We've had a very robust month with all market segments averaging well over $600/sq. ft.
The standouts were the Hoboken 3BR market with an increase of 13.68% and downtown 2BR with an increase of 7.80%. We're entering new pricing thresholds as pricing continues to strengthen.
Many properties are still selling with multiple offers above asking price, so I don't see a stabilization of pricing until inventories increase to catch up with demand.
Please click on the link below for full details:
May 2015 Real Estate Update
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Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
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