Available inventory fell in Hoboken for October, but increased in downtown Jersey City.
The decreased demand in the market has been met with lower inventory which will help to stabilize prices.
It's interesting to note that 1BR sales in Hoboken were the highest they've been since December 2019.
It's difficult at this point to tell the impact more normalized mortgage rates will have in the market because this time of year is when we normally see a seasonal slowdown.
The next few months will provide us with a clearer picture.
Kevin G. Dowd
Broker of Record
100 Washington Street
Hoboken, New Jersey 07030
Cellular: 201.606.5957 | Office: 201.659.8600
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