January 2024 Market Report for Hoboken & Jersey City

Dated: February 6 2024

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We just compiled the numbers for January and the market trend is continuing. Buyers are paying up to acquire the average sale price is on an upward trend while Days On Market is trending downwards. With limited inventory, this trend will continue until the Fed starts its initial rate drop. I mentioned in my last post that it was expected to be last week, however, most analysists point towards the end of spring / early summer for rates to start coming down.
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