Sunday, October 3, 2010

Hoboken Up! Downtown Jersey City Up!-Hoboken/Downtown Jersey City Pending Sales Update-October 1, 2010

Hoboken turned around its 2.2% decrease with a healthy 10.7% increase this week. What's important here is that a number of %600,000+ properties went under contract. This section of the market has been a bit lagging over the last several weeks as upscale and trade-up buyers have been a bit skittiish with the market being so volatile.

Downtown Jersey City also reversed its 7.8% decrease last week with a solid 6% increase in pending sales this week. What's interesting here is that most of the properties under contract last week were under $400K. I feel that buyers in downtown Jersey City are still a bit on the fence. There was a great property that went under contract at 296 Grand, but that property was deeply discounted.

As I say every week, there are some great deals in downtown Jersey City right now!

Pending Sales for Hoboken October 1, 2010:

145 dabos vs. 131 last week (10.7% increase)

Pending Sales for downtown Jersey City October 1, 2010:

88 dabos vs. 83 last week (6% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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