valuation of downtown Jersey City, 3+ bedrooms

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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?