Monrovia, CA Real Estate for Sale

In December 2024, Monrovia home prices saw a significant 24.7% increase year-over-year, with the median sale price reaching $1.1 million. Homes continued to sell at a steady pace, spending an average of 36 days on the market, unchanged from the previous year. However, market activity picked up, with 20 homes sold in December compared to 16 last year, indicating growing demand despite rising prices. This trend suggests that buyers remain highly interested in Monrovia’s housing market, making it a competitive space for both sellers and investors.

The Monrovia housing market is highly competitive, with homes typically selling in 35 days. Many properties receive multiple offers, some with waived contingencies, reflecting strong buyer demand. On average, homes sell for about 1% above the listing price and go pending within 35 days. However, highly sought-after properties, or hot homes, can sell for around 3% above the asking price and go under contract in as little as 23 days, making quick action essential for buyers.

In December 2024, Monrovia, CA, remained a seller’s market, meaning buyer demand outweighs available inventory. With more people looking to purchase than there are homes for sale, sellers often have the advantage, leading to faster sales, multiple offers, and competitive pricing. Buyers should be prepared to act quickly and submit strong offers, while sellers can benefit from favorable market conditions.