The Good Life Group's Market Report
Montclair, NJ 07042
Single-Family Homes
Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158
Montclair, NJ 07042
Sat Jan 18 2025
This week the median list price for Montclair, NJ 07042 is $1,699,950 with the market action index hovering around 54. This is less than last month's market action index of 56. Inventory has decreased to 9.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.
Real-Time Market Profile
| Median List Price | $1,699,950 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $402 | |
| Average Days on Market | 88 | |
| Median Days on Market | 91 | |
| Price Decreased | 33% | |
| Price Increased | 11% | |
| Relisted | 56% | |
| Inventory | 9 | |
| Median Rent | ||
| Market Action | 54 | |
| Strong Seller's Market | ||
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $9,997,499 | 0 | 0.5 - 1 acre | 7 | 7.8 | 60 | 0 | 0 | 119 |
| $2,425,000 | 0 | - | 7 | 8.3 | 125 | 0 | 0 | 42 |
| $1,649,975 | 4,945 | 0.5 - 1 acre | 7 | 5.8 | 159 | 0 | 1 | 119 |
| $899,000 | 1,863 | 0 - 4,500 sqft | 4 | 1.5 | 125 | 0 | 0 | 91 |