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Keller Williams City Life Realty

Why Every Buyer Should Invest in a Hudson County Condo

Today’s condo owners and investors in Hoboken and Downtown Jersey City are reaping the rewards of the hot real estate market. Sales prices have increased since last month and last year; in the March 2016 condo market update, the average sales value for Hoboken condos was $710,602 and the average sales value for Downtown Jersey City condos was $692,709.

If you are thinking about investing in a condo in Hudson County, now is the time to do so. Let’s see what the current market conditions look like in Hoboken and Downtown Jersey City.

Hoboken Real Estate Market Breakdown

April 2016 Condominium Sales Data

Average Sales Value: $718,288
Average Price/Sq. Foot: $672
Total Closed Condo Sales: 75

a chart with average condo sale values in Hoboken

For Hoboken condos, the average sales value increased nearly 15% and the average price per sq. foot increased 9.2% over April 2015.

21 fewer condominiums were sold this year, compared with 96 condos that were sold last year.

Room for negotiation: There is still little room for negotiation in the Hoboken condo market. In April 2016, the average sales price to list price ratio was 99.8%, the same from a year ago.

If you are interested in the most up-to-date Hudson County condo sales, you can access information that includes recent sales, days on market, and price per square foot data from the Living On The Hudson Condo Sales Report.

Downtown Jersey City Real Estate Market Breakdown

April 2016 Condominium Sales Data

Average Sales Value: $705,420
Average Price/Sq. Foot: $688
Total Closed Condo Sales: 49

an infographic with April 2016 Downtown Jersey City condo sales data

If we compare this year’s Downtown Jersey City sales data with last year’s, the average sales value increased 13.9% and the average price per sq. foot increased 11%.

In April 2016, the total closed condo sales in Downtown Jersey City decreased by 16 from a year ago.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market due to low supply and high demand. In April 2016, the average list price to sales price ratio was 99.7%, up from 99.1% in April 2015.

Make the Most of Your Investment in Hudson County

For sellers, today’s market may allow you to sell your Hoboken or Downtown Jersey City condo quickly and for top dollar. To see how much your Hudson County condo is worth in today’s market, request a Comparative Market Analysis today or sign up for a confidential phone review.

For buyers, investing in a condominium in Hudson County is a great way to earn a high return when you sell. Explore available listings by browsing the Luxury Condo Gallery, and be first to hear about new condos on the market by creating your personal Property Organizer account.

Whether you’re considering buying or selling property in New Jersey, contact me, your Hudson County real estate expert, and my team and I will do everything we can to maximize 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 Keller Williams City Life Realty. NJAR Circle of Excellence Sales Award, 2009-2018. Google

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