$79,900
2.16 Acres
Land
Robert Jacobs, Listing Office: eXp Realty, LLC
Is Monroe, MI 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, Monroe has remained a Seller's Market.
Key Takeaway
Monroe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe, MI
How much do homes in Monroe, MI cost?
Median Sold Price
$209,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,000(+4.5%)
Key Takeaway
Homes in Monroe have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Monroe was $209,000 in October 2024, up 4.5% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.2K | $101K | +59.8% |
| 2 Bedrooms | $147.5K | $150K | +1.7% |
| 3 Bedrooms | $200K | $211.3K | +5.7% |
| 4 Bedrooms | $290K | $265K | -8.6% |
| 5+ Bedrooms | $285K | $319.9K | +12.3% |
Summary: Monroe housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.8%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes increased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Monroe | $200K | $209K | +4.5% |
| Monroe Charter Township | $200K | $209K | +4.5% |
| Frenchtown Township | $213.5K | $215K | +0.7% |
Housing Supply in Monroe, MI
How many homes are available in Monroe, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 202 | 199 | -1.5% |
Summary: The Monroe real estate market had 199 homes for sale in October 2024, a 1.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 37 | 31 | -16.2% |
| 3 Bedrooms | 104 | 103 | -1.0% |
| 4 Bedrooms | 51 | 55 | +7.8% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Monroe housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 16.2%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 55 | 47 | -14.5% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 44.7% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in Monroe in October 2024, down by 14.5% month-over-month. Of the 47 sold homes, 45% were sold under asking, 21% were sold at asking, and 34% were sold over asking.
Days on Market for Monroe, MI
How long does it take to sell a home in Monroe, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 31 Days | -12.3% |
Summary: Homes in Monroe had an average of 31 days on market in Oct 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Monroe are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 47 homes were sold in Monroe; 64% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.