Friday, March 27, 2020

Where is the Market Headed? | Hoboken/Downtown Jersey City Real Estate Update | Feb. '20

First, I hope that this message finds everyone safe and sound.  Please practice social distancing, use sanitizing wipes, masks and gloves and wash your hands more than ever.

If anyone is sick or needs any help, please reach out to me. 

Well, the market slid a bit at the end of last year and was just starting to turn around until we all went under lockdown.

Pending sales increased by 29.55% for Hoboken and 18.63% for Jersey City for February, which is a good indicator of future sales activity.  By many accounts, we were just starting to turn a corner.  There was a noticeable uptick in activity and bidding wars.

Pricing did decrease in all market segments for February and now we'll have to see how the numbers stack up for March.

I came across an interesting article about 5 reasons why we aren't heading towards another housing crash.

It's a very interesting read.

Kevin G. Dowd
Broker of Record
Co-Team Leader The Turoff Team
100 Washington Street
Hoboken, New Jersey 07030
Mobile: 201-606-5957 | Office: 201-659-8600 x408

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