Is Monroe, SD 57047 a buyer’s or seller’s market?
Monroe is a seller’s market. With about 3.2 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 housing market right now
In the three months ending August 31, 2026, 0% of homes in Monroe, SD 57047 sold above their list price, the typical home went under contract in 16 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.
Within McCook 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.
Run the numbers for 57047
Nearby markets
Bridgewater 57319Buyer’s market $102 /sq ftCanistota 57012Buyer’s market $199 /sq ftMontrose 57048Seller’s market $172 /sq ftSalem 57058Buyer’s market $132 /sq ft Browse all markets →Where Monroe is
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Questions about Monroe real estate
Is Monroe a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Monroe, SD 57047 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 16 days in the latest three months.
Do homes in Monroe sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 76.7% of the list price.
What are property taxes in Monroe?
About 1.06% of a home’s value a year in McCook County, or roughly $4,240 on a $400,000 home.
What is the median home price in Monroe?
The median sale price was $114,950 in the three months ending August 31, 2026, about $64 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