Although Montgomery, IL had lower single detached family sales in September, 2017 vs. September, 2016 (43 vs. 48) when it came to price appreciation it had a 10.5% increase from September 2016’s $201,000 to September, 2017’s $222,000 median price increase.
Days on market dropped from September, 2016’s 50 days to 47 on September, 2017! Months of inventory stayed the same at 2.2 months of inventory.
This news is great for sellers but some buyers will be priced out of the market as prices continue to go up! If you are in the market for a new home the sooner you buy the sooner you can take advantage of increased price appreciation and start building up equity.
As we enter the 4th quarter of the year, sellers are more motivated and there are fewer buyers to compete with. Hopefully, interest rates will stay steady or even take a small dip to allow buyers to take advantage of slower home sales.
Wondering how you can become a homeowner? Give Heart Realty a call today!!