2021 May 11th

The April Hoboken Condo Sales Report

Interesting to see where prices are headed in a market with a national inventory shortage. While average sales prices fell a notch from last month, on a per-square-foot basis, it is actually up to the highest number since last June. Inventory remains low and sales pace is high. Importantly, there is only a 2 month supply of inventory on the market – a traditional sign of a seller’s market. Prices are higher than a year ago, though not yet back to 2019 levels. I suspect, as vaccination continues apace and things open up and return to normal, the economy and our local housing market is going to boom.

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