valuation of downtown Jersey City, 3+ bedrooms

[Account Closed]

Seems like any 3 bedroom hitting the market in downtown Jersey City starts at 1 million, and goes up from there. We saw a listing for a 'rare' SFH brownstone that just hit the MLS at 900K, with a backyard and parking. My husband thinks it's a fair price and would continue to appreciate, but I have my doubts. I wonder if we're nearing or at the peak, or is this just a shortage of available inventory, particularly of 3+ bedrooms?

[Diana Tian]

Hi Jennie, in my openion it's a shortage of inventory, there aren't too many 3 bedroom Condos or SFM. And the supply won't increase either in the future. 

The price would continue to appreciate till we hit Brooklyn level prices. The fundemantal drivers behind the appreciation of downtown JC is still intact.