Start Your New Year Right by Staying Up to Date on Hudson County

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

Infographic on Hoboken Condo Market for December 2017. Average Sales Value: $801, 875 (6.03% increase over 2016) Closed Sales: 79

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

Infographic on Jersey City Condo Market for December 2017. Average Sales Value: $797,127 (9.69% increase over 2016) Closed Sales: 67

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

Woman typing on a laptop.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.

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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