There was a slight retraction in pricing for Hoboken in August, although studio-2BR units are still entrenched in the $625-$650/sq. ft. range and 3BR are selling strong at $717.65/sq. ft.
In downtown Jersey City there were increases across the board although 2BR units increased just .55%.
Newport saw a slight drop for 2BR condos and a surge in pricing for 3BR condos. However, there isn't much 3BR activity in the Newport area, so fluctuations are more common in this segment.
These changes have been counterbalanced by falling absorption rates for Hoboken and downtown Jersey City inventories which means properties are selling faster than last month for slightly lower prices.
Please click on the link below for full details:
August 2015 Real Estate Update
Please let me know how I can help.
Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
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