Is Montclair, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Montclair was a Seller's Market.
Key Takeaway
Montclair is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Montclair, NJ
How much do homes in Montclair, NJ cost?
Median Sold Price
$1,200,666
$483/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montclair have sold for 21.7% more than they did a year ago.
Summary: The median home sold price in Montclair was $1,200,666 in April 2024, up 21.7% from last year, and the median price per square foot was $483.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $285K | +3.6% |
| 2 Bedrooms | $422.5K | $450K | +6.5% |
| 3 Bedrooms | $697.5K | $725K | +3.9% |
| 4 Bedrooms | $975K | $1.1M | +20.5% |
| 5+ Bedrooms | $1.5M | $1.5M | +4.0% |
Summary: Montclair housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Cities
| Montclair | $986.7K | $1.2M | +21.7% |
| Montclair Township | $989.5K | $1.2M | +21.4% |
| Bloomfield Township | $470.5K | $534K | +13.5% |
| Glen Ridge | $884K | $982.9K | +11.2% |
| Verona | $595K | $658K | +10.6% |
Housing Supply in Montclair, NJ
How many homes are available in Montclair, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 79 | 122 | +54.4% |
Summary: The Montclair real estate market had 122 homes for sale in April 2024, a 54.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 24 | 26 | +8.3% |
| 5+ Bedrooms | 41 | 76 | +85.4% |
Summary: The Montclair housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 85.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montclair, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Montclair in April 2024, up by 25.0% month-over-month. Of the 15 sold homes, 7% were sold under asking, 13% were sold at asking, and 80% were sold over asking.
Days on Market for Montclair, NJ
We’re sorry, we don't have information for this market at the moment
