If you’re looking to invest in local real estate or sell your Hudson County condominium, it’s vital to be informed on real estate activity in the area. Trends can quickly and unpredictably change from month-to-month, and it’s best to go into the market with a strong idea of what’s happening.
Whether your goal is to buy, sell, or invest, the market in Hudson County is prime for a variety of real estate transactions. We’ve broken down some of the numbers for the month of October below, so take a look to gain a better understanding of how the local market has been fairing.
Hoboken Real Estate Market Breakdown
October 2018 Condominium Sales Data
Average Sales Value: $854,772
Average Price/Sq. Foot: $739
Total Closed Condo Sales: 61
As a comparison, the average sales value increased 6.49% over October 2017, and the average price per sq. foot saw a 1.28% increase from October 2017.
In October 2018, the total closed condo sales in Hoboken decreased by 15.28% from a year ago, in October 2017.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In October 2018, the average sales price to list price ratio was 97.12%. It was about 102.49% a year ago.
Downtown Jersey City Real Estate Market Breakdown
October 2018 Condominium Sales Data
Average Sales Value: $787,595
Average Price/Sq. Foot: $774
Total Closed Condo Sales: 35
As a comparison, the average sales value decreased 2.2% since October 2017, and the average price per sq. foot saw a 0.76% increase from a year ago.
In October 2018, the total closed condo sales in Downtown Jersey City decreased b y27.08% from a year ago, in October 2017.
Room for negotiation: There is a little more room for negotiation in the Downtown Jersey City condominium real estate market than in October 2017. In October 2018, the average list price to sales price ratio was 98.32%. One year ago it was 99.8%.
Keep up with Local Trends
Are you interested in jumping in to the Hudson County real estate market? No matter what capacity you may be involved in — from an investor, to a casual seller, to a serious buyer — staying up to date with the latest trends increases your chances of major savings and major profits.
Hudson County is a highly-sought after market with little room for negotiating. Knowing the statistics and numbers that dictate the market can put you a step ahead of competitors. If you’re interested in further pursuing the Hudson County real estate market, we highly recommend subscribing to the monthly Living on the Hudson Sales Report.
When you subscribe to this report, you’ll be given exclusive access to the data and statistics that my team and I calculate every month. By studying these trends, you’ll be ready for all the challenges and rewards that the Hudson County real estate market has to offer.
Embark on Your Real Estate Journey
The Hoboken and Jersey City real estate market is constantly growing and changing, and there’s never been a better time to jump in. From finding a new home to taking advantage of a profitable investment opportunity, you can find whatever property you’re searching within the active and ever-fluctuating market in Hudson County.
Are you in the market to sell your Hoboken Condo? Let my team help you list it on the market. In order to maximize the return on your investment, make sure you request a comparative market analysis for your condo.
If you have any questions or would like more information, don’t hesitate to contact us with any questions during your real estate journey.