Is Montgomery, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Montgomery was a Seller's Market.

Key Takeaway

Montgomery is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Montgomery, NY

How much do homes in Montgomery, NY cost?

Median Sold Price

$488,450

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$73,450(+17.7%)

Key Takeaway

Homes in Montgomery have sold for 17.7% more than they did a year ago.

Summary: The median home sold price in Montgomery was $488,450 in September 2024, up 17.7% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $287.7K$310K
+7.7%
3 $389K$430K
+10.5%
4 $547.5K$592K
+8.1%
5+ $675K$567.3K
-15.9%

Summary: Montgomery housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 15.9%.

Housing Supply in Montgomery, NY

How many homes are available in Montgomery, NY?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5550-9.1%

Summary: The Montgomery real estate market had 50 homes for sale in September 2024, a 9.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 55
0.0%
3 2019
-5.0%
4 2824
-14.3%
5+ 22
0.0%

Summary: The Montgomery housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
117-36.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

4 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 7 homes were sold or pending in Montgomery in September 2024, down by 36.4% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.

Days on Market for Montgomery, NY

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

Average Sale Time

Sep 2023Sep 2024CHANGE
29 Days88 Days+194.7%

Summary: Homes in Montgomery had an average of 88 days on market in Sep 2024, up by 194.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 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 September 2024, 7 homes were sold in Montgomery; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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 30 Days Ago

Newest Listings in Montgomery, NY

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