Monroe’s chart shows indicators of a strengthening market over the past six and three month time periods. Sale prices have increased significantly, inventory is much lower, and the Average List to Sales Price Ratio has increased to 96%. While Monroe is still in a Buyer’s Market with 8.9 months of inventory (the 12 month figure is used for the absorption analysis and a supply greater than 6 months is considered a Buyer’s Market), the trend is towards a more balanced market.
It looks like Monroe’s real estate market hit bottom in Q1 2012 and a recovery is underway.
HOTTEST HOMES FOR SALE IN MONROE
What homes are most in demand by buyers in Monroe? The sweet spot in the market is for 4 bedroom homes with a list price of $475,000-500,000. They tend to be on the market only 91 days and sell for 97% of list price.