Monroe Ohio Real Estate Market

Posted by on Monday, April 14th, 2014 at 7:54am.    1437 Views

Monroe Ohio Real Estate Market Conditions Strong

monroe ohio real estate marketAs a resident of Monroe Ohio, I'm proud to have called it home most of my life. I graduated from the old LMHS (Lemon-Monroe High School) a few years ago. Well, to be honest, it was more than just a few years. It is my understanding, the old high school building has fallen into disrepair and is slated to be demolished sometime in the near future. I don't have any of the particulars about it at this time and at this time it is merely a rumor.

Monroe is no stranger to "out with the old and in with the new". The city's motto is also reflective of this, "Firmly Founded - Proudly Growing". I can remember growing up around here, the "city" people used to poke fun at the Monroe kids, calling us a bunch of "farmers". Monroe was a small village for many many years, but in June of 1995 took the plunge and became a city.

The majority of the city lies within Butler County Ohio, however the eastern portion is located in Warren County. The heavily traveled Interstate 75 is a huge contributor to the growth of the area surrounding the State Route 63 and I-75 interchange offering transportation routes to the east and west as well as the north and south. Several businesses, including the Cincinnati Premium Outlet Mall are located near this intersection.

Monroe Ohio Jobs

It seems that Monroe is no longer a "farm town". Many businesses have taken up root in our community and several more that are already here are expanding in addition to the new jobs headed our way. I will attempt to name a few of the larger ones, but it is by no means a complete list. 

  • Kohl's E-Commerce Distribution Center
  • Baker Concrete (Corporate Office)
  • Home Depot Rapid Deployment Center
  • Xerox MCO 
  • Worthington Industries
  • Deceuninck North America (North American Headquarters)
  • Ohio Presby Retirement (Mount Pleasant Retirement Village)
  • West Chester Holdings

A few months ago, Miami Valley Gaming opened up the first racino in the area. It is a combination casino and horse racing complex. There a few nice restaurants located inside of the complex as well. The racino is located in Turtlecreek Township, Warren County, but Monroe still enjoys some of the proceeds from the operations there. Just about any time you drive by, the parking lot is very crowded. Obviously, it has become a very popular destination and entertainment area.

Let's take a look at some of the real estate facts and figures for Monroe. As of 4/13/14, according to the Cincinnati MLS, there are 62 single family homes for sale. (this does not include condos or multi-families). The 62 listings represent a staggering $12,287,685 worth of real estate! The highest priced home is currently at $411,995 and the low being $93,000. The median price is $189,900. (this means that half of the homes for sale are priced below $189,900 and the other half are priced above it)

There are also 46 homes "pending sale" (homes under contract but have not yet closed). The highest priced pending home in Monroe, as of 4/13 is a healthy $360,000 and the lowest priced home is $59,000. The median pending price is at $171,000. (notice the difference in the active median price vs the pending median)?

Since January 1st of this year, 37 homes have "sold" (closed). The highest priced home that closed was at $250,000 and the lowest priced closing was a surprising, $27,000. (somebody got a heckava deal) The median priced sold home was $157,000 (again, notice the differences in the median prices). The total volume of real estate sold in Monroe since January 1st was $5,858,170. 

None of the real estate sales figures represent properties that were only included in the Dayton MLS. You are probably already aware, Monroe is located about midway between Dayton and Cincinnati, but the majority of the homes being sold are within the Cincy MLS. 

If you are looking to buy or sell a home in Monroe Ohio, I would be happy to assist you! You might like to know, I subscribe to both MLS systems in order to best service my client's needs. (some agents will only put their listing in one MLS or the other and not necessarily both) 

3 Responses to "Monroe Ohio Real Estate Market"

Greg Hancock wrote: Marty, I can vouch for this,

Monroe just seems to be one of those solid communities regarding local real estate markets, and "performed" better than many nearby communities when the chips were down in recent years and also seems to be gaining faster than it's neighbors in terms of desirability as reflected by price and inventory.

Posted on Wednesday, April 16th, 2014 at 9:36am.

Bill Westfall wrote: Marty. After reading your post, I now know why it is so hard to find some super cheap homes in Monroe. I am an investor and have been looking for some $20-30k homes in Monroe to buy and rent out, but am not having any luck. Perhaps I've already missed the boat? Perhaps I should be working with you anyway as you seem to know the market well. Are you taking on new clients?

Posted on Wednesday, April 16th, 2014 at 9:48am.

Marty Snyder wrote: Thanks, Greg.

Bill, I just ran a search on the Cincy MLS to help answer your concern. Since Jan. 1st of 2013, there has been 1 and I repeat, 1 single family home sold in Monroe under $30,000. Also, yes, I am taking on new clients, but am extremely busy. If you are willing to raise your price range to a more reasonable level, I'll be glad to help. But, if you want me to find you homes priced under $30k in Monroe, I simply don't have that kind of time. I am not trying to be rude, but simply realistic.

Posted on Wednesday, April 16th, 2014 at 10:02am.

Leave a Comment