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𝐇𝐨𝐛𝐨𝐤𝐞𝐧 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 - https://www.homesbybonk.com/

Sales remain strong, rentals are on fire!

Today we're going to take a look at a couple of the headlines and then also some of the numbers.

𝐒𝐚𝐥𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐫𝐞𝐦𝐚𝐢𝐧𝐬 𝐡𝐨𝐭 𝐚𝐧𝐝 𝐬𝐭𝐫𝐨𝐧𝐠!

We're seeing very good contract price ratios. We're seeing very low inventory.

Looking at today's active inventory, which is how many properties are currently on the market, we currently have 208 active sales on the market in Hoboken. Last year at this time the same exact month, we had 410 on the market. We're almost at half of what we had last year, a sign that not a lot of sellers and not a lot of buyers are driving down the inventory.

Another way to look at how many houses are on the market and the strength of the market is, the ratio of how they're coming on, to how fast they're going off, and that's months of inventory and anything below three months is considered a very strong seller's market.

So what does this mean right?

Right now, we're poised to spring right through this next holiday season with the numbers and the statistics and the inventory we're looking at right now. If timing works for you now and you're waiting for spring because you think it might be a stronger market, take a second look at that and look at what's actually happening in the market.

If you're a buyer and you want to move. don't wait for that perfect house. That one that's a nine and eight out of ten might be the best shot you get in the next six months to move.


𝐓𝐡𝐞 𝐫𝐞𝐧𝐭𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐣𝐮𝐬𝐭 𝐥𝐢𝐤𝐞 𝐥𝐚𝐬𝐭 𝐦𝐨𝐧𝐭𝐡, 𝐚𝐛𝐬𝐨𝐥𝐮𝐭𝐞 𝐟𝐢𝐫𝐞!

We were talking about last month dropping into the double digits of active inventory. We are now in the 70 active rentals on the market at any given time so the market continues to move in that direction.

We're seeing a large influx of new people coming for rentals. For landlords, this means that Covid specials are over, there is no reason to be giving discounts and paying broker fees. Tenants understand that they got a super deep discount the first year around so they are willing to pay a fair market value for the most part now.

Tenants, try to renew your lease. If you're going to move to a new place, have all your ducks in a row. Were seeing two to four applications in the first weekend on almost every rental we put up in Hoboken.

If you're looking for a rental and struggling in Hoboken right now take a look at some of the adjacent markets there are a lot of good deals. Prices are definitely up a little bit and it's competitive, but there are a lot of nice places for a reasonable price.

If you have any questions about your specific situation, how this applies to you, how you should be game planning, feel free to reach out! Our team is always happy to have a personalized conversation with you and we hope you guys have a great November.

We'll see you on the other side of thanksgiving!


   • 𝐓𝐡𝐞 𝐇𝐨𝐛𝐨𝐤𝐞𝐧 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐬 𝐎𝐧 𝐅𝐈𝐑𝐄! 🔥🔥🔥  
   • 𝐇𝐨𝐛𝐨𝐤𝐞𝐧 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞! - Hobok...  
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