The Hudson County Condo Market Continues to Impress

One of the first steps to making sound financial decisions in real estate is research. It’s important to know recent activity on the market before making a decision to invest or sell your condo.

If you’ve been thinking of selling your Hudson County condo, you should know that now is a great time for sellers. Low inventory and high demand continue to make Hudson County real estate competitive, making it a lucrative time to sell your condo.

Let’s look at some of the most recent condo sales statistics to get a better understanding of the current Hudson County real estate market.

Hoboken Real Estate Market Breakdown

August 2017 Condominium Sales Data

Average Sales Value: $866,163
Average Price/Sq. Foot: $741
Total Closed Condo Sales: 80

hoboken condo market report

As a comparison, the average sales value increased nearly 15% over August 2016, and the average price per sq. foot saw a 6% increase from August 2016.

In August 2017, 80 condominiums were sold – the same as August 2016.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In August 2017, the average sales price to list price ratio was 102%, only 3% higher than a year ago in August 2016.

Downtown Jersey City Real Estate Market Breakdown

August 2017 Condominium Sales Data

Average Sales Value: $794,032
Average Price/Sq. Foot: $780
Total Closed Condo Sales: 51

jersey city market report

As a comparison, the average sales value increased 11% since August 2016, and the average price per sq. foot saw a 3% increase from a year ago.

In August 2017, the total closed condo sales in Downtown Jersey City decreased by 55 from a year ago, in August 2016.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In August 2017, the average list price to sales price ratio was 98%, down from 102% a year ago.

Learn More About the Hudson County Condo Market

If you’re interested in receiving updates on the Hudson County condo market, including recent sales, days on the market stats, and price/sq. ft. information, sign up for 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.

Invest in the Hudson County Real Estate Market

researchInvesting in real estate is always a good decision, but investing in the Hudson County market is especially wise because of soaring property values. The first step to making a sound investment in any market is knowing about new and upcoming listings.

Be the first to hear about new condos on the market in the Hudson County area by creating a personal Property Organizer today.

Professional Real Estate Expertise

Any other questions about the Hudson County condo market? Please contact me and I can assist you with all of your real estate needs.

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