Kentucky

<p>The monthly data from <a href="https://www.realtytrac.com/market-trends/montgomery-al/">Montgomery</a> paints a picture of gentle variation in the housing market. We can see the average property value peaked at $189,950 in November, only to gradually taper down to $175,450 by March of the following year. This dip represents a 7.6% decline. The cost per square foot has followed a similar pattern, stepping down from $102 to $95 – a 7.4% decline, providing a complementary metric to the overarching value trend.</p>
<figure id="attachment_25489" aria-describedby="caption-attachment-25489" style="width: 1446px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="size-full wp-image-25489" src="https://nicautomation.wpengine.com/wp-content/uploads/2024/04/Montgomery-Alabama-April-2024-house-prices.png" alt="Montgomery Alabama April 2024 house prices" width="1446" height="615" /><figcaption id="caption-attachment-25489" class="wp-caption-text">Montgomery Alabama April 2024 house prices</figcaption></figure>
<p>Contrasting Montgomery’s market with its neighboring cities, we observe a starkly different behavior. For instance, the city of Hope Hull experienced a substantial surge, with average property values skyrocketing to $312,500 in one month, before correcting downwards. On a different note, Pike Road maintained a more expensive market profile throughout, with the average values consistently towering above the other cities, though they weren’t immune to fluctuations.</p>
<h3>Current Values and Volumes in Montgomery, AL</h3>
<p>As of March, Montgomery’s real estate stands at an <a href="https://www.realtytrac.com/montgomery-al/for-sale/">average value of $175,450</a>, with a price of $102 per square foot. A total of 200 properties were on the market, and the city saw a substantial number of transactions, with 1,689 properties being sold at an average sale price of $124,709. Interestingly, the average sold per square foot value stood at $76, implying that buyers may have snagged properties below the market average per square foot rate.</p>
<h3>Comparison with Nearby Cities</h3>
<p>A closer look at nearby cities provides a glimpse into regional value disparities and market volume. In Hope Hull, the average property commands a price of $250,000 and a per square foot rate of $97, yet with only one property on record, it suggests a limited market with a potential for high volatility.</p>
<p>Millbrook’s market is slightly less pricey with an average value of $209,950 at a more significant per square foot cost of $127, again offering a small inventory of 8 properties. The city notched up 111 properties sold, pointing to a vibrant sales activity despite a smaller number of listings.</p>
<p>Now, stepping into Pike Road, the top-tier pricing becomes apparent with an average value of $439,900 and an impressive $181.5 per square foot. Thirty properties were up for grabs, and with 80 sales, it indicates a healthy turnover, likely fueled by Pike Road’s desirable property attributes.</p>
<p>Lastly, Elmore’s average value stood at $169,000 with a per square foot value of $131; with only one property listed, it offers limited insights into market depth. Mathews, with an average value at a lofty $990,000 and a per square foot price of $136, displays a unique market position, perhaps indicative of luxury properties or spacious estates, yet with no sales data to delve into, it remains an enigma in the dataset.</p>
<p>The snapshot above gives us an intriguing overview of this segment of Alabama’s real estate. Each city demonstrates its market characteristics, with Montgomery maintaining a stable hub of activity, while its neighbors display varying degrees of market temperature ranging from hot surges in property values to luxurious, yet seemingly static, brackets.</p>


Market Reports

Montgomery Housing Market Sees 8% Dip in Property Values: A Comparative Analysis with Surrounding Cities

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