Is Montgomery Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Montgomery Township has remained a Seller's Market.
Housing Prices in Montgomery Township, PA
How much do homes in Montgomery Township, PA cost?
Median Sold Price
$499,450
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Montgomery Township was $499,450 in May 2024, up 5% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $307.5K | $307.6K | 0.1% |
3 Bedrooms | $420K | $475K | +13.1% |
4 Bedrooms | $647K | $675K | +4.3% |
5+ Bedrooms | $585.5K | $665.2K | +13.6% |
Summary: Montgomery Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
Montgomery Township | $475.7K | $499.4K | +5.0% |
Lansdale | $407.9K | $425.2K | +4.2% |
Colmar | $495.5K | $515K | +3.9% |
Hatfield Township | $468.5K | $460K | -1.8% |
Housing Supply in Montgomery Township, PA
How many homes are available in Montgomery Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
57 | 57 | 0.0% |
Summary: The Montgomery Township real estate market had 57 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 7 | -46.2% |
3 Bedrooms | 20 | 24 | +20.0% |
4 Bedrooms | 18 | 22 | +22.2% |
5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Montgomery Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 46.2%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Montgomery Township in May 2024, down by 6.7% month-over-month. Of the 14 sold homes, 14% were sold under asking, 7% were sold at asking, and 79% were sold over asking.
Days on Market for Montgomery Township, PA
How long does it take to sell a home in Montgomery Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 5 Days | -40.5% |
Summary: Homes in Montgomery Township had an average of 5 days on market in May 2024, down by 40.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Montgomery Township; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.