Walter Burns
If you have been considering buying a condo in Hudson County, now is the time to do so. The market is doing remarkably well.
Average sales values have continued to climb, and there is little room for negotiation at closing. Let’s take a look at the most recent sales statistics for Hoboken and Downtown Jersey City condominiums.
Hoboken Real Estate Market Breakdown
June 2016 Condominium Sales Data
Average Sales Value: $717,328
Average Price/Sq. Foot: $673
Total Closed Condo Sales: 112
As a comparison, the average sales value increased 11% over June 2015. The average price per sq. foot increased 6%.
In June 2016, there were 12 more condo sales than in the previous year.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In June 2016, the average sales price to list price ratio was 99.8%, only 0.1% lower than a year ago in June 2015.
Thinking of investing in a condo in Hoboken? You can access the most up-to-date real estate information, including recent sales, days on the market info, & price/sq.ft. data, from the Living On The Hudson Condo Sales Report.
Downtown Jersey City Real Estate Market Breakdown
June 2016 Condominium Sales Data
Average Sales Value: $720,263
Average Price/Sq. Foot: $704
Total Closed Condo Sales: 70
As a comparison, there was a 16.3% increase in the average sales value and a 13.7% increase in the average price per sq. foot for Downtown Jersey City condos over June 2015.
The total closed condo sales in Downtown Jersey City decreased by 18 from a year ago.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condo market. In June 2016, the average list price to sales price ratio was 99.6%, up from 99.4% a year ago.
Don’t miss out when a new property comes on the market in Hoboken or Downtown Jersey City. Easily find your ideal condo by browsing the Luxury Condo Gallery and saving alerts for your favorite buildings.
We Can Help Maximize Your Return
A condo in Hudson County is a worthwhile investment. If you have been thinking about purchasing a condo in Hoboken or Downtown Jersey City, now is the time to act.
Contact me, your Hudson County real estate expert, and my team and I will do everything we can to maximize your investment.