What’s keeping Montclair’s housing market looking, well, less depreciated? It’s not homes selling in the 07043 zip code. Nope — according to this New York Times article, we can thank Montclair’s Estate section in 07042 for keeping the overall average sales values up — at least according to Ken Baris, president of Jordan Baris Realty in West Orange. Baris states 42 homes that sold in the Estate section, sold at a median price of $1.218 million. The article, which compares Montclair, Millburn and West Orange, mentions folks discouraging the use of “Upper” for 07043 as divisive (oh, not that old chestnut again). Lots of interesting zip code talk from realtors on Trulia.

Here are two relatively new listings — one in Upper Montclair, the other in Estate Section.

Both homes are listed for $879,000. The Estate section home, at 9 Locust Drive, is .52 acres with taxes of $23,653. The Upper Montclair home at 3 Wellesley Road is .26 acres and taxes of $21,738. Click on the address links — Locust Drive looks incredibly dated, while Wellesley looks freshly renovated.

How do you predict these will sell? Is Wellesley priced too low? Is Locust too high? Play realtor and tell us what you think will happen.

http://www.baristanet.com/2011/09/montclair-real-estate-07042-saves-the-day/