Saturday, January 6, 2024

December Real Estate Update | ALL-TIME HIGHS! 2023 ENDS STRONG

   




I hope everyone had a wonderful holiday season!

The Hoboken and downtown Jersey City markets ended 2023 on a strong note!


Hoboken

The big news for December is that 2BR condos hit an all-time high of $924.77/sq.ft.

The continued lack of inventory coupled with strong demand and lower interest rates is fueling the market.


Downtown Jersey City

The big news for December is that 1BR and 2BR units hit all-time highs.  1BR units reached $888.74/sq.ft. while 2BR units reached $959.30/sq.ft.


There is speculation that pricing will remain strong in 2024 now that mortgage rates are dropping and more buyers are re-entering the market.






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.





1 comment:

Anonymous said...

Wow, the condo market is booming in December! Any tips on navigating this hot market? Also, curious if anyone has insights on a reliable and affordable buy mba dissertation writing service?