$3,551 Closing Credit*
$299,000
1 Bed
•1 Full Bath
Laurena White, Listing Office: Prominent Properties Sotheby's International Realty-Montclair
Is Montclair Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Montclair Township was a Buyer's Market.
Key Takeaway
Montclair Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Montclair Township, NJ
How much do homes in Montclair Township, NJ cost?
Median Sold Price
$1,271,250
$348/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$155,250(+13.9%)
Key Takeaway
Homes in Montclair Township have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Montclair Township was $1,271,250 in October 2024, up 13.9% from last year, and the median price per square foot was $348.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $281.5K | $316K | +12.3% |
| 2 Bedrooms | $442K | $500K | +13.1% |
| 3 Bedrooms | $685K | $799K | +16.6% |
| 4 Bedrooms | $1.0M | $1.2M | +14.8% |
| 5+ Bedrooms | $1.6M | $1.5M | -1.3% |
Summary: Montclair Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 1.3%.
Median Sold Price Compared To Nearby Cities
| Glen Ridge | $840K | $1.0M | +25.0% |
| Bloomfield Township | $496K | $578.3K | +16.6% |
| Verona | $605K | $699K | +15.5% |
| Montclair | $1.1M | $1.2M | +15.1% |
| Montclair Township | $1.1M | $1.2M | +13.9% |
Housing Supply in Montclair Township, NJ
How many homes are available in Montclair Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 125 | +17.9% |
Summary: The Montclair Township real estate market had 125 homes for sale in October 2024, a 17.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 10 | 15 | +50.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 55 | 65 | +18.2% |
Summary: The Montclair Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montclair Township, you could pay more than the asking price. 84.2% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Montclair Township in October 2024, up by 5.6% month-over-month. Of the 19 sold homes, 11% were sold under asking, 5% were sold at asking, and 84% were sold over asking.
Days on Market for Montclair Township, NJ
We’re sorry, we don't have information for this market at the moment
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