$2,731 Closing Credit*
$230,000
1,050 SqFt
2 Beds
•2 Full Baths
Nisha Kaur, Listing Office: NK Real Estate Group, LLC
Is Montgomery Village, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Montgomery Village has remained a Seller's Market.
Key Takeaway
Montgomery Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery Village, MD
How much do homes in Montgomery Village, MD cost?
Median Sold Price
$392,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,000(+6.2%)
Key Takeaway
Homes in Montgomery Village have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Montgomery Village was $392,000 in November 2024, up 6.2% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157.7K | $175K | +10.9% |
| 2 Bedrooms | $220K | $281K | +27.7% |
| 3 Bedrooms | $370K | $390K | +5.4% |
| 4 Bedrooms | $515K | $520.7K | +1.1% |
| 5+ Bedrooms | $635K | $670K | +5.5% |
Summary: Montgomery Village housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 5.5%.
Housing Supply in Montgomery Village, MD
How many homes are available in Montgomery Village, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 101 | 94 | -6.9% |
Summary: The Montgomery Village real estate market had 94 homes for sale in November 2024, a 6.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 26 | 29 | +11.5% |
| 3 Bedrooms | 36 | 31 | -13.9% |
| 4 Bedrooms | 25 | 21 | -16.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Montgomery Village housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 11.5%, 3 bedroom homes decreased by 13.9%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 23 | -34.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery Village, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Montgomery Village in November 2024, down by 34.3% month-over-month. Of the 23 sold homes, 35% were sold under asking, 13% were sold at asking, and 52% were sold over asking.
Days on Market for Montgomery Village, MD
How long does it take to sell a home in Montgomery Village, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 18 Days | +30.1% |
Summary: Homes in Montgomery Village had an average of 18 days on market in Nov 2024, up by 30.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montgomery Village are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 23 homes were sold in Montgomery Village; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
