Is Montgomery, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Montgomery has remained a Seller's Market.
Key Takeaway
Montgomery is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery, AL
How much do homes in Montgomery, AL cost?
Median Sold Price
$178,125
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Montgomery have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Montgomery was $178,125 in June 2024, up 4.4% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $121.5K | -34.3% |
| 2 Bedrooms | $119.4K | $102.5K | -14.2% |
| 3 Bedrooms | $148.8K | $149.9K | +0.7% |
| 4 Bedrooms | $265.3K | $268K | +1.0% |
| 5+ Bedrooms | $399.1K | $377.2K | -5.5% |
Summary: Montgomery housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.3%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Montgomery | $170.6K | $178.1K | +4.4% |
| Mount Meigs | $298K | $304.9K | +2.3% |
| Hope Hull | $152.5K | $119.5K | -21.6% |
Housing Supply in Montgomery, AL
How many homes are available in Montgomery, AL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 986 | 1,026 | +4.1% |
Summary: The Montgomery real estate market had 1,026 homes for sale in June 2024, a 4.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 72 | 71 | -1.4% |
| 3 Bedrooms | 490 | 504 | +2.9% |
| 4 Bedrooms | 337 | 353 | +4.7% |
| 5+ Bedrooms | 83 | 95 | +14.5% |
Summary: The Montgomery housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 210 | 220 | +4.8% |
Asking Price vs. Sold Price
117 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery, you may be able to get a good deal. 53.2% of homes here sold below asking price last month.
Summary: A total of 220 homes were sold or pending in Montgomery in June 2024, up by 4.8% month-over-month. Of the 220 sold homes, 53% were sold under asking, 30% were sold at asking, and 17% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 64 Days | 88 Days | +36.4% |
Summary: Homes in Montgomery had an average of 88 days on market in Jun 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
111 Homes Were Sold
In 30 - 90 Days
59 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Montgomery has remained consistent over time.
Summary: During June 2024, 220 homes were sold in Montgomery; 23% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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