Half Yearly Market Update for Montgomery, NY
What Homes are Selling in 2016?
The question about housing values seems to find its way into many conversations lately. I get asked this question by all the time, even by people that are not looking to buy or sell a home in the near future. The housing market is a constantly moving target and is an important facet in planning for future financial health.
My clients love to know what is happening in the market. This summary of Montgomery provides local information of what homes sold and at what price. More importantly, it compares 2016 year to the previous year. Trends in real estate are a good indication of what to expect next. I do wish that I had a crystal ball, but without that tool, I find that providing these reports for my clients to be the next best bit of information that can be helpful when making important financial decisions.
The information below can help guide both buyers and sellers when to enter the market. Understanding the local values to properly price a home can save you thousands of dollars.
Montgomery, NY Housing Stats – January to June 2016
- 24.69% more homes sold for the first half of 2016 from January to June, than in 2015 (101 compared to 81)
- Home Sale prices are up on average of 15.23% with the average home sale price of $196,347
- The median sale price for 2016 is up to $$185,000 from $155,950 in 2015.
- The highest price home sold in 2016 was $600,000 compared to 415,000 in 2015
- The current inventory of homes is 188 in Montgomery, NY.
- lowest priced home currently listed is $56,900
- highest price home currently listed is $1,950,000
- Average listing is $259,403
- Median listing price is $229,450
- Days on market are down from 2015 at 160 to 129 this year so far. This is a 20% reduction in time from listing a home to going under contract. The most popular price point of homes is between $150,000 and $300,000 for a single family home.
- Only two homes sold over $500,000 in the first half of 2016 in Montgomery, NY.
- 2016 saw 147 properties go under contract compared to 102 during 2015.
January-July for the years 2014-2016
The Montgomery, NY housing market is seeing some relief from the last year. Sales are up as well as prices. We are seeing more contracts being written during the last six months with 147 homes going under contract compared to 2015 with only 102.
With any set of numbers, deeper analysis is worth looking at for your specific needs and possible neighborhoods. The market changes with every sale and contract. If you are looking to buy or sell a home, let’s talk. I look forward to hearing from you soon.
Montgomery, NY Real Estate Market Report June 2016
Check out what is currently for sale in Montgomery, NY. Begin with the newest listings available.
We have a plethora of choices that are sure to please. The entire HGMLS is on this website. Be sure to check out all the homes and save your search. When you have questions, let’s talk.
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