Walter Burns
Whether you’re buying, selling, or investing, knowing how the local market is changing is the key to success. Trends and sales data can vary dramatically on a month-to-month basis, and small details could make a major difference in your profit — especially in an active market like Hudson County.
Although the local market has seen a slight decrease lately, Hudson County real estate is still prime for your buying and investing needs. Take a look at how the market trends break down below for the month of November.
Hoboken Real Estate Market Breakdown
November 2018 Condominium Sales Data
Average Sales Value: $712,000
Average Price/Sq. Foot: $737
Total Closed Condo Sales: 69
As a comparison, the average sales value decreased nearly 1.1% over November 2017, and the average price per sq. foot saw a 1.2% increase from November 2017.
In November 2018, the total closed condo sales in Hoboken decreased by 8% from a year ago, in November 2017.
Room for negotiation: There is little room for negotiation in the Hoboken condominium real estate market. In November 2018, the average sales price to list price ratio was 98%, around 4% lower than a year ago in November 2017.
Downtown Jersey City Real Estate Market Breakdown
November 2018 Condominium Sales Data
Average Sales Value: $710,500
Average Price/Sq. Foot: $767
Total Closed Condo Sales: 48
As a comparison, the average sales value decreased 5.14% since November 2017, and the average price per sq. foot saw a 1.86% decrease from a year ago.
In November 2018, the total closed condo sales in Downtown Jersey City decreased by 15.5% from a year ago, in November 2017.
Room for negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In November 2018, the average list price to sales price ratio was 98.6%.
Stay Up-to-Date on Hudson County Real Estate
Are you looking to get involved with real estate in the area? Whether you’re an investor looking to turn a profit, a buyer searching for your dream home, or a seller wanting the best price for your property, knowing local trends makes a world of difference.
Hudson County remains one of the most highly sought-after markets in the area, with little room for negotiation. Knowing key statistics like the average sales value and closed sales percentage can put you a step ahead of competitors. We also recommend checking out the Living on the Hudson Sales Report for more selling, buying, and investing information.
By subscribing to this report, you’ll get exclusive access to all things Hudson County real estate — carefully calculated by me and my team. Take these numbers into consideration, and you’ll be better prepared to capitalize on the rewards that the Hudson County market offers.
Get Started on Your Real Estate Journey
Hoboken and Jersey City provide an ever-growing and changing real estate market, and there’s never a better time to jump in than right now. Whether you’re looking for your dream waterfront home or searching for a profitable personal investment, use these key numbers and trends to aid you in your real estate success.
If you’re in need of local experts to help you sell your Hudson County home, let my team help you list it on the market. We’ll make sure you get the maximum return on your investment by using resources like our comparative market analysis to accurately and competitively price your home.
Any questions? Don’t hesitate to call the local experts at Living on the Hudson, and we’ll be here to help through every step of your real estate experience.