Tuesday, April 9, 2024

March 2024 | Hot Market Update: 3BR Sales Soar 20.80% in Hoboken🚀

     



3BR sales in Hoboken increased by 20.80% as low inventories continue to drive pricing.

Pending sales increased for both Hoboken and downtown Jersey City. The increase is an indicator of increased sales in the upcoming 30-60 days.

Properties are still moving quickly and still selling over asking in many cases.


Hoboken

The big news for Hoboken is that 3BR sales increased to $1036.97/sq. ft. 
We haven't been over $1000/sq. ft. since July '23

4BR units performed equally as well at $1037.23/sq. ft. 

2BR sold well at $906.48/sq. ft. while the absorption rate remained steady at 7.89 weeks of inventory.
In Hoboken, sales remain robust with all market segments well over $800/sq. ft.



Downtown Jersey City

The big news for downtown Jersey City is that total sales increased 70% to 51 units.  This increase in sales helped lower the pace of sales 43.57% to 16.23 weeks.

3BR condos increased 47.29% to $898.52/sq. ft. after an uncharacteristically low performance last month.





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.





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