Is Montgomery, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery is a seller's market

Buyer's
Market

Difference Since May 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, IL

How much do homes in Montgomery, IL cost?

Median Sold Price

$283,000

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$6,950(-2.4%)

Key Takeaway

Homes in Montgomery have sold for 2.4% less than they did a year ago.

Summary: The median home sold price in Montgomery was $283,000 in May 2024, down 2.4% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $180K$210K
+16.7%
2 $220.5K$240K
+8.8%
3 $270K$274.9K
+1.8%
4 $359K$380K
+5.8%
5+ $375K$400K
+6.7%

Summary: Montgomery housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 6.7%.

Median Sold Price Compared To Nearby Cities

Aurora Township
+18.0%
Sugar Grove Township
+5.5%
Oswego
+5.3%
Oswego Township
+4.4%
Montgomery
-2.4%

Housing Supply in Montgomery, IL

How many homes are available in Montgomery, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6764-4.5%

Summary: The Montgomery real estate market had 64 homes for sale in May 2024, a 4.5% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1716
-5.9%
3 3131
0.0%
4 1413
-7.1%
5+ 43
-25.0%

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 decreased by 5.9%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2623-11.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery, you could pay more than the asking price. 87% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in Montgomery in May 2024, down by 11.5% month-over-month. Of the 23 sold homes, 4% were sold under asking, 9% were sold at asking, and 87% were sold over asking.

Days on Market for Montgomery, IL

How long does it take to sell a home in Montgomery, IL?

Average Sale Time

May 2023May 2024CHANGE
9 Days17 Days+82.6%

Summary: Homes in Montgomery had an average of 17 days on market in May 2024, up by 82.6% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 23 homes were sold in Montgomery; 87% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Montgomery, IL

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