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Hoboken Real Estate Market Update
Manage episode 167181536 series 1320077
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We currently find ourselves in a seller’s market in Hoboken, and this is due to a lack of inventory. There are actually more homes under contract right now than we have for sale on the market. There is less than a 30-day supply, so we need more homes!
We’re estimating that we have 5-7 buyers for every home, so this is good news for sellers, and not-so-great news for buyers. Sellers can expect high sales prices, and buyers can expect bidding wars. As a buyer, this means you need to be pre-qualified and ready to act. This market will be tough, but it won’t be impossible.
Interest rates are also extremely low, so buyers right now have the opportunity to save thousands of dollars in interest payments. I suggest you lock in a low rate now!
Overall, we just need more homes on the market in Hoboken, and home buyers need to be pre-qualified for a mortgage and ready to act.
If you have any further questions, please don’t hesitate to contact me!
We’re estimating that we have 5-7 buyers for every home, so this is good news for sellers, and not-so-great news for buyers. Sellers can expect high sales prices, and buyers can expect bidding wars. As a buyer, this means you need to be pre-qualified and ready to act. This market will be tough, but it won’t be impossible.
Interest rates are also extremely low, so buyers right now have the opportunity to save thousands of dollars in interest payments. I suggest you lock in a low rate now!
Overall, we just need more homes on the market in Hoboken, and home buyers need to be pre-qualified for a mortgage and ready to act.
If you have any further questions, please don’t hesitate to contact me!
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