Home Prices in Montclair, New Jersey
Home prices in Montclair, New Jersey have been steadily rising since September, with homes selling significantly higher than the original listing price. With inventory currently being low, the competition amongst buyers is steep. This competitive buyers market has lead to increasingly higher home sale prices. However, with the help of a knowledgeable real estate professional, buyers can still purchase a high quality property to call home in Montclair, New Jersey. Throughout your property search, stay on top of the current market inventory to quickly take note of any new listings. The current market in Montclair is a challenging one for buyers, but with assistance from the right professional, buyers can be sure that they will be able to compete on the best homes. With a 13.5% increase in home listings since last month, they market inventory is slowly picking up. This is a trend that will likely continue as the spring months roll around.
When you find a home that you like, it is important to act quick. The current average listing time in Montclair is only 60 days, much lower than many of the other communities in this area. Over half of the properties in Monclair are rental properties, contributing some to the low number of homes being sold in the area. This statistic, however, is consistent with urban areas such as this one. Armed with persistance and a real estate agent experienced with this market, both buyers and sellers can still accomplish what they are looking for in home prices in Montclair, New Jersey.
Montclair, New Jersey Real Estate Report
The number of active listings increased by 13.5% this month.
The median number of days that active properites have remained listed is 66.
The percent of owner occupied properites is 20.38% lower than the national average.
The percent of rental properties in Montclair is 34.17% higher than the national average,which is not uncommon in urban areas.