Walter Burns
Happy New Year! With 2018 upon us, it’s time to begin making goals and plans for the new year. If you’ve been thinking about selling your Hudson County condo investment, this may be your year.
The first step to making sound goals is thorough research. Use this market report to learn more about the current state of the Hudson County condo market. We’ll break down the essentials of the current market with average sales values, prices per square foot, and information about particular condo properties.
In a market as phenomenal as Hudson County, we’ve been seeing conditions that continue to favor the seller.
Hoboken Real Estate Market Breakdown
December 2017 Condominium Sales Data
Average Sales Value: $801,875
Average Price/Sq. Foot: $727.63
Total Closed Condo Sales: 65
As a comparison, the average sales value increased nearly 6.03% over December 2016, and the average price per sq. foot saw a 4.67% increase from December 2016.
In December 2017, only 14 fewer condominiums were sold than the previous year — 79 Hoboken condos were sold in December 2016.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In December 2017, the average sales price to list price ratio was 100.2%, only 0.55% higher than a year ago in December 2016.
Downtown Jersey City Real Estate Market Breakdown
December 2017 Condominium Sales Data
Average Sales Value: $797,127
Average Price/Sq. Foot: $783.64
Total Closed Condo Sales: 67
As a comparison, the average sales value increased 9.69% since December 2016, and the average price per sq. foot saw a 6.54% increase from a year ago.
In December 2017, the total closed condo sales in Downtown Jersey City increased by 11 from a year ago, in December 2016.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In December 2017, the average list price to sales price ratio was 99.74, the same as last year.
Invest Wisely in Hudson County
2018 may just be the year for you if you’ve been thinking about selling your Hudson County condo. Low inventory and increasingly high demand have created the perfect sellers market.
Increasing demand over the past several years have made Hudson County a smart investment choice. If you’re interested in investing in Hudson County real estate, please reach out to us for more information.
Research the Market
Wise investors have to do a lot of research. Staying on top of the market is crucial to make smart investments. Save valuable time while researching the Hudson County condo market by requesting the monthly Living on the Hudson Sales Report. Every month, we’ll email you essential information about the market, including recent sales, days on the market statistics, and price per square feet information.
Trying to sell a condo in Hudson County? Request a comparative market analysis to see how much it’s worth in today’s market conditions.
Whether you’re buying or selling a condo in Hudson County, my team and I have the resources and expertise to assist. We’ll do everything we can to maximize the return on your investment.