Hoboken
It was quite a month for Hoboken with 1-4BR properties all reaching record highs.
This is the first time that 1,2 and 4BR units averaged over $900/sq.ft. at the same time and the first time that 3BR condos averaged over $1100/sq.ft.
Inventory was very low at 5.12 weeks. We haven't seen levels this low since January of this year.
Downtown Jersey City
It was also quite a month for downtown Jersey City with studio apartments hitting a record and 1-3BR condos all averaging over $900/sq.ft.
We haven't seen properties move this quickly since September, 2003.
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3 comments:
Wow, August really set new records in real estate! I was checking out the Faisal Town Phase 2 map, and it’s clear why demand is rising there. The updated plots and infrastructure improvements make it appealing. Definitely a month to watch for investors and buyers alike.
Wow, this August real estate update is wild! Watching the real estate video really highlights how record-setting the month was—sales, prices, everything’s booming. Loved the breakdown of trends and market shifts. Definitely gives a clear snapshot. Can’t wait for the next real estate video to see September’s numbers!
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