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.”
Last 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.
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