Real estate market data for Monroe Louisiana provided by Mason Moody of Keller Williams Realty Parishwide Partners.
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Monroe Home Prices
We have seen a month of selling price increases on home prices in Monroe and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Monroe but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price, often they sell for more. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Monroe home on which you are making an offer.
If you are interested in how much current inventory is on the market in Monroe you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently, in this area of Monroe, homes have a median time of 98 days on the market before they sell. This would suggest that buyers are in a great position to make an aggressive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Monroe has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Monroe Real Estate Report Summary
The median list price in March for single family homes in Monroe (71201) is $283,030. The list prices decreased from the previous month.
The number of active listings in Monroe (71201) decreased by 23.9% .
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Thank you for reading about home prices in Monroe LA for March 2017.