Montgomery Real Estate Market Overview
Average Monthly Rent:
$897
Percentage Change in Home Price/Value:
1.8%
Median Home Value:
$91,810
Best Time To Sell Home:
August
Affordability Index:
High
Days To Sell House:
64
Job Market:
Weak
Public School Ranking:
41
Selling a House in Montgomery, AL
The median home value in Montgomery is around $91,000. If you’re looking to sell for the highest price in the state of Alabama, aim for the month of May. Homes sell for almost 15,000 more during this time of year. If you find yourself needing a more time-efficient sale, we suggest selling in August. While many factors influence the timing of home sales, it typically takes an average of 97 days to close on a home in Alabama. If you’re looking for something more time-efficient, consider using an iBuyer. iBuyers will work within your desired time-frame, and don’t require agents, showings, or price negotiations.
Location & Weather
Montgomery resides in Montgomery County, on the Alabama River. It’s near the coastal side of the Gulf of Mexico, and has the second largest population in the state. Montgomery is described as a pleasant environment for its residents. It’s a family-friendly city, that has a strong historic culture. Amongst the many sights and landmarks that reside here, some popular ones include Legacy Museum, Rosa Park Library Museum, or the Civil Rights Memorial Center. For those interested in something more social, there are also many concerts, shows, and boat tours this city offers as well. If you’re just visiting Montgomery for the first time, stop by Barefoot Belle for a drink, or the Eastbrook Flea Market & Antique Mall to find some treasures.
Montgomery is partly cloudy year round, with long summers and short winters. During the summer, temperatures are in the high 90’s and low 60’s. In winter, highs are in the 60’s and lows are in the 30’s.
Population, Job Market & Cost of Living
The population in Montgomery is around 200,000 people, with a declining growth rate of .47%. On the other hand, job growth has increased by 1.1% in the last year. In ten years, it’s predicted to have increased by 30.3%. Several major industries here are in government, public school systems, hospitals, automobile manufacturing, and insurance services. Considerable companies to work for in Montgomery include Civil Air Patrol, Raycom Media, CNHI, Bell Media and the State of Alabama. The cost of living in Montgomery is less than the national average, with housing being the biggest contributor to its cost.
If you have your sights set on Alabama, but aren’t sure which city will best suit you, consider looking into the area of Montgomery.
