Walter Burns
Have you been thinking of listing your Hudson County condominium? The market conditions are in your favor! Low inventory and high demand have created a seller’s market in Hudson County, which means sales prices are surging!
Whether you’re interested in buying or selling in Hudson County, analyzing current market trends is key to success. This market is very competitive, so it’s important to act quickly once you’ve made your decision!
Hoboken Real Estate Market Breakdown
July 2017 Condominium Sales Data
Average Sales Value: $818,820
Average Price/Sq. Foot: $735
Total Closed Condo Sales: 81
The average sales value increased approximately 6% over July 2016, and the average price per sq. foot saw an 8% increase over this time last year.
81 condominiums were sold in July 2017, which is a decrease over last year when 106 Hoboken condos were sold in July 2016.
Room for Negotiation: Little room for negotiation exists in the current market. In July 2017, the average sales price to list ratio was 99.9% which is 2.1% higher than July 2016.
Downtown Jersey City Real Estate Market Breakdown
July 2017 Condominium Sales Data
Average Sales Value: $779,889
Average Price/Sq. Foot: $768
Total Closed Condo Sales: 51
For comparison, the average sales value for a Jersey City condo increased 5% since July 2016, and the average price per sq. foot saw a 7% increase from this time last year.
51 condominiums were sold in Jersey City, which is a decrease from last year’s 80 condos sold.
Room for Negotiation: There is little room for negotiation in the Downtown Jersey City real estate market. In July 2017, the average listings ales price to list price ratio was 100.1%, which is a .3% increase from last year.
Now is the Time to Sell
The competitive seller’s market makes now the ideal time to list your Hudson County condo. The Hoboken and New Jersey real estate markets are hot, so your property is likely to sell over asking price if you list now.
My team and I are committed to maximizing your investment, so contact us if you’d like to get started!
List Your Hudson County Condo with the Experts
Whether you’re looking to invest in Hudson County real estate or sell your condo, my team and I are here to help. We are dedicated real estate professionals with comprehensive knowledge of the Hudson County market, so please reach out to us to chat about your goals.