Montgomery, NY December 2013 Year End Market Report

By
Real Estate Agent with Key Properties of the Hudson Valley NYS DRE #40BO1055114

Current Housing Market Condition 

Year End Housing Market Update for 2013 

Housing Sales continue to climb

2013 Year End Market Statistics for Montgomery NY

The 2013 numbers are in for the Montgomery NY housing market.  The number of single family homes sold in Montgomery rose slightly for the year.  Compared to 2012 an increase of 5.2% represents positive gains. Pricing remains relatively stable for sellers for the most part. Inventory is dwindling at this point and many of the homes listed are new construction. These homes while list, are not even built yet. New homes are popular in this local market. Sellers looking to compete with new are pricing their homes well and have less competition for immediate occupancy.  Our absorption rate fell to 10.7 months.  Seems that short sales are working their way out of the inventory which is good for everyone involved.

  • 101 homes sold in Montgomery for 2013
  • Median sale price of these homes were $234,500 with 90 Days on Market
  • Average sales price was $251,115 spending approximately 149 Days on Market.
  • The most expensive home sold was at $465,300
  • The least expensive home sold was $55,000
  • 12 Homes sold between $180,000 and $199,000
  • 21 homes sold between 200,000 and $249,000
  • 17  homes sold between 250,000 and $300,000
  • 17 homes sold between $300,000 and $399,000
  • 12 homes sold over the $400,000 price point
  • 8  short sale or bank owned homes sold in 2013
  • 90 current listings of single family homes for sale in Montgomery
  •  6 homes in Montgomery are currently under contract
  • the absorption rate for the Montgomery as of December 31, 2013  is at 10.7 months of inventory.

Looking at the last three years shows market fluctuations. Prices are bounding slightly from 2013 and we are happy to see that trend. The volume of homes sold is a great sign that the area is noted for value. Buyers continue to see  value in the  location for commuting, schools  and pricing.  There are a number of homes already under contract to close in 2014.

  • 2011 – 82   Homes Sold – Average Price  - $278,541
  • 2012 – 96  Homes Sold – Average Price – $248,105
  • 2013 – 101 Homes Sold – Average Price –  $251,112

The new year brings out new buyers. As inventory continues to decrease it is a great time to list your Montgomery home for sale. Many buyers can’t wait for springtime when the grass is green and the temperatures warm to begin their search. Motivated buyers are out looking now at homes during the winter chill.  While you may have less showings during the winter months,  those that do are more likely to be those serious buyers. Currently, listed homes priced right are disappearing. We are hoping for a strong 2014 in Montgomery NY and with these recent numbers that is definitely a reasonable expectation.

December 2013 Monthly Total Sales

  • A total of 4 single family homes sold
  • Average price was $283,877
  • Average home spent 77 Days on the market
  • Most expensive home sold was $415,000
  • The least expensive home sold was $180,000
  • Currently 6 homes are under contract in Montgomery NY

These statistics on Montgomery NY home sales are of both the Town and Village of Montgomery NY.  A community in Orange County NY, Montgomery is a great commuter location for many. We are only 63 miles north of New York City and close to I87 for an easy commute. If you are looking to find a home in Orange County NY, consider Montgomery with its rolling meadows and a variety of homes to choose from.  If you are looking to sell your Montgomery NY Home call for a FREE Comparative Market Analysis today.

Montgomery NY December 2013 Year End Market Report

published by: your real estate expert Janis Borgueta Key Properties of the Hudson Valley as a community service in Newburgh NY.  To receive more real estate information please subscribe to this blog.  Looking to buy a new home?  Search the MLS for New Homes in Newburgh NY. You can contact Janis at (845)-527-7115 or find her on Google+

Statistics represent single family homes  for sale in Montgomery NY (source HGAR ).  Information is deemed reliable, but not guaranteed.

Originally posted at  "Montgomery NY December 2013 Year End Market Report " by Janis Borgueta of Key Properties of the Hudson Valley. 

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Rainmaker
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Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

Very comprehensive marketing report for Montgomery NY! 

Anyone looking to purchase or sell a property in Montogomery NY should call Realtor, Janis Borgueta!

Jan 12, 2014 11:25 PM #1
Rainmaker
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Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

this is a super report to share with your local buyers and sellers in your marketplace. this looks like a great area to purchase property!

Jan 12, 2014 11:47 PM #2
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Janis, there is so much good information on the market in Montgomery. You are definitely the expert to call to buy a home. 

Jan 13, 2014 11:36 AM #3
Rainer
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Andre R. Aragon
Greater Tampa Real Estate Photographer - Tampa, FL
Real Estate Photographer

Hi Janis - Good to see things are moving in a positive direction in Montgomery. Great market report.

Jan 13, 2014 11:58 AM #4
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Janis. Buyers and seller in this market are very fortunate to have you available to represent them. Great job with the report.

Jan 13, 2014 07:27 PM #5
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Janis Borgueta

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