Condo buyers in Jersey City downtown have more inventory to choose from, at least more than they had one month ago. The condo absorption rate in Jersey City downtown went up to 2.8 months' supply compared to 1.6 months in mid August.
At this time last month, there were 127 condos for sale, 77 of which went under contract in 30 days or less. As of September 12, there were 136 condos listed for sale in downtown Jersey City, of which only 49 went under contract in 30 days or less.
With condos taking slightly longer to sell, buyers who lost out in the bidding frenzy that took place earlier this year now have the opportunity to check out more listings before making an offer.
If you need help buying or selling real estate, call me, Janice Hall, Weichert Realtors, at (201) 232-8577.
