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Keller Williams City Life Realty

Living On The Hudson Market Newsletter – October 2013

What’s Happening in the Hudson County Real Estate Market?

Hudson County NJ real estate rising salesHoboken Real Estate Market Breakdown

  • How is the Hoboken market doing?
The median sales value for Hoboken condominiums sold in 2013 is $549,000. That’s a 16.80% increase from October 2012.
  • How much negotiating room is there?
The median last listing price to sales price ratio was 99.83%. That means the majority of Hoboken condo sellers are receiving offers very close to their asking price. There are many cases where properties are selling over the asking price in a multiple offer situations.
  • How does today’s market compare to the past few years?
When compared to the Hoboken real estate reports of the last seven years, the median sales value and average sales values of real estate in Hoboken are at their highest in 2013.
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Downtown Jersey City Real Estate Market Breakdown

  • How the market in Downtown Jersey City?

The median sales value for  Downtown Jersey City condominiums sold in 2013 is $499,000. That’s a12.13% increase from October 2012.

  • How much negotiating room is there?

The median last listing price to sales price ratio was 100%. Simply put, condos on average are selling for full price. There are many cases where properties are selling over the asking price in a multiple offer situations.

  • How does today’s market compare to the past few years?

When compared to the Downtown Jersey City real estate reports of the last seven years, the median sales value and average sales values of condominiums in Downtown Jersey City are at their highest in 2013.

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Additional Hudson Gold Coast Communities

  • How is the market in other Hudson River waterfront cities like Weehawken, West New York, North Bergen, Guttenberg, & Edgewater?

The amount of sales in those areas is significantly less than in Hoboken & Downtown Jersey City. The data pool is too small to provide accurate information. Year to date condo sales in Hoboken & Downtown Jersey City is 1,335 units compared to 250 units in the other areas.  If you have specific questions about the market in your neighborhood, please contact me and I will be happy to assist you further.

Data Source: Hudson County Multiple Listing Service

Selling My Hudson County Condo

If you’re planning to sell your Hudson County home soon, you’re on the right track. Researching the real estate market is always a good start. Find out how much your Hudson County condo is worth. Contact Walter today. Call 347-448-3766.