**Stay tuned for my 2024 End of Year Market Report...coming soon!**
Hoboken
The pace of sales increased by 100.73% for Hoboken in December. Don't worry, it's still at 8.27 weeks' of inventory which is still firmly in buyers' market territory.
Pending sales also dipped by 35.23% for December to 57 units. This is a function of the normal holiday slowdowns coupled with a complete lack of inventory.
2024 ended with prices slipping a bit across the board, with the exception of 4BR units which were up 3.10% to $1100.23/sq.ft.
Downtown Jersey City
Downtown Jersey City also slowed down, but the pace of sales only increased by 9.47% to 18.27 weeks' of inventory. This is approaching a bit more of a neutral/balanced market.
Pending sales dipped 14.29% to 90 units and is down 8.43% when compared to last year.
Pricing for studios to 3BR units slipped, with 1BR units dropping by 13.44% to $756.63/sq.ft.
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
Your Long Island, New York Referral Partner
Each office is independently owned and operated.
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