Is Monroe Township, MI 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, Monroe Township has remained a Seller's Market.
Housing Prices in Monroe Township, MI
How much do homes in Monroe Township, MI cost?
Median Sold Price
$210,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monroe Township was $210,000 in April 2024, up 23.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $88.7K | -29.0% |
2 Bedrooms | $128.4K | $151K | +17.6% |
3 Bedrooms | $169.9K | $205K | +20.7% |
4 Bedrooms | $240.4K | $286.5K | +19.2% |
5+ Bedrooms | $196K | $313.9K | +60.2% |
Summary: Monroe Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 60.2%.
Housing Supply in Monroe Township, MI
How many homes are available in Monroe Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
182 | 175 | -3.8% |
Summary: The Monroe Township real estate market had 175 homes for sale in April 2024, a 3.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 43 | 42 | -2.3% |
3 Bedrooms | 91 | 80 | -12.1% |
4 Bedrooms | 32 | 38 | +18.8% |
5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Monroe Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 70 | +18.6% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Monroe Township in April 2024, up by 18.6% month-over-month. Of the 70 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% were sold over asking.
Days on Market for Monroe Township, MI
How long does it take to sell a home in Monroe Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
57 Days | 42 Days | -25.7% |
Summary: Homes in Monroe Township had an average of 42 days on market in Apr 2024, down by 25.7% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During April 2024, 70 homes were sold in Monroe Township; 53% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.