Signs of a Sellers' Market in Downtown Jersey City and Hoboken

The Hudson Realty Group has released their first half of 2013 Hoboken and Downtown Jersey City real estate market report which contains more positive signs for sellers, in particular the "fiercely competitive bidding environment" as a result of the low inventory of available homes for sale: Of the 430 condos closed in Hoboken during the first half of 2013, an astonishing 47% sold at or above the asking price, narrowing the average discount from asking to under 1%. Downtown Jersey City experienced a similar market with 39% of condos selling at or over asking. Metro NJ Real Estate Market Report Hoboken and Downtown Jersey City 1H 2013 Hudson Realty Group, Halstead Property This sentiment is also reflected a recent New York Times article, The ‘Shift the Goalpost’ Home Sale, about a growing trend where sellers renegotiate an accepted offer as they continue to receive higher and higher offers.