The market continued its streak in August with inventory moving quickly and prices remaining stable for both Hoboken and downtown Jersey City.
Pending sales slid again for August as the spring sales rush moves past us.
Interesting tidbit is that 1BR sales in Hoboken were only $.27 off their peak pricing from August 2021.
I did check back on data from previous years and every spring pending sales increase and then slowly decrease throughout the summer. It's not an indication of market weakness.
Buyers are settled in with the current mortgage rates and more and more are looking towards adjustable rate mortgages to keep their rate down.
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.