The market is starting to really pick up again. I see a lot of movement especially in places that are priced under $500,000. Developers are continuing to build on a regular basis yet at a somewhat slower pace. And there is still a strong demand for waterfront property both in the existing condo buildings and the newer places such as Maxwell Place. Sellers seem to be pricing more fairly, Inventory levels seem to be decreasing and once again we are experiencing multiple offers on properties. And although inventory levels are decreasing, buyers still have more to choose from than they did in last years market. It is a better time to be a buyer this year vs last year and this is reflected in the amount of properties that are currently "under contract" in Hoboken, which is a total of 256 units in the following categories:

Condo's
studio = 4 units
one bedroom = 79 units
two bedroom = 130 units
three bedroom = 30 units
four bedroom = 1 unit

1-4 family homes
one family = 2 units
two family = 4 units
three family = 3 units
four family = 3 units

For more detailed information on the market or if you are interested in buying or selling a property, please contact me at jmarciano@empiregroup.com

information compiled on 03.12.07 from the Hudson County Multiple Listing Service, information deemed reliable but not guaranteed.