Jersey City Condo Market Update August 2009
The Condos at 77 Hudson
With Summer almost behind us, here is the Jersey City condo market update for condos for sale in Downtown Jersey City. Data is compiled from the Hudson County Multiple Listing Service.
Active Downtown Jersey City Condos
- Currently there are 326 Active downtown Jersey City condos for sale. The average listing price is $511,145 spending an average of 109 days on the market. Since August 1, 2009, 64 condos in downtown Jersey City came on the market for sale. The average listing price of these new listings is $438,428.
Pending Downtown Jersey City Condos
- There are 87 downtown Jersey City condos currently under contract waiting to close. The average listing price of these under contract properties is $408,900 spending an average of 97 days on the market. ***Please note: We will not know what they downtown Jersey City condos sold for until they actually close. Only then will sales prices be published.
Sold Downtown Jersey City Condos
- Since August 1, 2009, 35 Downtown Jersey City condos sold with an average listing price of $463,762. The average sales price was $443,181 spending an average of 101 days on the market.
Expired Downtown Jersey City Condos
- These are downtown Jersey City condos listed for sale with a Realtor and did not selling during the term of the listing agreement. There were a total of 45 expired downtown Jersey City condos in the past 30 days. The average listing price was $598,451 spending an average of 169 days on the market.
Downtown Jersey City Waterfront Market Update
- Shore Club: 16 Active condos, 5 units under contract, 3 condos closed since August 1.
- A Condominiums: 6 Active condos, 3 units under contract, 1 condo closed since August 1.
- Mandalay on the Hudson: 14 Active condos, 2 units under contract, 1 condo closed since August 1.
- Gulls Cove: 8 Active condos, 2 units under contract, 1 condo closed since August 1.
- Fulton’s Landing: 5 Active condos, 5 units under contract, 1 condo closed since August 1.
- James Monroe: 14 Active condos, 0 units under contract, 2 condos closed since August 1.
- Liberty Terrace: 4 Active condos, 1 unit under contract, 0 condos closed since August 1.
- Portofino: 9 Active condos, 3 units under contract, 4 condos closed since August 1.
- Pier House: 8 Active condos, 1 unit under contract, 0 condos closed since August 1.
- 700 Grove: 7 Active condos, 2 units under contract, 2 condos closed since August 1.
- Montgomery Greene: 8 Active condos, 1 unit under contract, 0 condos closed since August 1.
- Clermont Cove: 4 Active condos, 1 unit under contract, 0 condos closed since August 1.
- Liberty Harbor: 7 Active condos, 1 unit under contract, 0 condos closed since August 1.
- Sugar House: 2 Active condos, 0 units under contract, 1 condo closed since August 1.
****The above data may not reflect all of the units that may be available or that have sold in downtown Jersey City. Inside sales offices in new construction downtown Jersey City condo buildings like Trump Plaza, Crystal Point and 77 Hudson do not list and report all of their sales through the Hudson County MLS.
To see how this month’s Jersey City condo market update compares to last month’s, please visit the July 2009 Jersey City condo market update.
If you have any questions about this market update, please feel free to contact me.
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September 8th, 2009 at 12:04 am
Do you have any data on waldo lofts? the condo building at 159 2nd street?
September 8th, 2009 at 8:08 am
There are currently 9 available condos for sale at the Waldo Lofts. 1 condo is under contract waiting to close. No condos have sold/closed since August 1, 2009.
September 8th, 2009 at 8:06 pm
do you have any data on trump plaza 88 morgan? have there been any recent sales?
September 8th, 2009 at 8:53 pm
It’s hard data to come across because the inside sales company does not publish most of the data in the MLS. I’m trying to see what I can undercover and when I do find something out, I will post it on this site.
I can tell you that in the Hudson County MLS 2 units are under contract and 0 have closed since 8/1/09, but that it not a true reflection of what the sales office may have put into contract or sold.
September 18th, 2009 at 8:21 pm
Why would you list 700 Grove but not Zephyr Lofts or Waldo Lofts in these reports? Just curious as to why they (and other buildings?) are left out?
September 19th, 2009 at 10:02 am
Betty,
Thank you for taking the time to comment. Zephyr Lofts & Waldo Lofts weren’t purposely left off the post. There are dozens of buildings which I didn’t include in this update. I can’t post every building in downtown Jersey City simply because of time. If someone wants an update on a specific building, they are always free to comment or email me directly. The data for Waldo Lofts is in a previous comment below.
Here is the data for Zephyr Lofts.
4 Active condos
3 Under contract
1 Sold since 8/1/09 (Unit 210, 4 bed, 2 bath, 1800 sq.ft. sold for $420,000.)
September 30th, 2009 at 1:12 pm
What is the latest price on a 2 bedroom apt at the Crystal Point? Someone just mentioned that prices came down. Is that true? What is their sales rate? Is that increasing? Are they looking at slashing down their prices? I find them too pricey!!!
October 1st, 2009 at 9:15 pm
2 bedroom condos at Crystal Point range from $895,000 to $1,465,000. According to the sales center they are about 30% under contract and had about 12 units go under contract in the past week. I haven’t seen dramatic price reductions at Crystal Point recently.
October 2nd, 2009 at 4:46 pm
[...] To see how this month’s Jersey City condo market update compares to last month’s, please visit the September 2009 Jersey City condo market update. [...]