Montclair, NJ Real Estate Market Trends

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Montclair, NJ Real Estate Market Trends – Listing vs. Sold Prices

If you are planning to buy a home in Montclair, NJ or if selling a home in Montclair, NJ is in your future, then you might be interested to find out more regarding current Montclair, NJ Real Estate Market Trends.  First, it may be helpful if you have a clear understanding of the difference between a “listing price” and a “sold price”.  A listing price is the dollar amount a seller is asking for their home. How much a buyer is willing to pay is the sold price. Looking at the listing price vs the sold price gives us a good idea of where the real estate market is heading. The median listing and sold property prices are calculated based on the market activity each month. When we look at the chart below, we see the median list price peaked in June and February 2016. The median list price hit a peak again this month. The median listing price was at its lowest in Montclair NJ between December 2016 and January 2017. The median sold price spiked in mid-August and then began to decline. It has been on a steady increase between September 2016 and now.

Montclair, NJ Real Estate Market Trends

Montclair, NJ Real Estate Market Trends – Market Inventory Trends

As we further explore recent Montclair, NJ Real Estate Market Trends, we see the number of active listings in Montclair, NJ increased 8% from the previous month.  The median number of days active properties have been listed is 39, which is significantly shorter than the national average.

Springfield, NJ Market Inventory Trends

Springfield, NJ Market Inventory Trends

Montclair, NJ Real Estate Market Trends – Learn More!

Other important statistics to note when we look at single family homes and condos in Montclair, NJ are: The median listing price is:  $817,980, the Median Days on Market is: 30, and the number of active listings are: 109.

I hope you found this information helpful. If you have any questions, or would like a copy of our FREE town snapshots, please contact me. You can reach me by phone at 973-637-0004 or via email at Shannon@ShannonAronson.com. If you are interested in seeing any of the homes for sale in Montclair, NJ, please contact me. I’d be happy to arrange a showing for you. To learn more about Montclair, NJ, and other surrounding communities, please visit my website at www.NJRealEstateDirect.com.