For Sale – 172 Lloyd Road, Montclair, New Jersey 07042

Home Buyers Kept Pace in November

Shrewd Home Sellers Prepping Now

Last month’s market was marked by continued buyer activity and low inventory. There were 22 new listings, 5 of which have accepted offers.

Total units active in November was a scant 104, down from 139 last year and 158 last month as sales and withdrawals contributed to the decline.

Reflecting continued robust buying activity through the fall, 36 homes closed in November with average sales prices exceeding ask by 5%.

Between higher and lower priced homes, higher priced homes typically spend more time on market. This season bucked the trend with several high-end properties somewhat expeditiously going under contract, including three properties all priced at $2.5+ million, each with a hefty tax bill.

Given the late market activity that we witnessed earlier this season, which did not get going until October, one may expect that the upcoming Spring market would get off to an early start, maybe as early as January.

In an active market –

“Buyers stay late and show up early.”

Are you thinking of possibly selling, or know someone who is?

With these prevailing market trends, my team and I are meeting now with local individuals who want to sell in 2018.

Given the time that proper planning and preparation require, now is the best time to get started, before the new year.

Questions on what you should be doing now?

Contact me, I’m happy to discuss.

Best, Rich