$6,686 Closing Credit*
$563,000
1,880 SqFt
4 Beds
•4 Full Baths, 1 Partial
Paul Smith, Listing Office: RLAH @properties
Is Monrovia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$642,500
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,500(+2.8%)
Key Takeaway
Homes in Monrovia have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Monrovia was $642,500 in October 2024, up 2.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | - | N/A |
| 3 Bedrooms | $525K | $562K | +7.0% |
| 4 Bedrooms | $657.5K | $642.5K | -2.3% |
| 5+ Bedrooms | $827.5K | $875K | +5.7% |
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 did not change, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
| New Market | $554.7K | $587.6K | +5.9% |
| Mount Airy | $575K | $600K | +4.3% |
| Monrovia | $625K | $642.5K | +2.8% |
Housing Supply in Monrovia, MD
How many homes are available in Monrovia, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The Monrovia real estate market had 16 homes for sale in October 2024, a 33.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 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 remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Monrovia in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 17 Days | +58.2% |
Summary: Homes in Monrovia had an average of 17 days on market in Oct 2024, up by 58.2% compared to last year.
Breakdown of Home Sale Times
4 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 October 2024, 5 homes were sold in Monrovia; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
