Pending sales for Hoboken and downtown Jersey City dipped slightly this month mostly due to the seasonal slowdown that we always experience.
The inventory for sale at the moment sold quicker than last month as is evidenced by the decreased absorption rates for Hoboken and downtown Jersey City.
1 BR and 2 BR sales are the best indicators of pricing because that's where the majority of sales take place. Pricing in Hoboken for these units has consistently been in the $550+/sq.ft. range.
Newport 1BR and 2BR units have consistently been in the $600+/sq.ft. range and Downtown units have been in the $450-$500/sq.ft. range for 1BR units and the $500-$550/sq.ft. range for 2BR units.
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
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