Housing Market Getting Hot? Mutiple Offers and Packed Open Houses in Montclair, Maplewood

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88 Upper Mountain Ave. Montclair, listed at $3,150,000
88 Upper Mountain Ave. Montclair, listed at $3,150,000

Maybe it’s the Brooklyn Triangle, but locally, the housing market is showing strong signs of life.

“Residential market is entering a manic phase,” says Roberta Baldwin, Keller Wiliams Realty, NJ Metro Group. “Multiple offers rampant and not just 1 or two, in Montclair. Huge turnouts at open houses.”

open house cancelledLast month, Caroline Gosselin, realtor, The Gosselin Group, covering Maplewood, South Orange, Millburn area, had to cancel two open houses in the span of two weeks due to sellers receiving an offer they couldn’t refuse.

“First-time buyers and people that are selling city apartments continue to make up the heart of the market,” says Richard Stanton, Stanton Company. “The $550,000 to $750,000 range seems to be the sweet spot and we could use some more listings as many homes are seeing multiple offers and there is a pool of eager buyers out there. We have been getting frantic calls from agents saying their customers are flying in to see a home or taking a car service out after work to view a home ahead of an offer deadline.”

Is this another sign of growing housing market optimism in Montclair? New to the market is 88 Upper Mountain Avenue, a 1946 French Normandy manse (taxes $54,975) listed for $3,150,000. The highest sale last year in Montclair was $1,999,999. There’s also the recent sale of a three-bedroom townhouse at 21 North Mountain Ave in Montclair. Listed at $949,000, it sold for $960,000.

Are you in the market to sell or buy?

23 COMMENTS

  1. This happens every spring. Families want to move before the school year (buy in spring, close and move in summer). Sales start going down again as summer approaches.

  2. To paraphrase Mark Twain, “The reports of Montclair’s death ( allegedly due to high taxes, left wing voting and spending preferences, etc ) are greatly exaggerated”. Clearly, it’s still quite popular and vital.

  3. According to Zillow.com, the value of most of the houses in my nabe have gone up between $2,000 and $3,000 in the past few months. While I’m not ready to break out the champagne and do the Happy Dance, it’s nice to read some good news for a change. It’s nice to see a + sign next to the estimated prices again.

  4. “There’s also the recent sale of a three-bedroom townhouse at 21 North Mountain Ave in Montclair. Listed at $949,000, it sold for $960,000.”

    Frank GG, correct me if I am wrong (it won’t cause any stress), but I believe that (those) townhouses were built in 2009 right near where you lived on North Mountain. I also recall that the teardown of the exisitng house on that lot caused many Baristanet practitioners much grief and engendered a number of “The Sky is Falling!”-type comments.

  5. As I’ve always said to people here who have complained to the township that they’re going to move out because of high taxes, ultimately no one cares if they do. It just makes room for people coming in who CAN afford the taxes and there seems to be plenty who can.

    For better or worse . . .it’s what it is.

  6. I’ve since moved from North Mountain….and I think that those townhouses dont look as nice as the house was torn down.I really think that they look ugly. My mother has moved from South Mountain because they built townhouses next to her. These townhouses just seem to cheapen the neighborhood and I wish that they would knock it off with this kind of development.

  7. Frank, thanks for the update — I remember your moving from North Mountain (one of the better garage sales in Baristaville, as I recall!). It does seem strange, I guess, to put up a very different building (architecturally and structurally) where it doesn’t conform with its neighbors. Many towns (and I am channeling my New England history, here) don’t even allow that via zoning regulations — so it becomes a matter of preserving or recreating the past versus moving on to the present and the future. Not taking sides, but I am sure it would be completely cost-prohibitive to build new housing in Montclair that looks like the old housing in Montclair.

  8. It’s a long standing Montclair tradition for new houses to look different from old ones…. No doubt there was great outrage when the larger lots were subdivided in the 1920’s and developers started building all those Dutch Colonials in between the Victorians.

  9. Liz — thanks for the blast to the past; damn, that was seven years ago and there was RoC, Cathar, Iceman, Martta (still Miss Martta, then), and Roo, that old loveable quipping marsupial, commenting away like it was only yesterday! Within four of five posts the thread was hijacked into Trolls vs. Liberals, repubs vs. dems, and then back again. Lots of sound, a little fury, and no decisions. Plus ça change, plus c’est la même chose!

    P.S. Looks like toward the end that thread got hijacked again by folks who were putting in very offensive comments and links to porn.

  10. Conan, cute house! Well there are still a few affordable small homes/townhomes in Carpinteria and Summerland right next door. I’ll be the taxes on an $8mm home there are probably close to what you’d pay here for something much more modest.

  11. Both homes are nice but it’s true what Conan says about beach front property perched on a hill. The beams that hold many of these homes up have to be inspected regularly for rot.

  12. Great news! I’ll be able to sell in a few years and head to a warmer climate!

    Right behind you, JG!

    Don’t let the door hit you in the a$$ on the way out.

  13. Dearest ‘Roo, don’t feel bad that some of our friends are planning to abandon us. You can come live under my porch – it’s a nice roomy one, too – and I promise I won’t gouge you on rent. You can even use the back yard for hopping around (but don’t eat my plants).

    You see, I will need a boarder in a couple of years, after I lose the child tax credit and I get hit with the next property tax increase.

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