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 3/13/23. Listings continue to move through the pipeline from Active to Pending to Sold, with new listings coming onto the market each week in most home categories. The median days on market is shrinking overall due to some properties moving into contract quickly (often after a bidding war) as a result of low inventory. Overall, inventory is low while prices remain high. We are seeing more properties come onto the market and increase absorption rate in some categories.
Absorption rate (which measures how quickly inventory is moving) reflects the Hoboken Real Estate Market is a 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 Seller’s market for Studio/1BR condos, 2BR condos, 3BR Condos, and Multi-Family (2+) homes. Single Family homes are a Buyer’s market.
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, and Single and Multi Family (2+) homes.
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