Tuesday, June 13, 2023

Hoboken Averages OVER $800 Sq. Ft. |Hoboken/DTJC Real Estate Update

The big news this week is that all Hoboken studio to 4BR categories were sold at an average sales price of over $800/sq. ft. in May.  This is the first time this has ever happened.

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.

Happy Searching!

Kevin G. Dowd
Broker of Record 

100 Washington Street
Hoboken, New Jersey 07030
Mobile: 201.606.5957 | Office: 201.659.8600 

Kevin G. Dowd
Associate Broker

400 Garden City Plaza, Suite 438
Garden City, New York 11530
Mobile: 201.606.5957 | Office: 516.873.7100

Each office is independently owned and operated.