Monroe's real estate market is experiencing a price correction, with values down 5.3% from last year. Home prices have increased 2.2% in the past month alone. At the current pace, all available homes in Monroe would sell out in just 1.5 months, indicating a continued supply shortage. Homes are taking about 37 days to sell, which is 12 days longer than this time last year. A significant 28.2% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 46.2% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Monroe market with the affordability index at 43.6. Looking ahead, the Monroe market is expected to maintain its current trajectory with relatively stable conditions.