Homes in Montgomery NY are selling. Inventory is falling and buyers are out scouting the market for a new home. Last peak of analysis shows that we are at an 11.5 month supply of homes for sale. We still remain in a buyers market as the numbers still need to go lower. We still have a way to go before that happens. Buyers are now making an effort to lock in a home and move forward with interest rates creeping up in the last month. Nothing major, but the reality of the end of the low rates may be happening. No way to tell, but if you need to buy, now is the time.
There are 102 single family homes currently on the market (9 new listings in July down from 15 in June)
The average list price is $304,000 (ranging from $271,500 to 895,999)
There are 22 homes currently under contract (average list price of $263,000 and days on market at 157)
In July there were 9 homes that closed and transferred title (up from 8 closings in June)
The average sold price was $238,525, spending an average of 139 days on the market.
105 homes closed in the last twelve months. The average sold price of $253,073 spending an average of 161 days on the market compared to 88 in the previous twelve months.
This puts Montgomery in a 11.5 month supply of homes for sale. We continue to be in a buyers market at this point, but this is a great improvement over the previous year.
This Housing Market report is based on single family homes for sale in the Town and the Village of Montgomery NY. It is an analysis of the market based on information from the Hudson Gateway Association of Realtors current statistics. Neighborhoods statistics can and do change daily. If you are looking to buy or sell a home this information is important to you. All the tools available to me are how I make sure to advise my clients with pricing and trends in the area. Let me know how I can help when you are ready to buy or sell your home in Montgomery.
Ask for a FREE Comparative Market Analysis and let me provide you with information about your home. Not knowing can become very costly when it comes time to sell. You need an Orange County NY Realtor that knows the area.