Is Monroe, VA 24574 a buyer’s or seller’s market?
Monroe is a seller’s market. With about 2.5 months of supply and 31% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Monroe housing market right now
In the three months ending August 31, 2026, 31% of homes in Monroe, VA 24574 sold above their list price, the typical home went under contract in 21 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 25%, homes sold more slowly (3 days then) and the median sale price fell 16% to $309,866. Overall, Monroe is about as competitive as it was a year ago.
Nearby, buyers who want less competition could look at Amherst 24521 (14% sold over asking) or Madison Heights 24572 (29% sold over asking).
Run the numbers for 24574
Nearby markets
Amherst 24521Balanced $191 /sq ftMadison Heights 24572Seller’s market $167 /sq ft Browse all markets →Towns like Monroe nearby
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Questions about Monroe real estate
Is Monroe a buyer’s or seller’s market?
A seller’s market: there were 2.5 months of supply in Monroe, VA 24574 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Monroe?
The typical home went under contract in 21 days in the latest three months.
Do homes in Monroe sell over asking?
31% of homes sold above their original list price, and the typical sale closed at 97.5% of the list price.
What are property taxes in Monroe?
About 0.46% of a home’s value a year in Amherst County, or roughly $1,840 on a $400,000 home.
What is the median home price in Monroe?
The median sale price was $309,866 in the three months ending August 31, 2026, about $213 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology