No not Francis “Psycho” Soyer’s list…
but you were named by Forbes.com as one of the “Top 10 Best Suburbs to Sell a Home“. For many who live in the “urban ‘burbs” we know that Montclair offers amenities that are second to none. Couple that with access to New York City via Midtown Direct service on NJ Transit or on the DeCamp Bus and Montclair provides prospective home buyers an ideal environment have the best of both worlds with the ability to work in the city and live in the ‘burbs. Before you start imagining the that we are returning to the go-go market of 2005 & 2006 let look at some quotes from the article.
“If you have to sell a house, sell in these places,” says Michael Simonsen, chief executive of Altos Research. “But it’s a measure of how rough is it out there for sellers. These are the best markets, and we’re looking at three to four months of time to sell in the country’s best markets.”
27% of sellers in Montclair, N.J., have dropped their prices in the last 90 days. The median home price there is $671,954, and properties stay on the market 115 days. While this is good news for local homeowners, these are hardly sellers markets.
Yes things are still selling here in Montclair, including some properties with multiple offers and despite what the media is reporting buyers still can get mortgages. That said if you are planning on selling you home in Montclair this is not the time to “test the market”. Now more than every it is essential make sure that the holy trinity of the “3 P’s” (price, presentation and packaging) are nail down correctly.
We encourage you to click over to the Market Statistics page to see the same live data from Altos Research that Forbes relies on when researching the real estate market. Having met Mike and some of the Altos team this summer and Inman Connect it was clear that this was a product that would be invaluable to home buyers and sellers here in Montclair and the surrounding areas and we are proud to offer it to you. Leave a comment as we would love to hear your feedback.
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