Is Montgomery, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Montgomery has remained a Seller's Market.
Housing Prices in Montgomery, GA
How much do homes in Montgomery, GA cost?
Median Sold Price
$749,866
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Montgomery was $749,866 in March 2024, up 13.8% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $413.5K | $567K | +37.1% |
3 Bedrooms | $584.1K | $695K | +19.0% |
4 Bedrooms | $789K | $848.2K | +7.5% |
5+ Bedrooms | $1.1M | $1.0M | -5.1% |
Summary: Montgomery housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Cities
Savannah | $295.7K | $350.3K | +18.4% |
Montgomery | $658.9K | $749.8K | +13.8% |
Tybee Island-Wilmington Island | $430.9K | $450K | +4.4% |
Housing Supply in Montgomery, GA
How many homes are available in Montgomery, GA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
124 | 138 | +11.3% |
Summary: The Montgomery real estate market had 138 homes for sale in March 2024, a 11.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 60 | 69 | +15.0% |
4 Bedrooms | 41 | 43 | +4.9% |
5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Montgomery housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 36 | +50.0% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Montgomery in March 2024, up by 50.0% month-over-month. Of the 36 sold homes, 75% were sold under asking, 14% were sold at asking, and 11% were sold over asking.
Days on Market for Montgomery, GA
How long does it take to sell a home in Montgomery, GA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
73 Days | 2 Days | -97.3% |
Summary: Homes in Montgomery had an average of 2 days on market in Mar 2024, down by 97.3% compared to last year.
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
Summary: During March 2024, 36 homes were sold in Montgomery; 3% 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.