Happy Holidays from the Stanton Company Family!
As the Montclair real estate market enters the holiday doldrums (compounded by an early snow), buyers remain watchful to find the right home to hit the market.
Low inventory remains the principal theme, which is good news for sellers who may need to list their Montclair homes in the off season.
There were only 109 active listings in November, versus 144 last year. This level was down from 135 last month, as just 27 new listings came on the local real estate market while 31 houses went under contract.
Closed sales in November fell to 31 from 46 last year, but prices were a healthy 3% above ask, in line with the 12 month average.
The median sale price was $650k, versus $760k among those on the market, indicating a continuation of a longer sales cycle in the higher price range.
One of our listings came on mid-month in November, at a little over $1.2 million (a price range that can be hit or miss), and it garnered good interest and got an offer within a week.
Although we expect the Montclair real estate market to slow further in the next month, buyers are waiting in the wings to find the right house.
Want smart strategies to consider for outside the traditional real estate season?
Call me for tips and ideas you can use.
PS – Get the best price for your home by planning ahead. Check out
The Stanton Company Home Sellers’ Countdown Calendar for details.