Thursday, January 22, 2015

2014 Year End Summary-Big Prices Increase in EVERY Category-Hoboken/Downtown Jersey City

So, here's the moment that everyone's been waiting did the local real estate market perform in 2014?

The answer is....very well.

Prices have increased in every sales category with 3 BR units showing the largest increases in Hoboken,  Newport and downtown Jersey City.  It seems these days that any decently priced 3 BR condo sells even faster than 1 BR and 2BR units.

What's more interesting is when you look back over the last 5 years and see how pricing has skyrocketed.  We're talking significant price increases.

The complete lack of inventory and increasing demand definitely keep pricing very strong.

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Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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