NEW JERSEY MARKET REPORT 2014- 2016
Jersey City’s real estate market proceeds to grow with more activity, spanning from 2014 to 2016. With higher demand boosting sales each year, prices are driven up by sellers of both cooperatives and condominiums in the market. They are especially motivated as home buyers choose to move to homes that are more affordable than New York homes, but are still close to Manhattan where many of these buyers commute to work. This is also true for businesses that plan to relocate their offices as Jersey City increases its commercialization efforts while providing less expensive office space. While sales performance improves, the inventory volume has maintained close levels over the years while still offering a healthy amount of supply for the market which continues to purchase more of its housing options.