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Monroe NC Real Estate Market Report--Year 2011

Monroe NC Real Estate Market Report—Year 2011

Click here to see other Monroe NC real estate market reports, both updated and historical.

How did the Monroe NC real estate market fare during 2011 and how did 2011 market activity compare with the previous three years?

The tables below compare the Monroe NC real estate market for years 2008 through 2011. 234 single family homes and 10 townhomes closed in Monroe in 2011. The highest priced single family home sale was $425,000. The highest priced townhome sale was $170,000. Median days on the market increased to 91 for single family homes and decreased to 75 for townhomes.

Single Family Homes in Monroe NC

The 2011 median sales price for single family homes in Monroe dropped 10.9% from 2010 and is off 19.4% from 2008. More homes sold in 2011 than in either 2009 or 2010. Median days on market continued increasing, up 9.6% over 2010 and almost triple the days on market in 2008.

Monroe Single Family HomesYear 2008Year 2009Year 2010Year 2011
Median Sales Price$141,500$121,950$128,000$113,950
Number of Homes Sold248200173234
Median Days on Market38488391

Source: Carolina Multiple Listing Service

Townhomes and Condominiums in Monroe NC

2011 saw the lowest level of townhome sales in the last four years. Because Monroe has so few sales, it is not helpful to compare median prices as they vary drastically from year to year based on relatively few sales.

Monroe Townhomes and CondosYear 2008Year 2009Year 2010Year 2011
Median Sales Price$119,235$123,740$157,933$112.450
Number of Homes Sold23151710
Median Days on Market88108475

Source: Carolina Multiple Listing Service

Types of Closed Sales in Monroe NC

Roughly a third of all sales in 2011 were distressed sales. The number of distressed sales may account for the low median sales price in 2011. Only 7% of all sales were new construction.

Monroe Sales TypesNumber of Closed SalesPercentage of Closed Sales
Resale14258.6%
New Construction187.3%
Foreclosure6727.4%
Short Sales176.7%

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Monroe NC

The most active Monroe NC neighborhoods in 2011 are listed below.

Barbee FarmsCornerstoneGlendalough
Hamilton PlaceLexington CommonsColonial Village
Wesley ChapelCharlestown

 

Copyright 2012. Carol Fox. Allen Tate Realtors. *Monroe NC Real Estate Market Report—Year 2011*


Posted: Wednesday, January 4, 2012 5:23 PM by Carol Fox

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