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 4/3/23. 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 shrinking overall due to properties moving into contract quickly (often after a bidding war) as a result of low inventory and an increased number of new listings. Overall, inventory is low while prices remain high.  As new properties come onto the market, which is typical in spring, absorption rate increases indicating there are more properties available which tilts the market from a predominantly buyer’s market toward a more neutral market.

HOBOKEN 

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, Single Family homes and Multi Family (2+) homes.

PROPERTY LISTINGS

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

The Rakela Team
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