Over two months into the new year and not a flake of snow. Am I dreaming? Here are the big two items that have had the biggest impact on the Hoboken real estate market so far this year.
Low InventoryWith Hoboken condo inventories down some 60% from 18 months ago, it has impacted the market in several ways. Lower days on market for sold properties is chief among them. Bidding wars and contracts for well priced condos is leaving stale inventory in the dust as Hoboken buyers, with limited choice, are acting fast.
Low Interest RatesHistorical lows in interest rates are having an impact on move up buyers. Three bedroom Hoboken condos are selling fast and furious as families with a long term plan are locking in for the long haul.
Lets have a housing shortage! Only 225 on the market.
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