Is Monrovia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, MD
How much do homes in Monrovia, MD cost?
Median Sold Price
$665,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monrovia have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Monrovia was $665,000 in April 2024, up 6.4% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | - | N/A |
| 3 Bedrooms | $481.1K | $550K | +14.3% |
| 4 Bedrooms | $710K | $699.9K | -1.4% |
| 5+ Bedrooms | $771.7K | $870K | +12.7% |
Summary: Monrovia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
| New Market | $509.8K | $579.7K | +13.7% |
| Monrovia | $625K | $665K | +6.4% |
| Mount Airy | $599.4K | $565.2K | -5.7% |
Housing Supply in Monrovia, MD
How many homes are available in Monrovia, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The Monrovia real estate market had 24 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Monrovia housing inventory by bedroom type for April 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 14.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Monrovia in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Monrovia, MD
How long does it take to sell a home in Monrovia, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 14 Days | -36.7% |
Summary: Homes in Monrovia had an average of 14 days on market in Apr 2024, down by 36.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monrovia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Monrovia; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
