Is Monrovia, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Monrovia has remained a Seller's Market.
Key Takeaway
Monrovia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monrovia, CA
How much do homes in Monrovia, CA cost?
Median Sold Price
$928,000
$629/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Monrovia has remained the same since last year.
Summary: The median home sold price in Monrovia was $928,000 in May 2024, up 0.1% from last year, and the median price per square foot was $629.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $620K | $523.5K | -15.6% |
| 2 Bedrooms | $675K | $729.5K | +8.1% |
| 3 Bedrooms | $970K | $970K | 0.0% |
| 4 Bedrooms | $1.1M | $1.2M | +8.2% |
| 5+ Bedrooms | $1.5M | $1.5M | -1.5% |
Summary: Monrovia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes increased by 8.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in Monrovia, CA
How many homes are available in Monrovia, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 | 61 | -21.8% |
Summary: The Monrovia real estate market had 61 homes for sale in May 2024, a 21.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 22 | 15 | -31.8% |
| 3 Bedrooms | 39 | 30 | -23.1% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Monrovia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 31.8%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 20 | -39.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monrovia, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Monrovia in May 2024, down by 39.4% month-over-month. Of the 20 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Monrovia, CA
How long does it take to sell a home in Monrovia, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 35 Days | 22 Days | -34.7% |
Summary: Homes in Monrovia had an average of 22 days on market in May 2024, down by 34.7% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monrovia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Monrovia; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.