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4 Marquette Road, Montclair, NJ

Buyer Traffic Slows,
Prices Remain High
Plus: New Record Sale Price

Figure 01

The volume of homes on the market continues to track last year very closely (fig.1) and remains inadequate to meet demand. As a result, multiple offers on homes continues to be the norm and price premiums remain high at an average 21% over ask . That being said, we are seeing fewer offers on homes than we have in the past 2 years. You might get 3 to4 offers on a home that would have gotten 7-10 offers in recent years. If you look at figure 2 below, you will see that most common premiums were in the 5-10% range, with a few notable outliers above 60%. This is due to lower buyer traffic and managed expectations on ultimate sale price.

Figure 02

The average price of $1.61 million among 45 closings in July was consistent with $1.66 million among 44 closings in July 2025, however, the average price pulled away from median price as we had a $4 million and $8 million dollar sale in July (fig 3). The $8 million dollar sale represents a new price record for Montclair, by far, with the next 2 closet sales both at $5 million. (I’m not including our 2023 sale of 349 Crestmont Rd . for $9.5 million as it was only partially in Montclair) The median price this past month was a good bit lower at $1.38 million.

Figure 03

Reach out to me with questions about the local or regional market, investment possibilities, or your home in particular. 

I always welcome comments and questions.

We are here to help. 

Best, Rich

Richard Stanton
Principal Broker
3rd Generation Owner
(917) 536-8257