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 5/15/23.

TRENDS

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 in Downtown Jersey City and Jersey City Heights toward a neutral market and in some instances a seller’s market. Hoboken remains a strong seller’s market.

HOBOKEN

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 Family homes.

DOWNTOWN JERSEY CITY

Absorption rate: Downtown Jersey City Real Estate market is a buyer’s market for Single Family homes. 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 the following home categories: 0/1BR condos, 2BR condos, 3BR condos, Single Family homes. Multi-Family homes are a buyer’s market.

PROPERTY LISTINGS

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

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Recent Reviews

Elizabeth is phenomenal real estate broker. She is honest and takes great pride in finding the right home for her client. Elizabeth is very patient and showed us properties multiple times - there was never any pressure to “do something”. Elizabeth knows Hoboken real estate and the community extremely well. We couldn’t be happier w/ our experience working w/ Elizabeth and would enthusiastically recommend her to anyone looking for property in Hoboken or Jersey City.

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