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Keller Williams City Life Realty

More Great News for Condo Buyers in Hoboken and Downtown Jersey City

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

infographic of Hoboken condo sales data

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

infographic of June 2016 Downtown Jersey City market data

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.

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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