Montgomery homes sales had a great March! With a 29% jump in home sales from 2018's 31 closed transactions to a total of 40 it did much better than some neighboring towns. Unfortunately, there was a jump of 84.4% in the days on market (DOM) that seller's were probably not too happy about! Luckily the increase in the median sales price did increase from 2018's $192K to the current median price of $223,500 which is a 16.4% increase from 2018.
Montgomery, IL still is more affordable than other small towns nearby and it shows with its increased sales. Despite taking longer to sell, price affordability for many buyers is becoming a bigger issue. The downtick in interest rates at the beginning of the year definitely has helped all sales but with median sales price in Oswego of $284,000 or Yorkville's $262,000 or even Plainfield's $294,750, Montgomery is definitely a winner for first time home buyers on a tight budget!
If you are a buyer or seller in Montgomery, feel free to contact me and let's talk about your options today!