$2,326 Closing Credit*
$195,900
Sherri Phelps, Listing Office: GoodLife Real Estate, LLC.
Is Montgomery, AL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Montgomery was a Seller's Market.
Key Takeaway
Montgomery is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Montgomery, AL
How much do homes in Montgomery, AL cost?
Median Sold Price
$179,979
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,162(+3.0%)
Key Takeaway
Homes in Montgomery have sold for 3% more than they did a year ago.
Summary: The median home sold price in Montgomery was $179,979 in October 2024, up 3% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $121.5K | -27.5% |
| 2 Bedrooms | $119.4K | $95.9K | -19.7% |
| 3 Bedrooms | $149.5K | $151.5K | +1.4% |
| 4 Bedrooms | $260.2K | $269.1K | +3.4% |
| 5+ Bedrooms | $400K | $380K | -5.0% |
Summary: Montgomery housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.5%, 2 bedroom homes decreased by 19.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
| Hope Hull | $120K | $219K | +82.5% |
| Montgomery | $174.8K | $179.9K | +3.0% |
| Mount Meigs | $304.9K | $306.1K | 0.4% |
| Pike Road | $360.2K | $357.9K | -0.7% |
Housing Supply in Montgomery, AL
How many homes are available in Montgomery, AL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,051 | 1,149 | +9.3% |
Summary: The Montgomery real estate market had 1,149 homes for sale in October 2024, a 9.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 77 | 86 | +11.7% |
| 3 Bedrooms | 531 | 587 | +10.5% |
| 4 Bedrooms | 355 | 379 | +6.8% |
| 5+ Bedrooms | 84 | 92 | +9.5% |
Summary: The Montgomery housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 181 | 191 | +5.5% |
Asking Price vs. Sold Price
98 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery, you may be able to get a good deal. 51.3% of homes here sold below asking price last month.
Summary: A total of 191 homes were sold or pending in Montgomery in October 2024, up by 5.5% month-over-month. Of the 191 sold homes, 51% were sold under asking, 30% were sold at asking, and 18% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 65 Days | +12.6% |
Summary: Homes in Montgomery had an average of 65 days on market in Oct 2024, up by 12.6% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
92 Homes Were Sold
In 30 - 90 Days
41 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Montgomery has remained consistent over time.
Summary: During October 2024, 191 homes were sold in Montgomery; 30% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Listing Information Copyright 2024 Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS®, Inc. All rights reserved. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. The information being provided is for consumers personal, non-commercial use and will not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this web site comes in part from the IDX Program of the Multiple Listing Service, Inc. of Montgomery Area Association of REALTORS® Inc. Real estate listings held by brokerage firms other than this broker are governed by MLS Rules and Regulations and detailed information about them includes the name of the listing companies. 
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