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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery is a 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, GA

How much do homes in Montgomery, GA cost?

Median Sold Price

$760,000

$271/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$81,666(+12.0%)

Key Takeaway

Homes in Montgomery have sold for 12% more than they did a year ago.

Summary: The median home sold price in Montgomery was $760,000 in June 2024, up 12% from last year, and the median price per square foot was $271.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$255K
N/A
2 $430K$585K
+36.0%
3 $598.5K$715K
+19.5%
4 $825K$841K
+1.9%
5+ $1.1M$1.2M
+5.4%

Summary: Montgomery housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36%, 3 bedroom homes increased by 19.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 5.4%.

Median Sold Price Compared To Nearby Cities

Montgomery
+12.0%
Savannah
+9.1%
Tybee Island-Wilmington Island
+4.7%

Housing Supply in Montgomery, GA

How many homes are available in Montgomery, GA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
148141-4.7%

Summary: The Montgomery real estate market had 141 homes for sale in June 2024, a 4.7% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 52
-60.0%
3 6869
+1.5%
4 5852
-10.3%
5+ 1718
+5.9%

Summary: The Montgomery housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes increased by 5.9%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4728-40.4%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 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. 64.3% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Montgomery in June 2024, down by 40.4% month-over-month. Of the 28 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.

Days on Market for Montgomery, GA

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

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Montgomery are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 28 homes were sold in Montgomery; 4% 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.

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

Report Updated 11 Days Ago

Newest Listings in Montgomery, GA

Nearby Markets to Montgomery, GA

What housing markets are near Montgomery, GA?