Hoboken
The market is off to a solid start for 2022 with 3BR units posting big gains. There were 4 units that sold over $1000/sq. ft. with 1 unit selling at $1415.97/sq. ft.
There have a been a lot of multiple bid situations over the last few weeks, especially in the 2BR market. I will be curious to see how those sales will drive pricing in the upcoming weeks.
Downtown Jersey City
The downtown market slipped a little in January with 1BR pricing sliding 12.58% and total transactions slipping by 29.33%.
Following Hoboken, pricing for 3BR units also increased by 14.38%.
There has been a lack of properties in the downtown luxury buildings over the last several week. Hopefully this will change in the upcoming weeks.
Happy Hunting!
Kevin G. Dowd
Broker of Record
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100 Washington Street
Hoboken, New Jersey 07030
Cellular: 201.606.5957 | Office: 201.659.8600
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