$4,216 Closing Credit*
$355,000
1,470 SqFt
3 Beds
•2 Full Baths, 1 Partial
Jason Trotman, Listing Office: Realty Pros
Is Montgomery Village, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Montgomery Village has remained a Seller's Market.
Key Takeaway
Montgomery Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery Village, MD
How much do homes in Montgomery Village, MD cost?
Median Sold Price
$378,500
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$8,833(+2.4%)
Key Takeaway
Homes in Montgomery Village have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Montgomery Village was $378,500 in August 2024, up 2.4% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $156.9K | $165.5K | +5.4% |
| 2 Bedrooms | $209K | $280K | +34.0% |
| 3 Bedrooms | $375K | $380K | +1.3% |
| 4 Bedrooms | $510K | $523K | +2.5% |
| 5+ Bedrooms | $625K | $675K | +8.0% |
Summary: Montgomery Village housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 34%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 8%.
Housing Supply in Montgomery Village, MD
How many homes are available in Montgomery Village, MD?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 107 | 103 | -3.7% |
Summary: The Montgomery Village real estate market had 103 homes for sale in August 2024, a 3.7% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 11 | +37.5% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 39 | 40 | +2.6% |
| 4 Bedrooms | 33 | 26 | -21.2% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Montgomery Village housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 21.2%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 43 | 31 | -27.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery Village, you could pay more than the asking price. 41.9% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Montgomery Village in August 2024, down by 27.9% month-over-month. Of the 31 sold homes, 23% were sold under asking, 35% were sold at asking, and 42% were sold over asking.
Days on Market for Montgomery Village, MD
How long does it take to sell a home in Montgomery Village, MD?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 9 Days | 20 Days | +124.7% |
Summary: Homes in Montgomery Village had an average of 20 days on market in Aug 2024, up by 124.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montgomery Village are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 31 homes were sold in Montgomery Village; 77% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
