$10,000 Closing Credit*
$925,000
3,350 SqFt
4 Beds
•3 Full Baths, 1 Partial
Aurora A Smith, Listing Office: Northrop Realty
Is Monrovia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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, MD
How much do homes in Monrovia, MD cost?
Median Sold Price
$632,500
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,500(+0.4%)
Key Takeaway
The sold price of homes in Monrovia has remained the same since last year.
Summary: The median home sold price in Monrovia was $632,500 in November 2024, up 0.4% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | - | N/A |
| 3 Bedrooms | $525K | $563.5K | +7.3% |
| 4 Bedrooms | $666K | $635K | -4.7% |
| 5+ Bedrooms | $835K | $875K | +4.8% |
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 did not change, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Mount Airy | $575K | $610K | +6.1% |
| New Market | $560K | $589.9K | +5.3% |
| Monrovia | $630K | $632.5K | 0.4% |
Housing Supply in Monrovia, MD
How many homes are available in Monrovia, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Monrovia real estate market had 14 homes for sale in November 2024, a 12.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Monrovia in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 17 Days | -4.2% |
Summary: Homes in Monrovia had an average of 17 days on market in Nov 2024, down by 4.2% compared to last year.
Breakdown of Home Sale Times
3 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 November 2024, 4 homes were sold in Monrovia; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
