Is Montgomery, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Montgomery has remained a Seller's Market.
Key Takeaway
Montgomery is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery, AL
How much do homes in Montgomery, AL cost?
Median Sold Price
$174,493
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montgomery have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Montgomery was $174,493 in April 2024, up 2.2% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $150K | -14.3% |
| 2 Bedrooms | $119.9K | $92.9K | -22.5% |
| 3 Bedrooms | $145.8K | $146.2K | 0.2% |
| 4 Bedrooms | $262.3K | $267.7K | +2.0% |
| 5+ Bedrooms | $409K | $392K | -4.2% |
Summary: Montgomery housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 22.5%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Hope Hull | $249.9K | $282.5K | +13.0% |
| Mount Meigs | $293K | $303.5K | +3.6% |
| Montgomery | $170.7K | $174.4K | +2.2% |
| Pike Road | $364.9K | $355.7K | -2.5% |
| Hope Hull | $181.4K | $121.4K | -33.1% |
Housing Supply in Montgomery, AL
How many homes are available in Montgomery, AL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 911 | 965 | +5.9% |
Summary: The Montgomery real estate market had 965 homes for sale in April 2024, a 5.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 72 | 80 | +11.1% |
| 3 Bedrooms | 453 | 474 | +4.6% |
| 4 Bedrooms | 308 | 324 | +5.2% |
| 5+ Bedrooms | 74 | 81 | +9.5% |
Summary: The Montgomery housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 201 | 186 | -7.5% |
Asking Price vs. Sold Price
103 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.
Summary: A total of 186 homes were sold or pending in Montgomery in April 2024, down by 7.5% month-over-month. Of the 186 sold homes, 55% were sold under asking, 29% were sold at asking, and 16% were sold over asking.
Days on Market for Montgomery, AL
How long does it take to sell a home in Montgomery, AL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 80 Days | 80 Days | -0.5% |
Summary: Homes in Montgomery had an average of 80 days on market in Apr 2024, down by 0.5% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
87 Homes Were Sold
In 30 - 90 Days
49 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Montgomery has remained consistent over time.
Summary: During April 2024, 186 homes were sold in Montgomery; 27% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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