
4 2620
-23.1%
5+ 67
+16.7%

Summary: The Monrovia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1113+18.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monrovia, expect to pay close to the asking price. 69.2% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in Monrovia in November 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 69% were sold at asking, and 0% 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

Nov 2023Nov 2024CHANGE
15 Days53 Days+251.0%

Summary: Homes in Monrovia had an average of 53 days on market in Nov 2024, up by 251% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were 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 November 2024, 13 homes were sold in Monrovia; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% 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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