Montgomery Real Estate Market Trends
The Montgomery real estate market is constantly changing. Many factors influence it including the national and local economy, world events,
buyer perception and a host of other variables. Keeping track of local market conditions is important for several reasons:
Your home is your primary asset and real estate has historically appreciated over time. Understanding how much your home is
appreciating is useful in determining your equity position. If you are planning a move sometime in the near future, understanding
seasonal and long-term market fluctuations will allow you to better plan your move and know what to expect while your home
is on the market. Market condition reports are run monthly and contain information on the previous month's sales data. If you have
any questions or would like a custom market report, please contact me.
December Market Conditions
Detached Style Single-Family Homes
The median price of homes on the market in Montgomery dropped in December, going from $264,900 in November to $259,900 in
December. However, during the same time, the median price of homes being sold in Montgomery rose significantly from $258,560 to
$269,375. The number of homes on the market dropped during the month of December, from 293 units to 263 - the lowest since Feb '06. Also during
the same period, the number of homes sold rose significantly from 37 to 50. Despite rising sales and a reduction in inventory, the number of months
worth of inventory on the market actually rose from 8.4 in November to a 2-year high of 9.0 in December.
Access these detailed reports here:
December Median Sales
December Supply and Demand
December Inventory
Attached Style Single-Family Homes
Median home prices in Montgomery rose in December from $192,500 to $197,000. Like detached-style homes, the median price of
homes sold in December rose significantly from $169,000 to $189,700. In December, the number of attached-style homes on the market
rose slightly from 53 units in November to 57 in December while the number sold remained steady at 4. These figures contributed
to a rise in on-market inventory from 8.6 months in November to 9.4 in December.
Access these detailed reports here:
December Median Sales
December Supply and Demand
December Inventory
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