Categories: Hoboken Condos
September was another strong month. Prices up about 4% from a year ago. The trend continues upward (see the 6 month rolling average chart below). The average 1 Bedroom is over $600k. The average 2 Bedroom over $750k. Larger units are almost $1.3million. While there were more units listed this month, they are selling faster so inventory remains low and multiple bids are the norm on anything nice. So the competition for good properties continues. Keep in mind, it’s not just price that matters. Sellers want buyers to waive the appraisal, have plenty of cash, give up on inspection requests and be flexible about a closing date. Welcome to the new normal!
Here are the numbers: