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