How Is Your Real Estate Investment Doing This Month?

It’s always a great idea to research current market data, especially if you’re considering selling your condominium. After all, today’s real estate market activity can help you learn what to expect during your own transaction.

Great news for Hudson County condominium owners: prices have increased since this time last year! If you own a condo in Hoboken or Downtown Jersey City, take a peek at the average sales values, price/sq. foot, and average sales price to list price ratio information below.

Hoboken Real Estate Market Breakdown

April 2017 Condo Sales Data

Average Sales Value: $759,681
Average Price/Sq. Foot: $749
Total Closed Condo Sales: 73

Hoboken condo sales in April 2017

As a comparison, the average sales value saw a 6% increase over April 2016, and the average price per sq. foot saw an 11% increase from April 2016.

Only 5 fewer condominiums were sold than last year — 78 Hoboken condos were sold in April 2016.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In April 2017, the average sales price to list price ratio was 99.9%, only 0.1% higher than a year ago in April 2016.

Downtown Jersey City Real Estate Market Breakdown

April 2017 Condo Sales Data

Average Sales Value: $749,047
Average Price/Sq. Foot: $749
Total Closed Condo Sales: 43

Jersey City condo sales in April 2017

As a comparison, the average sales value increased 7.3% since April 2016, and the average price per sq. foot increased 10% from a year ago.

In April 2017, the total closed condo sales in Downtown Jersey City decreased by 8 from a year ago, in April 2016.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In April 2017, the average list price to sales price ratio was 99.8%, up from 99.7% a year ago.

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.

Sell Faster and Higher with Walter Burns

discussing real estateIf you are considering selling your Hudson County condo, my team and I will do everything we can to maximize your investment. Learn how much your property is worth by requesting a Comparative Market Analysis or signing up for a confidential phone review. Contact us to get started.

Considering Purchasing a Hudson County Condo?

We will guide you through the competitive real estate market to find the property that fits your needs. Discover your next condominium with our easy-to-use search tool. If you want to be the first to hear about new condos on the market in the Hudson County area, create your personal Property Organizer and sign up for listing alerts for your favorite buildings.

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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