What the Current Market Activity Means for Your Condo Purchase or Sale

Staying up to date with Hudson County real estate market activity is always a good idea, especially if you’re planning to purchase a condo or sell your property in the near future. Not only do average sales value data, price per sq.ft. information, and total number of closed condo sales indicate local market conditions, these statistics can also help you understand what to expect during your real estate transaction.

Overall, average sales values for condominiums continue to increase in Hoboken and Downtown Jersey City.

Let’s unpack the latest sales data for a closer look at the Hudson County condominium market.

Hoboken Real Estate Market Breakdown

April 2018 Condominium Sales Data

Average Sales Value: $760,846
Average Price/Sq. Foot: $732.05
Total Closed Condo Sales: 75

As a comparison, the average sales value increased nearly 1.47% over April 2017, and the average price per sq. foot saw a 2.90% increase from April 2017.

In April 2018, the total closed condo sales in Hoboken decreased by 3.85% from a year ago, in April 2017.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In April 2018, the average sales price to list price ratio was 99.33%, around 0.67% higher than a year ago in April 2017.

Downtown Jersey City Real Estate Market Breakdown

April 2018 Condominium Sales Data

Average Sales Value: $783,014
Average Price/Sq. Foot: $766.03
Total Closed Condo Sales: 46

As a comparison, the average sales value increased 4.52% since April 2017, and the average price per sq. foot saw a 3.00% decrease from a year ago.

In April 2018, the total closed condo sales in Downtown Jersey City decreased by 9.80% from a year ago, in April 2017.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In April 2018, the average list price to sales price ratio was 99.51%.

Access Additional Hudson County Condominium Sales Data

The Pearl condominium building exterior viewed from outside the buildingWhether you’re buying or selling a condo in Hudson County, my team and I have the resources you need to make the best decisions.

Since the market for luxury condos varies drastically from building to building, why not see how much properties are selling for in communities around Hudson County? Access the latest sales data by requesting the Living On The Hudson Sales Report for the buildings that interest you.

Now’s the Time to Sell Your Condo

Take advantage of the rising sales values in the current market to earn top dollar for your Hudson County property. Get started by requesting a comparative market analysis for your condo, then list your condo with us to get the results you’re seeking.

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. Google

Condo Buying, Condo Selling, Hoboken Condos Market Update, Market Update, , ,