Inventories increased significantly in both Hoboken and downtown Jersey City last month and was coupled with a 20.53% and 1.56% increase in pending sales, respectively.
One bedroom per square foot prices were down for February, but the spike from last month was cause by a 1BR sale at The W for over $900/sq. ft. Two and three bedroom condos posted solid 10% and 14.82% increases, respectively.
Newport 1BR condos saw a 16.92% decline over last month, while 2BR condos were up 42.37%. It's important to note that there weren't a lot of 2BR sales in the Newport area last month.
1,2 and 3 BR condos in the downtown area all had sharp increases over January as buyers continue to look for deals in this largely undervalued area.
Please click on the link below if you can't view the chart:
Information provided by:
Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com
Has the market stabilized?
Get up-to-the-minute market reports:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com
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