Hoboken
The first month of 2025 in Hoboken kicked off with strong 1BR pricing.
1BR condos at $913.09/sq. ft. were at their highest levels since April 2024.
Sales activity overall is still very low with only 40 sales for the month and demand is still fairly high.
Days on the market did increase 14.29% and could be an indication that properties are lingering a bit more on the market. If this continues it may provide some relief to buyers constantly being outbid on properties.
Downtown Jersey City
Pricing was strong for downtown Jersey City as well with 2BR condos at $901.93/sq.ft. and 3BR condos at $978.52/sq.ft.
Sales activity is still very low at just 40 transactions and the pace of sales is a bit more neutral at 20.04 weeks inventory. This could be an indication that we're moving away a bit from the intense bidding wars here.
20.04 weeks of inventory is a bit more of a balanced market than Hoboken's 4.55 weeks of inventory.
Days on the market increased 29.73% to 48 days which is another indicator that the market may be easing up a bit.
Kevin G. Dowd
Broker of Record
5 Marine View Plaza
Suite 310
Hoboken, New Jersey 07030
Mobile: 201.606.5957 | Office: 201.659.8600
*Licensed in New York
*Nationwide referral network
Each office is independently owned and operated.
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