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This was no doubt fueled by the days on market for Hoboken plummeting to just 12, down 57.14% from last month.
Total sales for Hoboken are up 20% to 60 units.
Overall a very robust market.
For downtown Jersey City, all categories also priced over $800/sq.ft., but this isn't the first time this has happened here.
Days on the market for downtown Jersey City also dropped 16.67% to 30 days while total sales increased 15.38% to 45 units.
Also a very strong market.
Both markets seems to be accelerating at the moment as increased demand continues.
OK. So 2023 is now underway! We're off to an OK start. Just OK.
The pace of sales slowed for both Hoboken and downtown Jersey City.
Hoboken is still very much in seller's market territory while downtown Jersey City is heading towards a more neutral market.
Total sales was relatively stable for January with sales dipping from 38 to 30 units in Hoboken and 34 to 30 units in downtown Jersey City.
2 and 3BR pricing for Hoboken dipped, while 1 and 2BR pricing in downtown Jersey City increased.
It looks like we're trying to find our footing as we enter the spring market.
Mortgage rates have gone down over the last several weeks which should start to incentivize buyers to enter the market.