Given the rate at which Jersey City downtown condo buyers are absorbing the inventory, there is only 1 month’s supply of active condo listings if no other condos are listed.
As of yesterday, September 2, there were 90 condos listed in the 07302 zip code, and 82 condos under contract within the past 30 days. resulting in an absorption rate of 1.1. A rate of 5 or under indicates sellers are in control of the market.
In all zip codes in Jersey City, 142 condos went under contract within the past 30 days. There are 308 active condo listings in the entire Jersey City, and an absorption rate of 2.2. The median days on the market in Jersey City downtown is 22.
The median in the whole of Jersey City is 28. Have a question about the Jersey City real estate market? Call Janice Hall at (201) 232-8577.
