The pace of condo sales in Jersey City downtown has picked up despite a sluggish start and bad weather.
As of today, January 29, there is only 1.57 months' supply of condos on the market given the pace at which buyers are purchasing homes in the area. Currently, there are 77 condos listed for sale in the downtown market, and already 49 condos are under contract in the last 30 days.
2 weeks ago, there were 82 condos listed and only 38 under contract, or a 2.1-month supply of inventory.
The current Jersey City downtown market absorption is significantly less than it is for the entire Jersey City area, which is at 2.52 months' supply.
For more information on the Jersey City real estate market, call Janice Hall at (201) 232-8577.
