Monroe, MI 48161 Real Estate Market Report
ZIP Code: 48161
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Monroe, MI are averaging 6.25%, which is 0.38% higher than the 5.87% market average observed in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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$185,000 median sold price is the primary indicator of market value in Monroe (48161) and signals where recent transactions are clearing; given the $271,500 median listing price, there appears to be a meaningful gap that may indicate pricing friction between seller expectations and final sale prices.
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$185,000 median sold price combined with a median days on market of 261 suggests slower sales velocity and that transactions are taking longer to complete, which may indicate constrained liquidity despite strong headline pricing trends.
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$185,000 median sold price occurs within a market described as hot with a price year-over-year trend of up, implying continued upward pressure on values even as sales take longer to close.
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$185,000 median sold price should be interpreted alongside elevated interest rate pressure—mortgage rates are averaging 6.25%, ~0.38% above a recent market reference—which, together with rising rents (median market rent $995 and rent year-over-year trend up), suggests affordability headwinds for buyers and persistent demand for rental alternatives.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold above market average
Monroe, MI 48161 Real Estate Market Report
ZIP Code: 48161
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Monroe, MI are averaging 6.25%, which is 0.38% higher than the 5.87% market average observed in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary indicator of market value is the median sold price of 219,900, which anchors recent transaction activity and suggests firm price levels in the neighborhood given the broader up price trend.
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Despite the firm median sold price, the market shows slower sales velocity: the median days on market is 348, which may indicate prolonged time to transact and pricing friction between seller expectations and closed outcomes.
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Price per square foot remains elevated at 191, reinforcing the strength of per-unit pricing even as transaction pace slows; coupled with the market temperature labeled hot, this suggests sellers can still achieve strong dollar-per-square-foot results in many cases (hot).
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Rental and financing context is mixed for investors and owner-occupiers: median market rent is 1,395 and rent is trending up, but interest rate pressure is elevated—current 30-year fixed mortgage rates are 6.25%, which is 0.38% higher than the 5.87% market average observed in February 2026—this combination may constrain affordability and temper buyer demand even as rents rise (elevated).
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.1% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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