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Keller Williams City Life Realty

Time to Invest: Property Values Keep Rising in Hudson County

Hoboken and Downtown Jersey City’s condominium market is thriving. In last month’s real estate report, the average sales value for a condo in Hoboken was $718,288, and in Downtown Jersey City it was $705,420.

How does this month compare? Let’s take a look at the latest market statistics.

Hoboken Real Estate Market Breakdown

May 2016 Condominium Sales Data

Average Sales Value: $716,462
Average Price/Sq. Foot: $673
Total Closed Condo Sales: 112

infographic of condo sales value increase in hoboken

As a comparison, the average sales value increased nearly 13% over May 2015, and the average price per sq. foot increased 8%.

In May 2016, 112 condominiums were sold compared with the 100 condos sold this time last year.

Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In May 2016, the average sales price to list price ratio was 99.8%, the same from a year ago in May 2015.

Be the first to hear about new condos on the market in the Hudson County area! Create your personal Property Organizer today.

Downtown Jersey City Real Estate Market Breakdown

May 2016 Condominium Sales Data

Average Sales Value: $706,199
Average Price/Sq. Foot: $691
Total Closed Condo Sales: 77

infographic of downtown jersey city condo sales values

As a comparison, the average sales value saw a 12.6% increase and the average price per sq. foot saw an 11.3% increase from a year ago.

In May 2016, the total closed condo sales in Downtown Jersey City increased by 3 condos from a year ago, in May 2015.

Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. The average list price to sales price ratio was 99.7% in May 2016, up from 99.5% a year ago.

Make the Most of Your Investment

If you’re interested in investing in a Hudson County condo, access recent sales, days on the market stats, and price/sq. ft. information in the Living On the Hudson Sales Report.

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. 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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