Real Estate Market Report: Third Quarter 2018 – Hudson County, NJ

The Hudson County housing market surged yet again in the third quarter, with prices rising overall and particularly for multi‑family and condo properties. Overall sales for the county were down almost 8% from last year’s third quarter, with both multi‑family and condo sales falling sharply due to the lack of inventory available on the market. But that lack of supply, coupled with high levels of demand, is having a dramatic impact on pricing. Average prices were up over 8% from last year’s third quarter for all property types, rising over 3% for single‑family homes, 11% for multi‑family, and almost 9% for condos. And for the year, we’re seeing pretty dramatic price appreciation: single‑family homes up 8%, multi‑families up 17%, and condos up 6%. Going forward, we expect this to continue through a robust fourth quarter, and into 2019, as demand for housing in Hudson remains strong.

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Posted on October 10, 2018 at 4:29 pm
Vincent Abbatecola | Category: Rand Country Blog | Tagged , , , , ,

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