The Montclair Real Estate Market Has Changed

Here in Essex County, NJ, the real estate market has changed. In fact, recent data from the New Jersey Multiple Listing Service (MLS) indicates existing home prices are down (?)% this year. Sellers need to understand it’s taking longer for properties to sell. What is now occurring here in Montclair has been happening around our country for the last year. With that said, Montclair luxury home sellers must accurately price their homes the moment they are listed. Otherwise, be prepared to see your Essex County home languish on the market without buyers and their precious offers!

Insiders Tips to Pricing & Marketing Your Montclair Luxury Home

Because our market has changed, price reductions are now the norm for many Montclair homes. Drive around your typical Essex County neighborhood and you’ll see sign after sign that says, “PRICE REDUCTION”! If you’re thinking about listing your Montclair home for sale, you can avoid this mistake by pricing your home accurately to begin with.

Secrets to Marketing Your Montclair Home More Effectively

• You must “Price Your Home Accurately” when you list your Montclair home for sale. Price reductions send negative messages to potential buyers and their agents that your home is overpriced and that it is undesirable. Too often local Montclair real estate agents reduce the price then launch a full-scale price reduction marketing campaign. This is a terrible mistake as it sends signals to every Montclair home buyer that your home is all but unmarketable.

• When you first list your Montclair home for sale, the Lane Team will “debut” your property on Friday. Recent research and data indicates Friday is the very best day to have your home hit the local MLS! The absolute worst days are Mondays and Thursdays.

• When pricing your Montclair home accurately, it is important the price falls within the correct pricing “categories”. Today’s Internet-based home buyers make up 75% of all home buyers and are more savvy web searchers. Typically, searches are segmented in $25K to $50K increments. If your home’s recommended home value is 8551K based on a market analysis (CMA), it is recommend you list your home at $850K so your home falls in the $825K to $850K price point.

• Before you list your Montclair home for sale, have your agent search your “hyper-local” neighborhood to determine if there are “foreclosure properties” on the market in your immediate neighborhood. If so, it is recommended you delay listing your home until that foreclosure home is off the market. Foreclosure homes are typically difficult to compete against and set a bad precedent for home values in your neighborhood.

• To attract as many potential buyers as possible to your Montclair home, we place your Essex County home on many websites, including the highly popular “Craigslist” site. It’s all about marketing your Montclair home to as many potential buyers as possible!

Complimentary Montclair, NJ Real Estate Neighborhood Sold Report

The complimentary Montclair, NJ Real Estate Neighborhood Sold Report will help you better understand today’s Montclair real estate market. Remember, it’s all about helping you determine the most accurate listing price for your Montclair luxury home, townhome or condo. Simply complete the easy to use form below and we will provide the details of the recently sold properties in your Montclair neighborhood. Our primary goal is to help you sell your Montclair property quicker and for more money while protecting your right to privacy. We will never share, sell or rent your contact information with any third party – we promise!