Tuesday, October 17, 2023

September Update | Markets Still Remain Very Strong



The big news for September is that pricing remains robust despite higher interest rates. At this time, the supply of properties cannot keep up with the current demand.

Studios took a 4.34% drop to $766.82/sq.ft.

1 and 2BR condos stayed relatively stable with 1.56% and .05% increases, respectively.

3BR rebounded 18.64% to a strong $947.54/sq.ft.

Inventory remains low at just 7.25 weeks.

Downtown Jersey City

The big news for September is that the supply of properties also cannot keep up with the current demand.

1BR condos dipped 2.22% to $845.49/sq.ft.

2BR condos increased 11.50% to a strong $912.11/sq.ft.

3BR condos also did very well with an 8.74% increase to $936.03/sq.ft.

Overall still a very active market for the few properties that are listed for sale.

Inventory remains low at 11.49 weeks.

Still a great time to sell.

Kevin G. Dowd
Broker of Record 

5 Marine View Plaza
Suite 310
Hoboken, New Jersey 07030
Mobile: 201.606.5957 | Office: 201.659.8600 
Your Hudson County, New Jersey Referral Partner

Associate Broker

400 Garden City Plaza, Suite 438
Garden City, New York 11530
Mobile: 201.606.5957 | Office: 516.873.7100
Your Long Island, New York Referral Partner

Each office is independently owned and operated.