HOBOKEN WEEKLY MARKET REPORT

The hudson Tea Buildings

The table below reflects the Hoboken Real Estate Weekly Market update with data through July 17, 2022. Listings continue to move from Active to Pending to Sold at a steady rate. Average prices remain consistent, with new listings coming on the market every week; there was a slight uptick in average listing price for 2BR condos due to high end new construction hitting the MLS. Absorption Rate measures the rate at which homes are sold over a given time period (30 days). A score of 5-6 is a neutral market, with anything less than 5 a Seller’s Market and anything greater than 6 a Buyer’s Market. Per the current Pending Sales and Active Listings, Hoboken remains a Seller’s market.

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The Rakela Team
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