Is Montgomery County, IL 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 County has remained a Seller's Market.
Key Takeaway
Montgomery County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery County, IL
How much do homes in Montgomery County, IL cost?
Median Sold Price
$105,500
$75/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Montgomery County have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in Montgomery County was $105,500 in March 2024, up 17.2% from last year, and the median price per square foot was $75.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $24.7K | $40.4K | +63.4% |
| 2 Bedrooms | $59.7K | $72.5K | +21.3% |
| 3 Bedrooms | $115K | $125K | +8.7% |
| 4 Bedrooms | $122.4K | $167.5K | +36.8% |
| 5+ Bedrooms | $199.5K | $272.4K | +36.6% |
Summary: Montgomery County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.4%, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes increased by 36.6%.
Median Sold Price Compared To Nearby Counties
| Christian County | $98.9K | $119K | +20.3% |
| Montgomery County | $90K | $105.5K | +17.2% |
| Bond County | $140K | $151K | +7.9% |
| Macoupin County | $122.1K | $123.9K | +1.5% |
| Fayette County | $117.2K | $115K | -1.9% |
Housing Supply in Montgomery County, IL
How many homes are available in Montgomery County, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 67 | 66 | -1.5% |
Summary: The Montgomery County real estate market had 66 homes for sale in March 2024, a 1.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 17 | 14 | -17.6% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Montgomery County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Montgomery County in March 2024, down by 7.7% month-over-month. Of the 12 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Montgomery County, IL
How long does it take to sell a home in Montgomery County, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 88 Days | 77 Days | -12.0% |
Summary: Homes in Montgomery County had an average of 77 days on market in Mar 2024, down by 12% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Montgomery County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 12 homes were sold in Montgomery County; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.