Monroe’s chart showed indicators of a strengthening market over the past six month time period, but the more recent 3 month trends are less positive. Sale prices have decreased, inventory has increasted and the Average List to Sales Price Ratio has decreased to 93%. While Monroe is still in a Buyer’s Market with 7.9 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 (the three month trend is 6.6 months of inventory), but trend signals are mixed..
It looks like Monroe’s real estate market hit bottom in Q1 2012 and a recovery is underway, but the road remains rocky.
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 $450,000-475,000. They tend to be on the market 111 days and sell for 96% of list price.