Is Montgomery County, PA 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 County has remained a Seller's Market.
Key Takeaway
Montgomery County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery County, PA
How much do homes in Montgomery County, PA cost?
Median Sold Price
$425,278
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montgomery County have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Montgomery County was $425,278 in April 2024, up 3.8% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $176.5K | +5.4% |
| 2 Bedrooms | $270K | $285K | +5.6% |
| 3 Bedrooms | $374.7K | $391.3K | +4.4% |
| 4 Bedrooms | $530.9K | $550K | +3.6% |
| 5+ Bedrooms | $720.8K | $703.3K | -2.4% |
Summary: Montgomery County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Counties
| Chester County | $469.9K | $503K | +7.0% |
| Delaware County | $317.2K | $334.5K | +5.5% |
| Montgomery County | $409.6K | $425.2K | +3.8% |
| Bucks County | $446.5K | $460K | +3.0% |
| Philadelphia County | $269.7K | $258.6K | -4.1% |
Housing Supply in Montgomery County, PA
How many homes are available in Montgomery County, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,829 | 2,127 | +16.3% |
Summary: The Montgomery County real estate market had 2,127 homes for sale in April 2024, a 16.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 45 | 48 | +6.7% |
| 2 Bedrooms | 237 | 273 | +15.2% |
| 3 Bedrooms | 759 | 846 | +11.5% |
| 4 Bedrooms | 539 | 666 | +23.6% |
| 5+ Bedrooms | 249 | 294 | +18.1% |
Summary: The Montgomery County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 23.6%, and 5+ bedroom homes increased by 18.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 504 | 493 | -2.2% |
Asking Price vs. Sold Price
130 Homes Were Sold
Under Asking
92 Homes Were Sold
At Asking
271 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery County, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 493 homes were sold or pending in Montgomery County in April 2024, down by 2.2% month-over-month. Of the 493 sold homes, 26% were sold under asking, 19% were sold at asking, and 55% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 18 Days | -5.3% |
Summary: Homes in Montgomery County had an average of 18 days on market in Apr 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
426 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montgomery County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 493 homes were sold in Montgomery County; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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