Montclair seems to be defying both state and national drops in home prices.
According to first quarter stats from city-data.com. The Bloomfield chart is more typical of the NJ market. The lower number of sales for each suggest incomplete numbers. It would only take a few Mega-mansions in Montclair to skew the stats.(Click on graphic to enlarge)
Not really. The data says "Bottom Drops out of Montclair Housing Market" According to that graph, instead of the usual hundred houses sold, there were maybe ten or fifteen sold. That is the real story here, a complete collapse of the market. With that few houses sold, the potential for some high end homes to skew the average is greater.
ReplyDelete