$3,669 Closing Credit*
$309,000
1,344 SqFt
3 Beds
•2 Full Baths
Darin W Spieth, Listing Office: Spieth & Satow Auctions & Real Estate
Is Montgomery, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Montgomery was a Neutral Market.
Key Takeaway
Montgomery is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery, MI
How much do homes in Montgomery, MI cost?
Median Sold Price
$165,000
$221/sqft
Based on all homes sold in September 2024.
Difference Since Last Month
-$18,500(-10.1%)
Key Takeaway
Homes in Montgomery have sold for 10.1% less than they did a month ago.
Summary: The median home sold price in Montgomery was $165,000 in September 2024, down 10.1% from last month, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $157K | N/A |
| 3 Bedrooms | $183.5K | $248.5K | +35.4% |
| 4 Bedrooms | - | $165K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Montgomery housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 35.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Montgomery | $162K | $161K | -0.6% |
| Montgomery | $183.5K | $165K | -10.1% |
Housing Supply in Montgomery, MI
How many homes are available in Montgomery, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Montgomery real estate market had 11 homes for sale in September 2024, a 8.3% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Montgomery housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Montgomery in September 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Montgomery, MI
How long does it take to sell a home in Montgomery, MI?
Average Sale Time
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 42 Days | 89 Days | +111.0% |
Summary: Homes in Montgomery had an average of 89 days on market in Sep 2024, up by 111% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Montgomery are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 3 homes were sold in Montgomery; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
