The pace of sales increased to 11.47 weeks based on normally slow winter activity. These number are still a strong indicator of a seller's market.
Total sales are down to 48 units which is normal as we come out of the winter months. Pending sales are up 29.93% which is an indicator of sales activity in the next 30-60 days.
3BR continued their strength this month with sales averaging $927.45/sq.ft.
1BR units did dip to $680.31/sq.ft., but that was caused by two fixer upper properties that sold way, way below market. These numbers will rebound next month for sure.
Downtown Jersey City
The pace of sales increased to 17.67 weeks which is also based on slow winter sales. With pending sales up 29.66%, we will see the pace of sales increase as these pending sales close.
Following the seasonal trend, total sales are down 26.42%. This will also change as the pending sales close in the next 30-60 days.
Pricing for 1-3BR units was fairly stable this month, with the highlight being 3BR units that increased 6.69% to $853.28/sq.ft.
Kevin G. Dowd
Broker of Record
100 Washington Street
Hoboken, New Jersey 07030
Cellular: 201.606.5957 | Office: 201.659.8600
Each office is independently owned and operated.