Walter Burns
The first step to wise investing? Proper market research. Luckily, we have just the thing you need: your monthly breakdown of the Hudson County real estate market!
It’s important to stay on top of the real estate market, which is why we offer this market report every month. If you’re planning on buying or selling a home in Hudson County, this report is a great way to get a feel for the current state of things.
Without further ado, here’s your market breakdown for July 2018:
Hoboken Real Estate Market Breakdown
July 2018 Condominium Sales Data
Average Sales Value: $867,297
Average Price/Sq. Foot: $741
Total Closed Condo Sales: 94
As a comparison, the average sales value increased nearly 9.42% over July 2017, and the average price per sq. foot saw a 2.18% increase from July 2017.
In July 2018, the total closed condo sales in Hoboken decreased by 4.44% from a year ago, in July 2017.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In July 2018, the average sales price to list price ratio was 99.34%, around 1.03% lower than a year ago in July 2017.
Downtown Jersey City Real Estate Market Breakdown
July 2018 Condominium Sales Data
Average Sales Value: $764,288
Average Price/Sq. Foot: $763
Total Closed Condo Sales: 52
As a comparison, the average sales value decreased 5.41% since July 2017, and the average price per sq. foot saw a 2.60% decrease from a year ago.
In July 2018, the total closed condo sales in Downtown Jersey City decreased by 13.33% from a year ago, in July 2017.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In July 2018, the average list price to sales price ratio was 98.51%.
An Easier Way to Keep Up with the Market
We want to make it as simple as possible for you to stay “in the know” in regards to the Hudson County real estate market. That’s why we highly recommend requesting the Living on the Hudson Sales Report.
If you’re serious about investing in or selling a condo in a community like Hoboken or Downtown Jersey City, this is exactly what you need to make a wise real estate decision. Every month, my team and I detail average sales value, days on market information, and everything else you need to know about the Hudson County condo market.
Now’s Your Time
Whether you’re a current homeowner, investor, or just started thinking about buying a condo in Hudson County, we have the resources to help. Now is an excellent time to join the ranks of other real estate investors in the area.
Especially considering the average value for a Downtown Jersey City condo is slightly lower than this time last year. Now is an excellent opportunity for buying a property in this highly sought-after community.
Thinking about selling your Hoboken condo? List it on the market! You can earn a bigger return on your investment by requesting a comparative market analysis for your condo today.