Monroe, MI Home Values & Market Trends
Real estate market trends reflect that there have been 824 transactions over the past year in Monroe. The median value for residential home transactions that occurred over the previous year is $194,256.72. The number of current listings in Monroe is 117, and the percentage of properties for sale in the city is 117.00%. Monroe, MI currently has 28 properties in foreclosure, 12 bank owned properties, 16 properties headed for auction, and 117 properties for sale.
Monroe, MI Real Estate Market Overview
Housing Market Summary for Monroe, MI
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $165K | $187K | 13.31% |
| Median Sold Price | $174.2K | $187K | 7.31% |
| Homes For Sale | 117 | 91 | -22.22% |
| Homes Sold | 664 | 412 | -37.95% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Monroe, MI
Browse Homes in Monroe, MI
Monroe home values range from $19,982 to $6,373,077. The median estimated value of a home in Monroe is $194,256.72. The median list price of a home is 169,900, and the total count of properties in the city is 19,071.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Monroe, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 2 zips within Monroe, MI; of those zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Monroe, MI ranges from the highest value of $1,354,968 in 48162 to the lowest value of $31,726 in 48161. Bank owned homes and properties account for 0.06% of properties in Monroe, MI. There are 2 zips within Monroe, MI; 48161 containing 6 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions48161 has 8 auction properties, the highest number of properties going to auction in a single zip in the state of Monroe, MI. Auction homes and other auction properties account for 0.08% of all properties in Monroe, MI. There are 2 zips within Monroe, MI; of those zips, the median estimated home value for homes going to auction ranges from $230,391 in 48162 to the lowest value of $75,120 in 48162.
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More Real Estate Resources for Monroe, MI
Guide for Monroe, MI
Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.
The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.
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