$29,900
5.00 Acres
Land
Teresa D Hudson, Listing Office: John Stewart Walker, Inc
Is Monroe, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Monroe was a Seller's Market.
Key Takeaway
Monroe is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Monroe, VA
How much do homes in Monroe, VA cost?
Median Sold Price
$233,750
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$21,250(-8.3%)
Key Takeaway
Homes in Monroe have sold for 8.3% less than they did a year ago.
Summary: The median home sold price in Monroe was $233,750 in November 2024, down 8.3% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $168.4K | $199.9K | +18.7% |
| 3 Bedrooms | $250K | $233.7K | -6.5% |
| 4 Bedrooms | $975K | $349.9K | -64.1% |
| 5+ Bedrooms | $319K | - | N/A |
Summary: Monroe 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 18.7%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 64.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Madison Heights | $230K | $263.4K | +14.5% |
| Monroe | $255K | $233.7K | -8.3% |
Housing Supply in Monroe, VA
How many homes are available in Monroe, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Monroe real estate market had 12 homes for sale in November 2024, a 33.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Monroe housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Monroe, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Monroe in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Monroe, VA
How long does it take to sell a home in Monroe, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 62 Days | 18 Days | -70.2% |
Summary: Homes in Monroe had an average of 18 days on market in Nov 2024, down by 70.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monroe are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Monroe; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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