There was a big jump in May total sales for Hoboken and downtown Jersey City. Whatever good inventory is out there is being snatched up very quickly.
This is further supported by the Absorption rates for Hoboken and downtown Jersey City which both dropped significantly for May.
Several higher priced sales for 3 BR condos in Hoboken pushed the average sales price to $600/sq.ft.
Except for 2 BR Newport sales, we are trending way up from 2013.
I'm still trying to figure out why inventory is so low at the moment.
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
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