Is Montgomery, AL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Montgomery is a neutral's market


Difference Since February 2023

At the same time last year, Montgomery was a Seller's Market.

Key Takeaway

Montgomery is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Montgomery, AL

How much do homes in Montgomery, AL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2023


Key Takeaway

Homes in Montgomery have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in Montgomery was $171,981 in February 2024, up 0.8% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $156.9K$162.4K
2 $115K$87K
3 $149.1K$144.9K
4 $262.3K$268.2K
5+ $407.1K$396K

Summary: Montgomery housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 24.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes decreased by 2.7%.

Median Sold Price Compared To Nearby Cities

Mount Meigs
Pike Road
Hope Hull

Housing Supply in Montgomery, AL

How many homes are available in Montgomery, AL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Montgomery real estate market had 888 homes for sale in February 2024, a 11.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 58
2 6478
3 403442
4 265288
5+ 6272

Summary: The Montgomery housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 21.9%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 16.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

76 Homes Were Sold
Under Asking

41 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery, you may be able to get a good deal. 55.5% of homes here sold below asking price last month.

Summary: A total of 137 homes were sold or pending in Montgomery in February 2024, up by 3.0% month-over-month. Of the 137 sold homes, 55% were sold under asking, 30% were sold at asking, and 15% were sold over asking.

Days on Market for Montgomery, AL

How long does it take to sell a home in Montgomery, AL?

Average Sale Time

Feb 2023Feb 2024CHANGE
71 Days76 Days+7.1%

Summary: Homes in Montgomery had an average of 76 days on market in Feb 2024, up by 7.1% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

57 Homes Were Sold
In 30 - 90 Days

40 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Montgomery has remained consistent over time.

Summary: During February 2024, 137 homes were sold in Montgomery; 29% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Montgomery, AL

Nearby Markets to Montgomery, AL

What housing markets are near Montgomery, AL?