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Town Of Montgomery NY Real Estate Market Report | June 2013
Current Market Conditions July 11th 2013
Town of Montgomery NY Real Estate Market Report
The Montgomery NY single family residential home absorption rate is at a 12 month supply which is down from the previous month of May. Buyers are purchasing homes and the number of homes replacing those on the market is slowing down. Decreasing inventory can result in a seller’s market which in turn can result in higher prices. A buyer’s market doesn’t happen until there is less than a 6 month supply of inventory. We still have a way to go before that happens.
There are 114 single family homes currently on the market (15 new listings in June down from 19 in May) The average list price is $308,000 (ranging from $85,000 to 895,999) There are 24 homes currently under contract (average list price of $244,000) In June there were 8 homes that closed and transferred title (down from 11 closings in May) The average sold price was $253,425, ranging from $161,500 to $344,050 and spending an average of 229 days on the market. 48 homes closed sales from January 1st of 2013, with an average sold price of $253,073 spending an average of 181 days on the market compared to 38 ... more
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