The absorption rate dropped 1.93% to a very low 9.64 weeks as buyers snapped up whatever decent properties are left in the Hoboken.
Pending sales are up another 12.08% to 269 units and total sales for the month are up another 6.73% to 104 units and up 136.17% from the same time last year.
Days on the market decreased 21.15% to 41 days.
Studio units increased 4.67% to $733.82/sq.ft.,
1BR units increased 1.14% to $720.93/sq.ft.
2BR units increased 3.09% to $728.06/sq.ft.
3BR units saw a modest decrease of 2.44% to $700.09/sq.ft.
Overall a very solid month.
Downtown Jersey City
Downtown Jersey City showed a decrease in their absorption rate of 31.27% to 15.01 weeks.
Pending sales decreased this month by 5.71% to 222 units and up an impressive 152.27% from the same time last year.
Total sales decreased 9.09% to 80 units from last month and increased 122.22% from
the same time last year.
Days on the market increased by 2% to 49 days.
1BR units saw a 8.17% increase to $713.20/sq.ft.
2BR units saw a 3.96% decrease to $732.94/sq.ft.
3BR units increased by 3.41% to $716.89/sq.ft.