Walter Burns
Have you decided what your real estate plans for 2018 are?
If you’ve been thinking about selling your Hoboken or Jersey City condo, you’re in for a pleasant surprise! The market is doing very well right now, making it an excellent time to list your Hudson County condo.
As always, when it comes to real estate you can never do too much research. That’s why we create a Hudson County condo market report every month. Let’s catch up on the local real estate market in Hudson County.
Hoboken Real Estate Market Breakdown
January 2018 Condominium Sales Data
Average Sales Value: $801,258
Average Price/Sq. Foot: $729.88
Total Closed Condo Sales: 49
As a comparison, the average sales value increased nearly 5.85% over January 2017, and the average price per sq. foot saw a 5.21% increase from January 2017.
In December 2017, only 2 fewer condominiums were sold than the previous year — 41 Hoboken condos were sold in January 2017.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In January 2018, the average sales price to list price ratio was 100.3%, around 0.58% higher than a year ago in January 2017.
Downtown Jersey City Real Estate Market Breakdown
January 2018 Condominium Sales Data
Average Sales Value: $797,594
Average Price/Sq. Foot: $779.22
Total Closed Condo Sales: 45
As a comparison, the average sales value increased 9.39% since January 2017, and the average price per sq. foot saw a 5.91% increase from a year ago.
In January 2018, the total closed condo sales in Downtown Jersey City decreased by 1 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 2018, the average list price to sales price ratio was 99.6%, only .03% higher than last year.
Invest Wisely in Hudson County
Have you been thinking about listing your Hudson County condo on the market? 2018 may just be your year! In fact, now (February-March) is one of the best times to try to sell your home because buyers are more serious about it.
Plus, low inventory and increasingly high demand have created the perfect sellers market in Hoboken and Downtown Jersey City.
Demand for Hudson County real estate only continues to increase! That makes the area a phenomenal choice for investors. If you’re interested in investing in Hudson County, please give us a call to discuss.
Research the Market
Part of being a smart investor is doing your research. It’s important to stay on top of current market trends in order to invest wisely in the area. Save time while researching the Hudson County condo market by requesting our monthly Living on the Hudson Sales Report. Every month, we’ll email you with essential information about the market, including recent sales, days on market, and price per square feet information.
If you’re trying to sell your Hudson County condo, please reach out to us! Request a comparative market analysis to find out the best price for your Hoboken or Jersey City condo.
Whether you’re buying or selling a condo in Hudson County, my team and I have the resources and expertise to assist. We’ll do everything we can to maximize the return on your investment.