Hoboken
The pace of sales has been slowing down a bit over the last few months as inventory creeps up a little. At 8.28 weeks of inventory, the market is still moving quickly, but we have 43.25% more inventory than we had at this time last year.
Pending sales increased 13.92% to 90 units, but it's down 25% from the same time last year.
Pricing for 1BR units remained steady with a .39% increase, while 2BR units dropped 7.38%. 3BR units saw a healthy 8.26% increase to $1038.53/sq.ft.
Downtown Jersey City
Conversely, the pace of sales in downtown Jersey City picked up slightly, with inventory decreasing 2.33% to 15.52 weeks.
Pending sales ticked up 2.27% to 135 units.
Pricing for 1BR units dipped 4.72%, 3BR dipped 1.95% and 2BR units saw a .31% increase.
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