Tuesday, December 19, 2023

Nov Update | 1BR Hits All-Time High


Wishing everyone a joyous holiday season and a prosperous New Year!

Mortgage rates are finally starting to come down!


The big news for November is that 1BR condos hit an all-time high of $923.09/sq.ft.

Lower inventory with increased demand was one of the driving factors in this.

Day on the market remained at 19 days which is 34.48% lower than this time last year.

Downtown Jersey City

The big news for November is that total sales dropped 30.77% to 36 units.  As is evidenced by the absorption rate increasing 22.74% to 20.46 weeks, sales are moving a little slower in downtown Jersey City at the moment.  

Pricing remains steady, except for 3BR condos which is always volatile.

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.