Categories: Hoboken Condos
Fireworks are in store – and not just for the 4th of July. The Hoboken real estate boom continues. Prices setting new highs with the average price per square foot now at $682. The average sales price is up 18% over a year ago. We even had to reduce the font for the price of 3-bedroom properties to make the numbers fit our chart. Inventory remains low and multiple offers and over-asking prices are the order of the day. There are no signs of abatement in sight.
People often ask me, “is it a bubble?” I sincerely think not. Buyers are buying to occupy the premises, putting down at least 20% and have been priced out of Manhattan, Brooklyn and often Queens. Hoboken is a bargain compared to some places.
Here are the June numbers:
Unfortunately, the fireworks are no longer over the Hudson so the crowds won’t be in Hoboken, as they were in past years. Whatever your plans for the weekend, have a safe, fun-filled Fourth and don’t hesitate to reach out to us for all your real estate needs!
The Turoff Team