Monroe County October Market Update

Residential Real Estate Update
Presented by: Jordan Bobbitt | Synergy Realty Group
Your Journey Begins with Jordan Bobbitt

📊 Key Market Highlights (Year-to-Date through October)

📈 Market Activity

• New Listings:
  1,653 homes listed (↑ 5.2% from 1,571 in 2024)
  → A healthy uptick in homeowner confidence. More sellers are stepping into the market, likely in response to strong price growth and high buyer activity.

• Pending Sales:
  1,348 homes under contract (↑ 2.9% from 1,310)
  → Modest growth in buyer activity. Pending sales are up year-to-date even though they dipped in October specifically — indicating that Monroe has been steady overall.

• Closed Sales:
  1,331 homes sold (↑ 5.5% from 1,262)
  → Closings are up both month-to-month and year-to-date. Monroe’s market is not just active — it’s gaining velocity late in the year.

💰 Pricing Trends

• Median Sales Price:
  $267,800 (↑ 7.8% from $248,500)
  → A strong upward trend. Buyers are still willing to pay more, and values are increasing in line with (or slightly above) national averages.

• Average Sales Price:
  $290,932 (↑ 7.2% from $271,438)
  → Pricing strength is consistent across both entry-level and mid-tier homes. Appreciation remains sustainable and broad-based.

• Percent of List Price Received:
  99.7% (↑ slightly from 99.4%)
  → Sellers are receiving nearly full asking price. There is no meaningful discounting happening, indicating strong demand and realistic pricing strategies.

⏳ Days on Market

• Average Time to Sell:
  37 days (↑ 2 days from 35)
  → Homes are taking slightly longer to sell compared to last year overall, although October’s average actually dropped to 32 days, showing renewed buyer urgency heading into Q4.

🏘️ Inventory & Supply

• Homes for Sale in October:
  323 active listings (↑ 3.2% from 313)
  → More listings are available, giving buyers more choice. However, this is still low compared to historical norms.

• Months Supply of Inventory:
  2.5 months (unchanged from last year)
  → Monroe remains a solid seller’s market. A balanced market typically has 5–6 months of supply. With just 2.5 months available, demand is outpacing supply.

🧠 Insight: What This All Means

Monroe County is showing signs of a robust and healthy real estate market — one that’s benefiting from stable buyer demand, rising values, and enough inventory to keep things moving but not enough to tip the market into oversupply.

Here’s what stands out:

• It’s a rare “Goldilocks” market — not too hot, not too cold. Prices are rising steadily, transactions are up, and sellers are getting full value.

• Homes are still affordable relative to nearby counties, which may be drawing in buyers priced out of other markets like Wayne or Washtenaw.

• No signs of distress or slowdown — pricing, buyer behavior, and inventory levels all suggest stability, sustainability, and strength.

💬 Jordan’s Advice:

• Thinking of Selling?
  With values near all-time highs and buyers paying nearly full price, it's an ideal time to capture equity gains before more inventory arrives in 2026.

• Looking to Buy?
  Monroe remains one of the most value-packed markets in Southeast Michigan. Acting now means locking in future appreciation and building equity quickly — even as prices climb.

• Investor?
  Steady rental demand, rising property values, and low carrying costs make Monroe a quietly powerful long-term investment opportunity.

🔗 Let’s Talk Monroe Strategy

I live and breathe this market. Whether you're planning to list, buy, or invest, let’s craft a strategy that aligns with your goals — not just your zip code.

📧 jordan@downriversynergy.com
🌐 jordanbobbitt.realtor
📱 734-301-8667 Call or text anytime