Over the past three years, the Montgomery County real estate market has experienced growth at a rate we have never seen before. In 2022, more than 83% of properties sold in Montgomery County went for a price higher than the county’s current value. Most of those properties sold for a price significantly higher than the county's current value.
Home prices in Montgomery County have been off the charts, and now our property values are catching up to the robust housing market seen across the state and the country. As a result of these record-setting sales prices, property owners should expect to see record-setting property value increases with this update.
This property value update is based primarily on real estate activity from 2022, and we are not allowed to consider sales activity from 2023. But even in 2023, although the number of real estate sales has decreased slightly in Montgomery County, the prices of those sales have continued to increase.