Welcome to our January Montclair Real Estate Market Recap.
47 new listings came on last month versus 29 in January 2016.
Buyers were active as 25 houses went under contract in January, versus 15 last year. Month-end inventory of homes was flat at 113, vs 116 a month prior and 113 a year prior.
However, we should see growth in home listings in February as we head into Spring.
The prospect of further rate increases has motivated some buyers and there are has been some, albeit selective, activity at the upper end of the market. We saw a median sale price of $823k among 22 closings in January, versus a more typical $656k last month.
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