HUDSON COUNTY WEEKLY REAL ESTATE MARKET REPORT

The Hudson County Weekly Real Estate Market Report has been updated for Hoboken, Downtown Jersey City, and Jersey City Heights to reflect MLS data through 4/24/23. Listings continue to move through the pipeline from Active to Pending to Sold, with new listings coming onto the market each week. The median days on market is starting to uptick slightly with inventory levels rising in the spring market. Overall, inventory levels remain low while prices remain high. 

As new properties come onto the market, which is typical in spring, the Absorption Rate increases which indicates there are more properties available. Hoboken, Downtown Jersey City, and Jersey City Heights are predominantly a Seller’s market, yet there has been a shift for Downtown Jersey City and Jersey City Heights toward a neutral market. Hoboken remains a strong Seller’s market.

HOBOKEN 

Absorption rate (which measures how quickly inventory is moving) is calculated by # active listings / # pending sales in the last 30 days. The table below reflects the Hoboken Real Estate Market remains a strong Seller’s market for all categories: Studio/1BR, 2BR and 3BR condos, Single and Multi-Family homes. 

DOWNTOWN JERSEY CITY

Absorption rate: Downtown Jersey City Real Estate market is a new Buyer’s market for Single Family homess. It is a Seller’s market for all other home categories: Studio/1BR, 2BR and 3BR condos, and Multi-Family homes. 

JERSEY CITY HEIGHTS

Absorption rate: Jersey City Heights Real Estate market is a Seller’s market for all home categories: 0/1BR condos, 2BR condos, 3BR condos, Single Family homes and Multi Family (2+) homes saw a shift this week and are now a buyer’s market.

PROPERTY LISTINGS

For a full view of available listings, visit the Rakela Team search page.

The Rakela Team
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