Is Monroe Charter 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 Charter Township has remained a Seller's Market.
Key Takeaway
Monroe Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monroe Charter Township, MI
How much do homes in Monroe Charter Township, MI cost?
Median Sold Price
$209,966
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monroe Charter Township have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Monroe Charter Township was $209,966 in April 2024, up 16.5% 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 | $79.4K | $88.7K | +11.7% |
| 2 Bedrooms | $130K | $150K | +15.4% |
| 3 Bedrooms | $184.9K | $207K | +11.9% |
| 4 Bedrooms | $250K | $286.5K | +14.6% |
| 5+ Bedrooms | $208K | $313.9K | +51.0% |
Summary: Monroe Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 51%.
Median Sold Price Compared To Nearby Cities
| La Salle | $183.7K | $256K | +39.3% |
| Monroe | $170.2K | $209.9K | +23.3% |
| Monroe Charter Township | $180.3K | $209.9K | +16.5% |
| La Salle Township | $223.5K | $259K | +15.9% |
| Frenchtown Township | $210.2K | $217.5K | +3.4% |
Housing Supply in Monroe Charter Township, MI
How many homes are available in Monroe Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 180 | 175 | -2.8% |
Summary: The Monroe Charter Township real estate market had 175 homes for sale in April 2024, a 2.8% 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 | 41 | 41 | 0.0% |
| 3 Bedrooms | 91 | 81 | -11.0% |
| 4 Bedrooms | 32 | 38 | +18.8% |
| 5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The Monroe Charter 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 remained the same, 3 bedroom homes decreased by 11%, 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
Key Takeaway
If you're buying a home in Monroe Charter Township, you could pay more than the asking price. 45.7% of homes here sold above asking price last month.
Summary: A total of 70 homes were sold or pending in Monroe Charter 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 Charter Township, MI
How long does it take to sell a home in Monroe Charter Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 57 Days | 42 Days | -25.6% |
Summary: Homes in Monroe Charter Township had an average of 42 days on market in Apr 2024, down by 25.6% 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
Key Takeaway
Many homes in Monroe Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 70 homes were sold in Monroe Charter 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.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.