Montclair’s housing market may be showing signs of easing, but competition remains fierce.
According to Compass’ May 2026 market report, the number of active single-family home listings in Montclair jumped 44 percent compared to May of last year, rising from 32 homes to 46. At the same time, signed contracts fell nearly 25 percent and completed sales dropped 18 percent.
Home prices have also moderated. The median sale price for a single-family home in May was $1.525 million, down 15 percent from May 2025. Sales volume declined nearly 29 percent year-over-year.
But don’t mistake that for a buyer’s market.
Homes that are selling are moving quickly and attracting aggressive bidding. The average single-family home sold in just 16 days, down from 21 days a year ago. Most notably, buyers paid an average of 134 percent of asking price in May, up from 123 percent last year.
The data suggests a market that remains highly competitive despite higher inventory levels and somewhat softer pricing. Buyers appear to have more choices than they did a year ago, but desirable homes continue to spark bidding wars.
The condo and townhouse market tells a different story. While active listings nearly tripled compared to last year, properties took significantly longer to sell and sold much closer to asking price. The average condo spent 36 days on the market, compared with just 13 days in May 2025, while the average sale closed at roughly 107 percent of asking price.
For prospective buyers hoping Montclair’s market would cool substantially in 2026, the latest numbers offer mixed news: there are more homes to choose from, but competition for the most sought-after properties remains intense.
