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How the Real Estate Market is Trending in Montclair, CO


September 14, 2016

It’s hard to imagine that Montclair was once considered one of the original suburbs of Denver. But as the city of Denver and its surrounding communities expanded outward over time, the historic district of Montclair now feels like an urban neighborhood, just minutes from the center of the action in downtown and the shopping and dining in nearby Cherry Creek and Stapleton. With its proximity to all that the city has to offer, along with its own local businesses and restaurants, Montclair attracts new residents while retaining its existing ones.

If you’ve been following Montclair’s market trends and are considering purchasing or selling real estate, here’s a chance to know the neighborhood a little better.

Market trends help you understand the movement of key price indicators. Trends in Montclair show a 7% year-over-year rise in median sales price and a 4% rise in median rent per month. Montclair market trends indicate an increase of $97,500 (27%) in median home sales over the past year. The average price per square foot for this same period fell to $337, down from $349.’

Median Sales Price
In Q1 of 2016 for home sales in the Denver neighborhood Montclair, there were 34 total sold listings. The average price of these sold homes was $508,260, a $58,627 increase from Q4 in 2015. The average asking price was $513,175 of sold listings, down from last quarter's $579,763, and with an average discount of -0.70%.

Average price per square foot for Montclair was $337, a decrease of -3% compared to the same period last year.
Montclair had 12 active listings, as it did in Q4 of 2015. The average price of these active listings is $892,895. Just as with the last quarter, the average time the listings were on the market was 40 days. In addition to the 12 active listings, there were 22 listings under contract in Montclair.

Median Rent

The median rent per month for apartments in Montclair for Jun 28 to Jul 28 was $2,150. Just over 77 percent of the units in Montclair have a mortgage. The majority of owner-occupied houses or condos in Montclair are detached with 9 rooms or more and with bedrooms numbering between 2 to 3, while the majority of renter-occupied apartments are attached with an average of 3 rooms and with bedrooms numbering between1 to 2. Owner-occupied homes or condos have 1.8 cars or vehicles while renter-occupied apartments have 1.1 cars or vehicles.

Crime
Montclair has very low crime relative to the rest of Denver County. Knowing more about crime activity in Montclair can help keep you aware of crime in the area. Crime activity is most helpful when comparing two locations to understand the relative safety of each location.

Schools
Glenfield, Hillside and Montclair High School named Model Schools for the Arts by the New Jersey Arts Education Partnership. An award-winning magnet system with elementary and middle schools identified by the themes global studies, science & technology, creating connections, Montessori, university, STEM, environmental science, and gifted & talented.  Sixty percent of the district’s instructional staff hold advanced degrees in teaching and/or their subject area.

Commute
Most people in Montclair commute by car. Learn how neighbors in this area get to work so you can consider how you might commute if you lived here, too.

Montclair buildings are a catalog of architectural styles from 1885 to the present. If a person is interested in what the American suburban dream might look like if ever brought to fruition, Montclair is its living model.

There are many homes for sale in Aurora. If you are considering relocation to an area where you will have balance and a great living experience, then Observatory Park is a viable option. Contact Elevation Realty to discuss your real estate needs. You can also call 303-579-3566.
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