November ’17 Market Report
The Market continues to rise across the board, but could it be leveling out in certain areas?
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WHAT DO THESE CHANGES MEAN?
The market has continued to rise over the past year. Journal Square and The Heights have had much more noticeable increases, whereas Hoboken and Jersey City are increasing at a slower rate. The median price for homes in The Heights are especially note-worthy, having increased by 50% for condos and 35% for 1-4 Family Homes at the same time last year. It looks like the market will continue to rise in this area especially.
In Downtown Jersey City and Hoboken, inventory has been rising over the past couple of months. We are still currently in a seller’s market, but as inventory is increases, time will tell if we will shift over to a more neutral or even a buyer’s market.
It should be noted that during the holiday season, we can expect things to slow down again before entering the Spring Season. Check back next month for our next market update!