Is Fall the Time to Sell Your Home in Our Market?

Inventory is growing in our market, but you shouldn’t expect home values to dip. If you’re a seller, I suggest you put your home on the market now.

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What’s been happening with our Jersey City/Hoboken area market so far in 2018? How should sellers feel about our fall market moving forward? Let’s look at the latest year-to-date statistics and how they compare to the same numbers from 2017.

The number of new listings in Jersey City increased 35% from 798 to 1,216 homes on the market. There are more homes for buyers to choose from, and this increase has created a healthier market in downtown Jersey City. The number of sales, meanwhile, decreased from 477 to 402. That’s not a huge change, but keep in mind that we have a lot of new construction inventory that’s not showing up on the MLS. Sales are still out there and buyers are still buying—you just need to give them a reason to buy. 

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Sales are still out there, and buyers are still buying—you just need to give them a reason to buy.

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In Hoboken, the number of new listings increased 22% from 1,139 to 1,460 homes on the market. Unlike Jersey City, though, the number of sales in this area increased slightly from 688 to 705.

This data tells us that a shift is happening in our market, but I don’t think home values are going to dip because the banking industry is still very strong. If you’ve been on the fence about selling, I recommend that you do it now.

On that note, we’re confident that our marketing strategies can help you get your home sold for top dollar, so if you would like to get started now, don’t hesitate to reach out to us.

If you have any further questions about our fall market, feel free to give us a call or send us an email as well. We’d love to help you.