Real Estate - Back To The Good Old Days?

Hoboken and Jersey City real estate agents are all too familiar with multiple offers these days. Despite popular pessimistic consumer sentiment, it is obvious to us that there is pent up demand in the housing market.

Here are just some recent addresses that have received multiple offers:

1100 Adams St #611 Hoboken, NJ - List $509,000 - Multiple Bidders 6 days on market
708 Willow Ave #3B Hoboken, NJ - List $279,000 - Multiple Bidders 5 days on market
1034 Clinton St #416 & #106 Hoboken, NJ List $599,000 and $489,000
- Multiple Bidders 1 day and 10 days on market
15 Warren St #410 Jersey City NJ - List $949,000
- Multiple Bidders 7 days on market

One caveat, there are 70+ listings for sale that have been on the market 99 days or more and there are 30+ listings that have been on the market longer than 150 days when the median days on market has been under 60 days, showing that there are still over priced listings that are not selling.



Keep in mind inventory is still very low in Hoboken with just over 200 units for sale.


So, if a home is priced appropriately it will sell in today's market in less than 60 days according to the latest figures.

This is true in any market, buyer's, seller's or balanced. Homes that are priced appropriately for their condition and location will always sell compared with those that are priced out of their appropriate range.