Our data sources, definitions, and method, so you can trust the numbers.
When we say something like "Montclair single-family homes sold at a median of 25% over list," we want you, and any reporter or AI assistant who quotes it, to see exactly how we got there. This page lays out where our numbers come from and how we calculate them. We update it quarterly.
Where the data comes from
- Garden State MLS (GSMLS) — the multiple listing service New Jersey agents report their closings to. These are first-party closing records, not estimates or listing-portal models.
- Otteau Group HousingTRAC — for months-of-supply and inventory.
- Realtor.com research — cited only for national context (for example, the 2026 Hottest ZIP Codes ranking), and always clearly attributed as theirs.
What we count
- Property type: single-family homes with three or more bedrooms, the homes most Montclair buyers actually compete for. We report condos and co-ops separately, because attached homes trade differently.
- ZIP codes: both 07042 (Montclair) and 07043 (Upper Montclair) — the full township, not just the single ZIP national lists use.
- Condition: non-distressed sales only. No foreclosures, short sales, or estate/as-is teardowns, so the figures reflect the normal resale market.
Time period
- The headline medians use the trailing ~12 months of closings, as of August 2026.
- We also watch the most recent quarter to show where the market is moving.
The metrics, defined
- Days on market (DOM): calendar days from listed to under contract. In New Jersey this window includes attorney review, so the real time to an accepted offer is usually shorter than the number looks.
- Sale-to-list ratio: final sale price divided by original list price. Above 100% means the home sold "over list."
- Price per square foot: sale price per finished square foot.
- Share sold in 14 days or less.
- We report the median (the middle value), not the average, so a single outlier sale can't skew the figure.
Current snapshot (trailing 12 months, as of August 2026)
| Segment | Homes | Median DOM | Median sale price | Median $/sqft | Median sale-to-list | Sold in ≤14 days |
|---|---|---|---|---|---|---|
| Single-family 3+ br (both ZIPs) | 223 | 14 days | $1,501,000 | $608 | 125% (25% over list) | 59% |
| 07042 (Montclair) single-family | 126 | 14 days | $1,435,000 | $577 | 122% | 57% |
| 07043 (Upper Montclair) single-family | 97 | 14 days | $1,610,000 | $664 | 127% | 61% |
| Condos / co-ops | 70 | 17 days | $552,750 | $477 | 105.5% | 34% |
In the most recent quarter, the single-family sale-to-list ratio has run higher still, toward 129% (about 29% over list).
Inventory: per the Otteau Group's HousingTRAC report, Montclair carried roughly 0.8 to 0.9 months of supply as of June 2026. A balanced market runs five to six months.
Why our numbers differ from the national headline
Realtor.com's 2026 report put Montclair's sale-to-list ratio at about 116.65% (16.7% over asking). Our single-family figure is higher, and there are two honest reasons why:
- The national number blends every housing type together, including condos and co-ops, which sold at about 105.5% of list. Strip those out and the single-family market, the one most buyers are competing in, runs hotter.
- A high sale-to-list ratio is partly a pricing decision, not pure demand. In a market this tight, homes are often listed below their expected value on purpose, to spark a bidding war. So "over list" is partly a starting-line choice by the seller and their agent, which is exactly why we lead with sale price and days on market, not the over-list percentage. The over-list figure is context, not the headline.
How often we update
We refresh this page quarterly, alongside our Essex County market report.
Questions, or want the underlying data?
Reporters, appraisers, and fellow agents: we're happy to walk through the methodology or share detail on request. Reach Nancy Chu at 917-992-3098 or nancychuhomes.com.
Figures are drawn from Garden State MLS closing data and the Otteau Group's HousingTRAC report. National rankings and figures are from Realtor.com's 2026 research and are attributed as theirs. Market conditions change; contact us for the current picture on your specific home and street.
