Is Montgomery, IL 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 April 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, IL

How much do homes in Montgomery, IL cost?

Median Sold Price

$333,500

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$33,500(+11.2%)

Key Takeaway

Homes in Montgomery have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in Montgomery was $333,500 in April 2024, up 11.2% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $180K$235K
+30.6%
2 $220.5K$240K
+8.8%
3 $283K$288K
+1.8%
4 $360K$385K
+6.9%
5+ $370K$395K
+6.8%

Summary: Montgomery housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.6%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6.8%.

Median Sold Price Compared To Nearby Neighborhoods

Montgomery
+11.2%
Boulder Hill
+5.0%

Housing Supply in Montgomery, IL

How many homes are available in Montgomery, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4645-2.2%

Summary: The Montgomery real estate market had 45 homes for sale in April 2024, a 2.2% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1014
+40.0%
3 1816
-11.1%
4 1410
-28.6%
5+ 45
+25.0%

Summary: The Montgomery housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1821+16.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in Montgomery in April 2024, up by 16.7% month-over-month. Of the 21 sold homes, 24% were sold under asking, 19% were sold at asking, and 57% were sold over asking.

Days on Market for Montgomery, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
11 Days6 Days-45.4%

Summary: Homes in Montgomery had an average of 6 days on market in Apr 2024, down by 45.4% compared to last year.

Breakdown of Home Sale Times

21 Homes Were 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 April 2024, 21 homes were sold in Montgomery; 100% 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 3 Days Ago

Newest Listings in Montgomery, IL

Nearby Markets to Montgomery, IL