To hear Realtors tell it, this is not your typical spring market. Some homes are being reduced by $50,000 to $100,000 in Montclair after sitting for weeks; others are simply not moving due to unrealistic pricetags.
“In short, sell-through is low, meaning buyers are cautious and don’t see value and don’t want to fix/remodel anything major and many of our vintage homes need a good deal of updating, as they always have, to reflect current tastes,” said Roberta Baldwin at The New Keller Williams NJ Metro Group.
She said that–while spring historically is the season for selling–it’s also the season for holidays, making summer plans, and for performing garden maintenance.
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