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Sales Values Have Increased — How is Your Investment Doing?

Whether you are interested in selling your Hudson County condo or are simply curious about how your investment is doing, researching current real estate conditions is the best place to start.

In Hoboken and Jersey City, condominiums are often selling close to list price. As we saw in last month’s Hudson County market report, Hoboken condos sold for $727,648 on average and Downtown Jersey City condos sold for $723,171 on average. This month, sales values have again increased.

Hoboken Real Estate Market Breakdown

August 2016 Condominium Sales Data

Average Sales Value: $725,636
Average Price/Sq. Foot: $678
Total Closed Condo Sales: 89

August 2016 condo sales in Hoboken, NJ

Over August 2015, there was an 8.3% increase in the average sales value for Hoboken condos and a 5% increase in the average price per sq. foot.

In August 2016, only 89 condominiums were sold in Hoboken, compared with the 107 condos sold in Hoboken in August 2015.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In August 2016, the average sales price to list price ratio was 99.6%. This time last year, the average sales price to list price ratio for Hoboken condos was 99.9%.

Do you want to be first to know about new properties as they come on the market? Sign up for listing alerts for your favorite Hudson County condo buildings. Browse the Luxury Condo Gallery to get started.

Downtown Jersey City Real Estate Market Breakdown

August 2016 Condominium Sales Data

Average Sales Value: $725,925
Average Price/Sq. Foot: $720
Total Closed Condo Sales: 116

Jersey City condo sales data

The average sales value increased 14.7% over August 2015 for Downtown Jersey City condos. The average price per sq. foot increased 14.2%.

The total closed condo sales in Downtown Jersey City increased from 75 sales in August 2015 to 116 sales in August 2016.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. The average list price to sales price ratio was 99.6% in August 2016, a slight decrease from 99.7% in August 2015.

Are you interested in investing in a Hudson County condo? Want to know days on the market stats and price/sq. ft. information for a specific condominium building? Access recent sales in the Living On The Hudson Sales Report.

How Much is Your Hudson County Condo Worth?

Learn today’s market value of your home by requesting a Comparative Market Analysis today or signing up for a confidential phone review. If you’re considering selling your property, contact me, your Hudson County real estate expert, and my team and I will do everything we can to maximize your investment.

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter’s mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results.

Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Weichert Realtors, the largest privately owned real estate firm in the world.

NJAR Circle of Excellence Sales Award, 2009, 2010, 2011.

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