Homes for Sale in Monroe, Utah

Monroe’s residential market is anchored by a median sale price of $413 K, roughly 19 % lower than the Utah median of $510 K, yet it has experienced a dramatic 78 % price jump from the prior month. Buyers are still paying close to list, as reflected by a 96.9 % sale‑to‑list ratio, but homes are staying on the market longer—118 days on average, about 50 % more than the state norm—suggesting a modest excess of supply relative to demand. The limited activity (16 closed transactions versus 23 new listings) underscores a tight market with low turnover. On the macro side, mortgage rates have begun to climb again, with the 30‑year rate rising to 6.42 % in April after a brief dip to 6.06 % in February, aligning with the 30‑day upward trend noted in the data. Unemployment remains stable (Utah 3.6 %, U.S. 4.4 %) and consumer sentiment holds steady around the mid‑50s, while housing starts and permits have plateaued, indicating no imminent surge in new supply. Together, these factors keep Monroe’s market in a balanced state—prices are attractive relative to the state, buyer willingness remains high, but the longer days on market and rising financing costs temper any rapid escalation.