Is Monroe City, IN 47557 a buyer’s or seller’s market?
Monroe City is a seller’s market. With about 1.6 months of supply and 0% 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 City housing market right now
In the three months ending August 31, 2026, 0% of homes in Monroe City, IN 47557 sold above their list price, the typical home went under contract in 23 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (6 days then) and the median sale price rose 84% to $289,875. Overall, Monroe City is less competitive than a year ago, which gives buyers more room.
Within Knox County, homes here sell faster than in 80% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Bicknell 47512 (25% sold over asking) and Oaktown 47561 (25% sold over asking) are even more competitive.
Run the numbers for 47557
Nearby markets
Bicknell 47512Balanced $109 /sq ftBruceville 47516 $69 /sq ftEdwardsport 47528Seller’s market $80 /sq ftOaktown 47561Seller’s market $71 /sq ft Browse all markets →Towns like Monroe City nearby
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Questions about Monroe City real estate
Is Monroe City a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Monroe City, IN 47557 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 City?
The typical home went under contract in 23 days in the latest three months.
Do homes in Monroe City sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.
What are property taxes in Monroe City?
About 0.68% of a home’s value a year in Knox County, or roughly $2,720 on a $400,000 home.
What is the median home price in Monroe City?
The median sale price was $289,875 in the three months ending August 31, 2026, about $126 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