Let’s Check Up on the Hudson County Real Estate Market

Every month, we like to provide a detailed market report for the Hudson County real estate market. After all, the first step to a successful investment in Hudson County is research!

It’s important to know how the market is doing before making any big decisions with buying or selling a property here. To streamline your research, here’s everything you need to know about the Hudson County real estate market.

Hoboken Real Estate Market Breakdown

August 2018 Condominium Sales Data

Average Sales Value: $862,445
Average Price/Sq. Foot: $741
Total Closed Condo Sales: 93

As a comparison, the average sales value decreased nearly 1.63% over August 2017, and the average price per sq. foot saw a 1.39% increase from August 2017.

In August 2018, the total closed condo sales in Hoboken decreased by 1.06% from a year ago, in August 2017.

Room for negotiation: There is more room for negotiation in the Hoboken condominium real estate market. In August 2018, the average sales price to list price ratio was 97.71%, around 2.02% lower than a year ago in August 2017.

Downtown Jersey City Real Estate Market Breakdown

August 2018 Condominium Sales Data

Average Sales Value: $869,170
Average Price/Sq. Foot: $780
Total Closed Condo Sales: 57

As a comparison, the average sales value decreased 1% since August 2017, and the average price per sq. foot was flat from a year ago.

In August 2018, the total closed condo sales in Downtown Jersey City decreased by 12% from a year ago, in August 2017.

Room for negotiation: Similarly, there is more room for negotiation in the Downtown Jersey City condominium real estate market. In August 2018, the average list price to sales price ratio was 97.85%.

Keep Up With Your Neighbors

When you’re a Hudson County real estate investor, it’s important to stay in the know. The “investor” title extends to homeowner as well. Whenever you own real estate, it’s crucial to have a solid working knowledge of what that means in your area.

For Hudson County, it’s always a good thing. This is a highly competitive real estate market, making any time a great time to invest in Hudson County. If you’re eager to stay on top of the real estate market here, we highly recommend requesting the monthly Living on the Hudson Sales Report.

Every month, my team and I detail average sales value, days on market information, and everything else you need to know about the Hudson County condo market.

Your Ideal Time

Everyone’s timeline is different, but now is an excellent time to take advantage of the Hudson County real estate market! Invest in your future by investing in Hoboken or Jersey City real estate. In the long run, your investment is sure to pay off big time.

Thinking about selling your Hoboken condo? List it on the market! You can earn a bigger return on your investment by requesting a comparative market analysis for your condo today.

 

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

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