Walter Burns
Happy Holidays! As a seasonal gift to yourself, why not take a look at the current real estate market in Hudson County. If you own a property in Hoboken or Jersey City, a pleasant surprise is waiting for you.
When it comes to investing in real estate, you can never do too much research. Our market reports are a great place to start, because they break down the current state of the market into the essentials. Learn average sales values, prices per square feet, and more.
In a market as competitive as Hudson County, it’s common to see conditions that favor the seller. Continue reading to learn more.
Hoboken Real Estate Market Breakdown
November 2017 Condominium Sales Data
Average Sales Value: $796,116
Average Price/Sq. Foot: $723
Total Closed Condo Sales: 80
As a comparison, the average sales value increased nearly 5.36% over November 2016, and the average price per sq. foot saw a 4.4% increase from November 2016.
In November 2017, 22 more condominiums were sold than the previous year — 58 Hoboken condos were sold in November 2016.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In November 2017, the average sales price to list price ratio was 100.2%, only 0.8% higher than a year ago in November 2016.
Downtown Jersey City Real Estate Market Breakdown
November 2017 Condominium Sales Data
Average Sales Value: $800,299
Average Price/Sq. Foot: $780
Total Closed Condo Sales: 67
As a comparison, the average sales value increased 10.69% since November 2016, and the average price per sq. foot saw a 6.3% increase from a year ago.
In November 2017, the total closed condo sales in Downtown Jersey City increased by 5 from a year ago, in November 2016.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In November 2017, the average list price to sales price ratio was 99.3%, up from 99.2% a year ago.
Smart Investments in Hudson County
If you’ve been waiting for the perfect time to sell your Hudson County investment, this is it! High demand and low inventory have created the ideal seller’s market, so it’s likely that your property could sell above asking price.
The steady increase in demand over the past few years have made Hudson County an excellent investment opportunity. Interested in learning more about investments in the area? Please reach out to us for more information.
Learn More About the Hudson County Market
Savvy investors do a lot of research to understand the market. Cut back on your research time by signing up for the Living On The Hudson Sales Report. Every month, we’ll email you key information about the condo market, including recent sales, days on the market stats, and price per square feet information.
Have a condo you’re trying to sell? Request a comparative market analysis to see how much it’s worth in today’s market. If you would prefer, we can also chat on the phone about your property.
Whether you’re buying or selling a condo in New Jersey, consider my team and I your go-to experts. We have a wealth of knowledge about the Hudson County Real Estate Market, and we will do everything we can to maximize your investment.
Eager to stay on top of the game? Create your personal Property Organizer today to receive alerts about new properties in the area before everyone else.