hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | May 21, 2021

Hoboken & Jersey City Real Estate Trends
May 21, 2021
by Ann Wycherley
Broker Associate, Brown Harris Stevens

At the beginning of the year, we discussed the rental market in some detail. Lately we have heard that our friends across the river in Manhattan and the boroughs are seeing a big decrease in the amount of available units for rent, with the larger managed buildings filling up as people start to return to work on at least a part time basis.

Here in our areas, we still have a good amount of inventory, but it is down from where we were a couple of months ago. As more companies start to announce their return to work dates more people are coming back to our areas and the market is beginning to pick up speed. Here’s a look at what is available on the MLS across our areas. ( Please note, these numbers to not include the private rental buildings ).

Hoboken:
Studio /1-Bedrooms
277 available units, average price is $2,131
2-Bedrooms:
175 available units, average price is $2,777.
3-Bedrooms:
51 available units, average price is $3,444.
4-Bedrooms:
10 available units, average price is $5,201.

Downtown Jersey City:
Studio /1-Bedrooms
220 available units, average price is $2,143.
2-Bedrooms:
132 available units, average price is $2,786.
3-Bedrooms:
24 available units, average price is $3,570.

Jersey City Heights:
Studio /1-Bedrooms
53 available units, average price is $1,579.
2-Bedrooms:
73 available units, average price is $1,997.
3-Bedrooms:
56 available units, average price is $2,382.
4-Bedrooms:
10 available units, average price is $2,925.

(Information provided by Hudson County MLS)

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As an award-winning agent, Ann Wycherley brings nearly 20 years of solid real estate experience in the Hudson County market. She has been recognized by the New Jersey Circle of Excellence for many of those years and recently earned a Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club. Direct and thorough, Ann’s straightforward approach to navigating the complexities of real estate in Hudson County has fostered strong working relationships with repeat clients and countless referrals from those who are looking to get the most out of buying or selling their home.