Is Montgomery, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
At the same time last year, Montgomery was a Buyer's Market.
Key Takeaway
Montgomery is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Montgomery, NY cost?
Median Sold Price
$415,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Montgomery have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Montgomery was $415,000 in August 2023, up 6.5% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $244K | $285K | +16.8% |
| 3 Bedrooms | $370K | $387K | +4.6% |
| 4 Bedrooms | $490K | $555K | +13.3% |
| 5+ Bedrooms | $532.5K | $675K | +26.8% |
Summary: Montgomery housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 26.8%.
Housing Supply
How many homes are available in Montgomery, NY?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 42 | 41 | -2.4% |
Summary: The Montgomery real estate market had 41 homes for sale in August 2023, a 2.4% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Montgomery housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Montgomery in August 2023, up by 28.6% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market
How long does it take to sell a home in Montgomery, NY?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 78 Days | 44 Days | -42.9% |
Summary: Homes in Montgomery had an average of 44 days on market in Aug 2023, down by 42.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Montgomery has remained consistent over time.
Summary: During August 2023, 9 homes were sold in Montgomery; 22% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.