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.
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