Under Contract
153 Morningside Rd,
Verona Twp, NJ 07044-1003

Sellers Market Continues in Montclair and Surrounding Towns

Houses selling fast and at high prices

October Montclair Real Estate sales stats were little changed from a year ago as 22 listings sold after an average 23 days on market, in each period, while price premiums crept up to 21% over ask from 19% last year and 17% last month.

Sales prices bumped up in October and, notably, median sales price exceeded average price, which is rare, and indicates consistently higher price homes in the market. The median sale price in October was $1.38 million (vs $1.28 million average), up from $1.23 million in Oct ‘24 and $926k last month.

Bidding wars have been the norm across Essex County and beyond as we have observed in our recent deals in Verona, West Orange as well as Union and Bergen County. Buyers remorse often follows a bidding war win, so it behooves the Listing agent to keep good will in the deal and among back up offerors, whom often step in if the first deal falters.

Best, Rich