Good weather, a late Thanksgiving, and limited travel plans led to more listings and sales than usual. Buying and selling real estate in the Montclair area typically slows markedly in November, but not this year. We have observed a flattening of seasonal peaks in the industry this year and expect that there is a market with potential activity every month during the year, not just in the traditional Spring and Fall seasons.
Case in point, buyers were still out in the market into the holidays and weekends were marked by a lot of cars with NY plates traveling from open house to open house or just scoping out prospective Montclair neighborhoods.
Price increases in general and more activity among larger homes drove the median sale price in November to $888k from $650k last year. Just throwing a big house out on the market doesn’t guarantee success though. The upper end of the Montclair market (1.8 million +) is still a rarefied buyer group, but we have been active with “luxury segment” buyers and sellers over the past year so look for an analysis of this market from us in the coming weeks.
We expect December to be a quieter month, but a few listings came on this week in that sweet spot of $700k – $1 million and buyers were lined up up to see them as soon as first showings started.
The market should pick right back up at the start of the new year with the Spring market shifting much earlier than usual.
Contact me today for ideas and tips on how you can make the most of this environment to get what you want.
3rd Generation Owner