Inventory in Monrovia has expanded compared with a year ago, with active listings up about a third while months of supply has climbed roughly 56 percent to 2.9. Even with more options, contract activity is steady, as homes sold over the rolling three-month period are up about 35 percent year over year. New listings have more than doubled compared with last year, signaling that more owners are testing the market.
Pricing is adjusting to this added supply. The typical home value over the rolling three-month window is down nearly 20 percent from a year ago, while the median list price has fallen almost 18 percent year over year. Homes are taking a bit less time to sell than they did last year, with median days on market edging down about 4 percent to 68 days, and the average sale-to-list ratio has slipped to about 98 percent, indicating buyers have slightly more room to negotiate.
Conditions today look different from the recent past, when a significant share of homes sold above list price. Over the latest three-month period, none of the closed sales were above asking, and only about 12 percent of listings went off the market within two weeks, a notable change from earlier fast-paced periods. With Monrovia still classified as a seller’s market but showing more balance, both buyers and sellers can benefit from Agent Pronto’s help in finding an experienced local agent to navigate these trends.
