Strong Montclair NJ Real Estate Inventory Growth in April 2017

With competition strong, additional inventory brings relief, but is it enough?

Montclair, NJ listing inventory grew robustly in April with 95 new homes contributing to 189 active listings during the month, versus 70 new listings and 174 active listings in April 2016.

We are seeing some 10-15% premiums over ask in this range, but market-wide sale prices exceeded ask by 4%, and contract volume was 53 in April, versus 63 in March.

This all should bring some relief to buyers, but competition remains fierce in the $500k-$900k ask range and for unique properties.

May has been the most active contract month for the past 2 years, so the time to hone your strategy and get in the market is now. 

Contact me to set up a strategy to get your offer accepted on your ideal home.

Best, Rich

PS – Find more tips on getting your offer accepted here.