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 6/19/23.
TRENDS
Listings continue to move through the pipeline from Active to Pending to Sold, with new listings coming onto the market each week, though we’ve seen a slight decrease in new listings coming onto the market. Overall, inventory levels remain low while prices remain high.
We’ve seen a continued uptick in absorption rate this week, particularly in Downtown Jersey City where neighborhoods shifted to buyer and neutral markets. Overall, Hudson County market remains a predominantly seller’s market across the majority of neighborhoods and home categories.
HOBOKEN
The table below reflects the Hoboken Real Estate Market remains a strong seller’s market for all home categories: Studio/1BR, 2BR and 3BR condos, Single Family homes and Multi-Family homes.
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DOWNTOWN JERSEY CITY
Absorption rate: Downtown Jersey City is a seller’s market for Multi-Family homes. It is a neutral market for Studio, 1BR, and 2BR Condos. It is a buyer’s market for 3BR Condos and Single Family homes.
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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 and Multi-Family homes.
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PROPERTY LISTINGS
For a full view of available listings, visit the Rakela Team search page.