Montgomery County Market Report: Shifts This September

September Real Estate Market Update: Montgomery County, PA

The Montgomery County real estate market has experienced some shifts recently. Whether you're buying or selling, staying informed is essential. While inventory is rising, fewer homes are going under contract, signaling a subtle market shift.

More Homes, Fewer Contracts

Inventory is increasing, giving buyers more options. Currently, 886 homes are listed for sale, with an average price of $499,900. Homes are staying on the market for an average of 27 days. However, fewer homes are going under contract—just 522 in September, down from 581 in August—indicating a cooling trend.

Home Prices & Days on Market

The median price for homes under contract last month was $450,000, with an average of 10 days on the market. Price reductions are becoming more common, especially for homes listed for 20-30 days, with cuts ranging from $40,000 to $50,000. Buyers, keep an eye out for potential deals!

Settlements Comparison

September saw 663 homes settled, with a median sold price of $431,000 and an average of 9 days on the market. In contrast, August was unusually busy with 840 settlements and a median price of $450,000.

Still a Seller’s Market (For Now)

Despite the cooling trend, Montgomery County remains a seller’s market, with less than two months of inventory. However, the gap between active listings and contracts could signal a shift toward buyers if it continues.

Conclusion

More homes are available, but fewer are selling quickly. While it's still a seller’s market, buyers could start finding deals as prices adjust. Stay tuned for updates!