Friday, November 17, 2023

October Update | Marry The House and Date the Rate



Marry The House....Date Your Mortgage Rate


The big news is that inventories remain low in Hoboken with the current inventory for September at just 8.32 weeks.

Even with slight dips for 1-2BR condos and a 12.85% average price drop for 3BR units, pricing for 1-4BR condos in Hoboken remained strong again for September, 
with all categories averaging over $800/sq.ft.

4BR condos hit an all-time high at $1255.96/sq.ft.

Downtown Jersey City

The big news for October is that even with an increase of 45.08% to 16.67 weeks, inventory remains firmly in seller's market territory for downtown Jersey City.

1BR condos increased slightly to 1.95% to $862.01/sq.ft.

2BR condos decreased 3.01% to $884.64/sq.ft.

3BR condos performed well with an 3.74% increase to $970.14/sq.ft.

Limited inventory is still driving the market right now.

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.