Hoboken Homes for Sale

In September 2024, Hoboken's real estate market saw a significant surge, with home prices rising by 18.4% year-over-year, bringing the median price to $935,000. Homes in the area are selling faster as well, with the average time on the market dropping to 23 days from 31 days in the previous year. However, despite rising prices and quicker sales, the number of transactions has declined, with only 37 homes sold this September compared to 53 a year ago. The price per square foot has also seen a modest increase, now at $841, up 0.8% from last year. This data suggests that while demand for homes in Hoboken remains strong, inventory constraints or affordability challenges may be influencing the drop in sales volume.

Hoboken’s real estate market is highly competitive, with homes typically selling in just 22 days. Many properties attract multiple offers, often with buyers waiving contingencies to strengthen their bids. On average, homes sell for around 1% above the listing price and go under contract within 22 days. For especially sought-after homes, the competition is even fiercer—these "hot" properties can sell for up to 4% above the asking price and go pending in as little as 12 days. This level of demand highlights Hoboken’s appeal and the intense buyer interest in the area.

Nationwide, 3% of homebuyers are looking to relocate to Hoboken from other metropolitan areas. Among these prospective buyers, those from Gainesville show the greatest interest in moving to Hoboken, followed closely by homebuyers from Visalia and Sheboygan. This trend reflects Hoboken’s growing appeal as a desirable destination for people seeking a vibrant urban lifestyle, likely drawn by its proximity to New York City, waterfront views, and thriving community atmosphere.