June 2018 Montclair, NJ Area Real Estate Market

June brought some very good news for patient buyers with a large addition of new homes for sale.

82 new listings came on the market last month, versus 64 new to market in June last year.

The amount of this year’s new listings at 412 has almost caught up to 430 last year, despite the limited number of properties available earlier in the season.

The 82 new additions in June brought the total of active listings to 213, which is right on par with 212 in June 2017.

June closings told the tale of a competitive Spring market and bids above asking prices for homes in the $500K-$900K price range.

June closings were down to 55 from 77 last year, but sellers still found reasons to be happy. The average sale price of closed listings exceeded asking price by an unprecedented 11%!

Additionally, certain properties are moving very fast now. In fact, average days on market fell to 22 from 26 last year, and 51 in May.

There are still a lot of opportunities over this summer for buyers and sellers, particularly sellers who are ready to list before August and buyers who are looking for grander homes in the $1.2M+ price range.

Questions about your best options?

Contact me directly for more information.

Best, Rich
(917) 536-8257

PS – Check my previous article for information about May 2018 Montclair NJ Area Real Estate Market results.

PPS – You may have missed it, but we moved!