Is Montgomery, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Montgomery was a Buyer's Market.
Housing Prices in Montgomery, NY
How much do homes in Montgomery, NY cost?
Median Sold Price
$442,500
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Montgomery was $442,500 in May 2024, up 8.7% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $272K | $311.5K | +14.5% |
3 Bedrooms | $387K | $401.5K | +3.7% |
4 Bedrooms | $547.5K | $592K | +8.1% |
5+ Bedrooms | $675K | $590K | -12.6% |
Summary: Montgomery housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 12.6%.
Housing Supply in Montgomery, NY
How many homes are available in Montgomery, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 60 | +22.4% |
Summary: The Montgomery real estate market had 60 homes for sale in May 2024, a 22.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 22 | 23 | +4.5% |
4 Bedrooms | 21 | 30 | +42.9% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Montgomery housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 11 | +120.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Montgomery in May 2024, up by 120.0% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Montgomery, NY
How long does it take to sell a home in Montgomery, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
57 Days | 42 Days | -25.0% |
Summary: Homes in Montgomery had an average of 42 days on market in May 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Montgomery; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.