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In August 2023, the Weehawken housing market displayed several key trends worth noting. The median sale price for homes in the area rose to $925,000, marking a 6.3% increase compared to the same month last year. Additionally, homes are selling more quickly, with an average market duration of 49 days, a decrease from the 68-day average of the previous year. However, the volume of home sales has declined, with 51 homes sold this August as opposed to 69 during the same period last year. These observations suggest a complex market landscape. The increase in median home prices and the faster sales cycle could be indicative of heightened demand and a seller's market. Yet, the drop in the number of homes sold may signal caution among buyers or a potential decrease in available inventory. These contrasting trends warrant further analysis to fully understand the underlying market dynamics.
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With an insider’s view of the market, we know where to find properties that match your wish list and lifestyle. When it’s time to sell, Hudson Realty Group’s comprehensive marketing and organizational expertise help price your property for maximum financial return.