Monroe’s chart shows indicators of a strengthening market over the past 12 months. Sale prices have increased significantly, inventory is lower, and the Average List to Sales Price Ratio hovers around 95-96%. 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.
It looks like Monroe’s real estate market hit bottom in Q1 2012 and a recovery is underway. The leveling off of prices is likely seasonal.
MONROE'S HOTTEST HOMES
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 only 94 days and sell for 96% of list price.