Hudson County Condominium Market Breakdown

Hoboken Real Estate Market Breakdown

Condominiums in Hoboken and Downtown Jersey City are becoming increasingly desirable, driven by an attraction to luxurious options, proximity to New York City, and an ever-expanding array of local dining, shopping, and entertainment possibilities.

The real estate market for these Hudson County communities have an extremely positive outlook for both buyers and sellers. If you’re considering purchasing or selling a condominium in Hoboken or Jersey City, it’s important to stay informed. Let’s take a look at how the real estate market and your investment fared early this year.

January 2015 Hoboken Condominium Sales Data

Average Sales Value: $608,013
Average Price/Sq. Foot: $599
Total Closed Condo Sales: 60

As a comparison, the average sales value increased nearly 4.33% over January 2014, and the average price per sq. foot saw a 9.4% increase from January 2014.

In January 2015, only one more condominium was sold than the previous year – 59 Hoboken condos were sold in January 2014.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In January 2015, the average list price to sales price ratio was 99.74%, only 0.7% higher than a year ago in January 2014.

Downtown Jersey City Real Estate Market Breakdown

January 2015 Downtown Jersey City Condominium Sales Data

Average Sales Value: $594,682
Average Price/Sq. Foot: $597
Total Closed Condo Sales: 57

As a comparison, the average sales value increased 10% since January 2014, and the average price per sq. foot saw a 13.4% increase from a year ago.

In January 2015, the total closed condo sales in Downtown Jersey City increased by 19% from a year ago, in January 2014.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In January 2015, the average list price to sales price ratio was 99.1%, up from 97% a year ago.

If you’re curious about the overall Hudson County condo market in the last year, you can find a breakdown of the 2014 condo market in our 2014 Hudson County Real Estate Market Report.

Wise Investments in the Hudson County Condo Market

Investing in Hudson County real estate can be an extremely profitable venture. If you’re planning to sell your Hudson County property anytime in the near future, or you’re simply curious about how your investment is doing, you’re on the right track. Researching and monitoring the local real estate market is a great place to start. If you’re interested in the Hudson County condo market, access recent sales, days on the market stats, and price/sq. ft. information in the Living On the Hudson Sales Report.

To see how much your Hudson County condo is worth in today’s market, request a Comparative Market Analysis today or sign up for a confidential phone review. If you’re considering buying or selling property in New Jersey, contact me, your Hudson County real estate expert, and my team and I will do everything we can to maximize your investment.

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