Jersey City Condo Market Update May 2010

Below is the Jersey real estate market update for condominium sales for May 2010 in Downtown Jersey City. All information is gathered from the Hudson County Multiple Listing Service.

Active Downtown Jersey City Condos

• There are 362 Active Jersey City condos for sale with an average listing price of $502,635. Average days on the market: 99 Days

Since May 1st, 92 new Jersey City condos came on the market for sale with an average listing price of $551,956.

• Active Downtown Jersey City Studio Condos: 13 condos for sale with an average listing price of $311,900. 97 days on the market.
• Active Downtown Jersey City 1 Bedroom Condos: 146 condos for sale with an average listing price of $362,969. 102 days on the market.
• Active Downtown Jersey City 2 Bedroom Condos: 169 condos for sale with an average listing price of $542,047. 100 days on the market.
• Active Downtown Jersey City 3+ Bedroom Condos: 34 condos for sale with an average listing price of $979,399. 80 days on the market.

Pending Downtown Jersey City Condos

• There are 99 Downtown Jersey City condos under contract waiting to close with an average listing price of $466,168 Average days on the market: 90 Days. Final sales prices of these units will not be published until they close.

• Pending Downtown Jersey City Studio Condos: 1 condo under contract located at Montgomery Greene. List price: $250,000. 54 days on the market.
• Pending Downtown Jersey City 1 Bedroom Condos: 39 condos under contract an average listing price of $365,780. 98 days on the market.
• Pending Downtown Jersey City 2 Bedroom Condos: 50 condos under contract with an average listing price of $513,743. 91 days on the market.
• Pending Downtown Jersey City 3+ Bedroom Condos: 9 condos under contract with an average listing price of $660,888. 57 days on the market.

Sold Downtown Jersey City Condos 5/1/10 to 5/31/10

• 34 Downtown Jersey City condos sold between 5/1/10 & 5/31/10 with average listing price of $435,882. The average sales price of these sold Downtown Jersey City condos were $422,222. Average days on the market: 76 Days

• Sold Downtown Jersey City Studio Condos: 2 condos sold an average listing price of $229,949 and an averages sales price of $217,665. 76 days on the market.
• Sold Downtown Jersey City 1 Bedroom Condos: 11 condos sold an average listing price of $320,490 and an averages sales price of $315,909. 58 days on the market.
• Sold Downtown Jersey City 2 Bedroom Condos: 16 condos sold with an average listing price of $508,293 and an average sales price of $490,472. 94 days on the market.
• Sold Downtown Jersey City 3+ Bedroom Condos: 5 condos sold with an average listing price of $540,400 and an average sales price of $519,538. 58 days on the market.

Jersey City Waterfront Condo Update

Sold units since 5/16/10

• Shore Club: 15 Active condos, 8 units under contract, 1 condo sold.
• A Condominiums: 14 Active condos, 4 units under contract, 0 condos sold.
• Mandalay on the Hudson: 11 Active condos, 7 units under contract, 1 condo sold.
• Gulls Cove: 9 Active condos, 0 units under contract, 1 condo sold.
• Fulton’s Landing: 5 Active condos, 3 units under contract, 1 condo sold.
• James Monroe: 12 Active condos, 2 units under contract, 2 condos sold.
• Liberty Terrace: 6 Active condos, 3 units under contract, 1 condo sold.
• Liberty Harbor: 7 Active condos, 0 units under contract, 0 condos sold.
• Portofino: 9 Active condos, 3 units under contract, 1 condo sold.
• Pier House: 6 Active condos, 2 units under contract, 0 condos sold.
• 700 Grove: 13 Active condos, 4 units under contract, 2 condo sold.
• Montgomery Greene: 2 Active condos, 2 units under contract, 0 condos sold.
• Clermont Cove: 6 Active condo, 0 units under contract, 2 condos sold.
• Sugar House: 5 Active condos, 0 units under contract, 0 condos sold.
• Waldo Lofts: 6 Active condos, 2 units under contract, 0 condos sold.
• Zephyr Lofts: 9 Active condos, 1 unit under contract, 0 condos sold.

****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 Gulls Cove, 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 market update compares to last month’s, please visit the April 2010 Jersey City condo sales report.

If you have questions about a certain downtown Jersey City Condo buildings that are not on this list, feel free to contact me, Walter Burns or leave a comment. I will get back to you with the information.

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