Is Montrose, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montrose is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Montrose has remained a Seller's Market.

Key Takeaway

Montrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Montrose, TX

How much do homes in Montrose, TX cost?

Median Sold Price

$620,000

$256/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,000(-0.8%)

Key Takeaway

Homes in Montrose have sold for 0.8% less than they did a year ago.

Summary: The median home sold price in Montrose was $620,000 in May 2024, down 0.8% from last year, and the median price per square foot was $256.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $215K$227.5K
+5.8%
2 $395K$422.5K
+7.0%
3 $643.4K$649.9K
+1.0%
4 $879K$972K
+10.6%
5+ $893.7K$1.4M
+60.3%

Summary: Montrose housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 60.3%.

Median Sold Price Compared To Nearby Neighborhoods

Fourth Ward
+6.7%
Midtown
+6.7%
Montrose
-0.8%
Magnolia Grove
-3.0%
Westmoreland
-56.2%

Housing Supply in Montrose, TX

How many homes are available in Montrose, TX?

Number of Homes For Sale

Apr 2024May 2024CHANGE
305319+4.6%

Summary: The Montrose real estate market had 319 homes for sale in May 2024, a 4.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3239
+21.9%
2 7159
-16.9%
3 135137
+1.5%
4 5973
+23.7%
5+ 811
+37.5%

Summary: The Montrose housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.9%, 2 bedroom homes decreased by 16.9%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
75750.0%

Asking Price vs. Sold Price

54 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montrose, you may be able to get a good deal. 72% of homes here sold below asking price last month.

Summary: A total of 75 homes were sold or pending in Montrose in May 2024, the same as the previous month. Of the 75 sold homes, 72% were sold under asking, 15% were sold at asking, and 13% were sold over asking.

Days on Market for Montrose, TX

How long does it take to sell a home in Montrose, TX?

Average Sale Time

May 2023May 2024CHANGE
43 Days44 Days+1.9%

Summary: Homes in Montrose had an average of 44 days on market in May 2024, up by 1.9% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 75 homes were sold in Montrose; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% 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 Montrose, TX

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