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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery County is a neutral's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

Montgomery County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Montgomery County, NY

How much do homes in Montgomery County, NY cost?

Median Sold Price

$180,625

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$18,062(+11.1%)

Key Takeaway

Homes in Montgomery County have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Montgomery County was $180,625 in June 2024, up 11.1% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $100K$84.5K
-15.5%
2 $160K$174.5K
+9.1%
3 $174.4K$210K
+20.4%
4 $205K$175.1K
-14.6%
5+ $119.5K$158K
+32.2%

Summary: Montgomery County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.5%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 20.4%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 32.2%.

Median Sold Price Compared To Nearby Counties

Schoharie County
+18.1%
Montgomery County
+11.1%
Fulton County
+9.5%
Schenectady County
+9.3%
Herkimer County
-2.3%

Housing Supply in Montgomery County, NY

How many homes are available in Montgomery County, NY?

Number of Homes For Sale

May 2024Jun 2024CHANGE
222202-9.0%

Summary: The Montgomery County real estate market had 202 homes for sale in June 2024, a 9.0% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 42
-50.0%
2 2722
-18.5%
3 8375
-9.6%
4 5752
-8.8%
5+ 5151
0.0%

Summary: The Montgomery County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
4133-19.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery County, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Montgomery County in June 2024, down by 19.5% month-over-month. Of the 33 sold homes, 24% were sold under asking, 21% were sold at asking, and 55% were sold over asking.

Days on Market for Montgomery County, NY

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

Average Sale Time

Jun 2023Jun 2024CHANGE
36 Days21 Days-42.7%

Summary: Homes in Montgomery County had an average of 21 days on market in Jun 2024, down by 42.7% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Montgomery County are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 33 homes were sold in Montgomery County; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% 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 18 Days Ago

Newest Listings in Montgomery County, NY

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