Is Montgomery County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Montgomery County was a Seller's Market.
Housing Prices in Montgomery County, PA
How much do homes in Montgomery County, PA cost?
Median Sold Price
$424,415
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Montgomery County was $424,415 in March 2024, up 3.9% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $163K | $175K | +7.4% |
2 Bedrooms | $270K | $280.1K | +3.7% |
3 Bedrooms | $373.7K | $389.7K | +4.3% |
4 Bedrooms | $528.3K | $550K | +4.1% |
5+ Bedrooms | $700.8K | $686.3K | -2.1% |
Summary: Montgomery County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.4%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Counties
Chester County | $466.5K | $500.2K | +7.2% |
Montgomery County | $408.5K | $424.4K | +3.9% |
Delaware County | $319.2K | $331.8K | +3.9% |
Bucks County | $445.1K | $459.3K | +3.2% |
Philadelphia County | $272.2K | $257.5K | -5.4% |
Housing Supply in Montgomery County, PA
How many homes are available in Montgomery County, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,676 | 2,807 | +4.9% |
Summary: The Montgomery County real estate market had 2,807 homes for sale in March 2024, a 4.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 57 | 62 | +8.8% |
2 Bedrooms | 329 | 320 | -2.7% |
3 Bedrooms | 1,070 | 1,138 | +6.4% |
4 Bedrooms | 803 | 840 | +4.6% |
5+ Bedrooms | 417 | 447 | +7.2% |
Summary: The Montgomery County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.8%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 7.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
399 | 439 | +10.0% |
Asking Price vs. Sold Price
137 Homes Were Sold
Under Asking
87 Homes Were Sold
At Asking
215 Homes Were Sold
Over Asking
Summary: A total of 439 homes were sold or pending in Montgomery County in March 2024, up by 10.0% month-over-month. Of the 439 sold homes, 31% were sold under asking, 20% were sold at asking, and 49% were sold over asking.
Days on Market for Montgomery County, PA
How long does it take to sell a home in Montgomery County, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 22 Days | -16.7% |
Summary: Homes in Montgomery County had an average of 22 days on market in Mar 2024, down by 16.7% compared to last year.
Breakdown of Home Sale Times
350 Homes Were Sold
Under 30 Days
62 Homes Were Sold
In 30 - 90 Days
27 Homes Were Sold
Over 90 Days
Summary: During March 2024, 439 homes were sold in Montgomery County; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.