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March 2023 Market Update

We wanted to share March’s real estate market report for Hoboken and Jersey City as we just compiled the data. Numbers are certainly light as compared to last year’s run. A year ago rates were still at historically low points as buyers rushed to the market to snap up homes. This year, it’s been slow, however, we are now seeing bidding wars as buyers are more immune to current rates. Educated buyers are also aware that with low inventory, prices will remain stable and only tick up if they wait to buy their next home. If you are a buyer shopping in today’s market, come ready and come armed (with a pre-approval)!

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