Available Now
12 Kips Ridge
Montclair NJ, 07042

High Prices, Low Inventory Continue for Montclair Real Estate

Time to Get Prepared! Buyers too! There are opportunities to take advantage of!

Spring inventory as measured by new listings, was, overall, better in 2025 than the prior 2 years, but lost some momentum in July as 30 new listings lagged behind 32 in 2024.

The Dog Days of summer (named for the prominence of Canis Major, the Dog Star) typically mark a lull in inventory and I don’t expect this year to be different, though buyers remain on the hunt for opportunities.

Prices among 44 closings in July matched historical highs with an average price of $1.6 million and median price of $1.5 million.

Driving this were 10 sales between $2-3 million and 3 sales over $3 million in July (the State of NJ picking up some nice revenue with the increased Supplemental Realty Transfer Fee – details here).

Other market metrics continue to indicate a Seller’s Market: average days on market of 17 was below 21 days in the trailing 12 months, and price premiums of 19%, while down from 23% trailing 12 months, is still very high.

Sellers

• Now is the time to prep for Fall listings or next Spring, depending on your timetable.

This Seller’s Calendar can be a guide to help you strategize.

Buyers

• Stay vigilant for opportunities, particularly estate sales or distressed situations that can hit the market in August. You can act while competing buyers are on vacation.

Have a question about selling or buying in the surrounding towns and beyond?
Feel free to reach out, we are here to help.

Best, Rich