MONTGOMERY TOWNSHIP

MARKET REPORT
December 2020

Montgomery Township NJ home market trends show an increase of a total of $30 (15%) in the average price per square foot over the past 6 months. The average sales price over that same period rose from $535,189 to $609,987,, while the median rent for this area is $2118. These stats are relevant for homes for sale in Skillman New Jersey, Belle Mead New Jersey and Rocky Hill New Jersey. 

 

The average time on market for properties in Montgomery Township New Jersey is 65 days and buyers can expect to pay 98% of the seller’s asking price. (All of this is represented in detail with the help of graphs below.)

 

Here is the December 2020 Montgomery Township NJ market report. WolfPack Homes believes in transparency and providing our clients/customers the true statistics.

Please note that all these graphs are informative, you can scroll over each one of them and read carefully.

• Sales

Average sales price in December 2020 was $609,987, it was down from $717,605 in November and up from $535,189 in January of 2020. Each year prices fluctuate and buyers must keep an eye on the market trends to know which time can be most beneficial for purchase.

• Market Time

Average days on market for the Montgomery Township neighborhood in December was 60, down from 65 in November.

• Market Hotness

 

• Number of Homes Sold

 

Homes for sale in Montgomery Township NJ held steady through the first quarter before steadily climbing starting in April and then spiking in June with the highest number of homes sold in July, the number of homes sold began to drop through the third quarter of the year until November ending 2020 with a slight trend up in December. This graph only demonstrates the number of homes sold in Montgomery Township NJ.

 

The statistics show the ups and downs of home for sale in Montgomery Township NJ. It is important for sellers and buyers to watch these trends in the real estate market. With the new year, we will keep you informed of the market stats.

• Median Sale Price

As you can see in the above graph, the median sales price in December was $609,987 down from $717,605 in November, and down from $535,189 in January of 2020. October 2020 closed the year with the highest median sale price. Sales are forecasted to increase again as the spring season begins.

• Average Price Per Square Foot



As visible from the above graph, in the month of April 2020, the average price per square foot was the highest, almost reaching $245 per sqft at its highest. After a dip in May 2020, it steadily increased until November 2020, before a spike up in December 2020.

 

• Conclusion

Keep checking these market stats; we will provide them each month. If you would like to discuss the Montgomery Township NJ housing market and how these trends affect selling your home, please call Nicole Wolf Realtor at The WolfPack Homes Team of Berkshire Hathaway Fox & Roach to discuss an optimum sales strategy at 609-610-5789. Looking for the top Realtor in Montgomery Township NJ? We have the #1 market share in the local Montgomery Township NJ NJ area! Whether you are looking to buy or sell a home in Lawrenceville, Princeton, Montgomery Township, Hopewell, Princeton Junction etc. you can count on us to represent you the best.