The average sale prices among the 32 properties that closed in September were 96% of the original asking prices, the first time that this percentage has fallen below 100% since November 2016.
This result stemmed from a mix of properties that included some higher priced homes with weaker demand, and some lower priced homes that were distressed or in need of updating.
Inventory grew nicely in September to 158 total active Montclair, NJ listings, with 89 new listing additions, versus 71 new property listings last year, and only 20 new property listings this past August.
Buyer turnout was a bit delayed with summer-like weather, but home shoppers eventually engaged as 40 houses went under contract last month, versus 35 in September last year. October looks to be more active.
The average active listing price in Montclair, NJ remains in excess of $900k, versus the average sales price $685k among houses sold in September. The highest priced houses have experienced extended days on market.
Questions about the local market or about Montclair, NJ properties in general?
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PS – Get the best price for your home by planning ahead. Check out
The Stanton Company Home Sellers’ Countdown Calendar for details.