Is Montgomery Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Montgomery Township was a Seller's Market.
Housing Prices in Montgomery Township, NJ
How much do homes in Montgomery Township, NJ cost?
Median Sold Price
$835,000
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Montgomery Township was $835,000 in April 2024, up 4.3% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $232.5K | $352K | +51.4% |
2 Bedrooms | $480K | $495K | +3.1% |
3 Bedrooms | $600K | $625K | +4.2% |
4 Bedrooms | $891.5K | $995K | +11.6% |
5+ Bedrooms | $1.1M | $1.1M | -5.9% |
Summary: Montgomery Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51.4%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Cities
Belle Mead | $873K | $975K | +11.7% |
Skillman | $890K | $975K | +9.6% |
Montgomery Township | $800.5K | $835K | +4.3% |
Housing Supply in Montgomery Township, NJ
How many homes are available in Montgomery Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 91 | +33.8% |
Summary: The Montgomery Township real estate market had 91 homes for sale in April 2024, a 33.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 18 | 17 | -5.6% |
4 Bedrooms | 29 | 44 | +51.7% |
5+ Bedrooms | 16 | 25 | +56.3% |
Summary: The Montgomery Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 51.7%, and 5+ bedroom homes increased by 56.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Montgomery Township in April 2024, up by 36.4% month-over-month. Of the 15 sold homes, 7% were sold under asking, 7% were sold at asking, and 87% were sold over asking.
Days on Market for Montgomery Township, NJ
How long does it take to sell a home in Montgomery Township, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 8 Days | -44.6% |
Summary: Homes in Montgomery Township had an average of 8 days on market in Apr 2024, down by 44.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Montgomery Township; 40% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.