I hope that everyone is safe, healthy and with power in the aftermath of Sandy.
Many property owners are wondering how Sandy has impacted the real estate market. Clearly the market has slowed down in the past two weeks. TheÂ properties that are under contract will take more time to close as properties will need to be appraised and inspected once again.Â However given the limited amount of sales inventory in Jersey City, I believe real estate activity will pick up within a few weeks.
Below is an overview of the Jersey CityÂ real estate market.
AVAILABLE PROPERTIES: 112
One Family & Multi Families: 17
Studios: 5Â One Bedrooms: 42Â Two Bedrooms: 35Â Three Bedrooms: 13
PROPERTIES UNDER CONTRACT: 194
One Family & Multi Families: 25
Studios: 7Â One Bedrooms: 70Â Two Bedrooms: 76Â Three Bedrooms: 14Â Four Bedrooms: 2
SOLD PROPERTIES: 37
One & Multi Families: 5
Studios: 1Â One Bedrooms: 14Â Two Bedrooms: 13Â Three Bedrooms: 4
All information deemed reliable but not guaranteed. Please disregard if listed with another broker. Information is pulled from the Hudson County MLS.