Walter Burns
Researching recent Hudson County condo sales is a smart move regardless of whether you’re buying a Hudson County condo or are selling your property. You can use recent sales data to learn whether property values are increasing and how much your Hoboken or Jersey City condo might be worth.
Here’s the latest market data for condos in Hoboken and Jersey City.
Hoboken Real Estate Market Breakdown
January 2017 Condominium Sales Data
Average Sales Value: $759,590
Average Price/Sq. Foot: $694
Total Closed Condo Sales: 64
As a comparison, the average sales value increased nearly 8.6% over the average sales value in January 2016, and the average price per sq. foot saw a 4% increase from last January.
In January 2017, there were only 2 more condos sold than the previous year — 62 Hoboken condos were sold in January 2016.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In January 2017, the average sales price to list price ratio was 99.7%, only .2% lower than a year ago in January 2016.
If you’re interested in the Hudson County condo market, access recent sales, days on the market stats, and price/sq. ft. information in the Living On the Hudson Sales Report.
Downtown Jersey City Real Estate Market Breakdown
January 2016 Condominium Sales Data
Average Sales Value: $731,107
Average Price/Sq. Foot: $736
Total Closed Condo Sales: 59
As a comparison, the average sales value increased 6.5% since January 2016, and the average price per sq. foot saw a 10% increase from a year ago.
In January 2017, the total closed condo sales in Downtown Jersey City increased by 9 from a year ago, in January 2017.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In January 2017, the average list price to sales price ratio was 99.8%, up from 99.7% a year ago.
Keep Yourself Informed and Ahead of the Market
Want to see how the value of your own condo stacks up with others on the market? Request a Comparative Market Analysis today or sign up for a confidential phone review. If 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.
Be the first to hear about new condos on the market in the Hudson County area! Create your personal Property Organizer today.
Thinking of Moving to the Suburbs?
If you’re interested in a little more elbow room both in terms of spacious homes and open space, I’d be happy to help you find your ideal home in the suburbs. Visit my new site MovingtotheSuburbs.com for detailed information about the top towns in Bergen, Essex, and Union Counties, from Allendale to Westfield.