Monroe, Conn.: A ‘Family-centric’ Community With a Small-Town Feel

Mike Korchinski, a department vice chairman at Coldwell Banker Realty, cited a 16 % improve in Monroe dwelling costs final year, and one other 4 % improve through the first quarter of 2022. “We are on pace for an annual increase of 12 percent for 2022,” he mentioned. “It’s astronomical.”

But that hasn’t stopped consumers. Jane Ferro, a gross sales affiliate with the Levinson Ferro Team at Coldwell Banker, mentioned sellers are receiving a number of gives inside days of itemizing their properties. “Inventory is low, buyers are coming in droves and everything is going over asking.”

Based on data offered to and compiled by SmartMLS, Inc., as of May 17 there have been 18 single-family properties on the market, from a 1,568-square-foot, three-bedroom colonial inbuilt 1955 on 0.23 acres and listed for $190,000, to a 6,942-square-foot, six-bedroom ­­­colonial inbuilt 1993 on 2.86 acres and listed for $1.749 million. There had been 10 condominiums on the market, from a 1,671-square-foot two-bedroom inbuilt 1994 and listed for $350,000, to a 2,456-square-foot, two-bedroom inbuilt 2022 and listed for $579,900. There was one multifamily dwelling on the market, a 3,591-square-foot five-bedroom listed for $539,900.

The median sale value for a single-family dwelling through the 12-month interval ending May 17 was $485,000, up from $440,800 through the previous 12 months. For multifamily properties, the median value was $429,500, down from $470,000 through the previous 12 months. For condominiums, the median value was $302,500, up from $235,000.