Q1 2022 Market Brief

Sales in Hudson County started off slow in the first quarter. We saw a 10% decrease in sales compared to Q4 2021 and a 1% increase compared to the year before. This may be due to a number of factors including the increase in mortgage rates and extremely low inventory leading to bidding wars. Unfortunately, the demand for more listings are not being supplied as fast as they were in 2021 which has lead to a 10% increase in prices. Although property values are rising, Hudson County continues to be a much more affordable option than New York City. It’s a great market for first time home buyers or for investors looking for income producing rental properties. Because it will take some time for housing supply to catch up to demand, experts predict home prices will continue rising. All the more reason to contact us today if you are in the market. As a seller, we have the tools you need to get top dollar for your home and will help you price your home to sell in today’s market. For buyers, we know what tactics to use to help you win those bidding wars!