With a prime location, luxury listings, and easy access to the city, Hudson County boasts one of the most active housing markets in the region. If you’re looking to jump into real estate in the area — whether it’s buying, selling, or investing — it’s vital to understand the latest trends.
Luckily, we’ve broken down all of the latest numbers for you. Take a look below at the current state of the Hudson County real estate market.
Hoboken Real Estate Breakdown
January 2019 Sales Data
Average Price/Sq. Foot: $736
Total Closed Condo Sales: 51
Since January 2018, the median sales value did not decrease, and the average price per sq. foot saw a .83% increase as well. The total closed condo sales decreased by about 10.53% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In January 2019, the average sales price to list price ratio was 98.6%. That is 1.65% lower than a year ago.
Downtown Jersey City Real Estate Breakdown
January 2019 Sales Data
Average Price/Sq. Foot: $761
Total Closed Condo Sales: 34
In the past year, the median sales value increased by about .087% and the average price per sq. foot saw a 2.5% decrease as well. The total closed condo sales decreased by about 24.44% from this time last year.
Room for Negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In January 2019, the average list price to sales price ratio was 98.2%.
Now is the Time to Invest in Hudson County
With property values subtly trending lower than usual, there’s never been a better time than now to dive into Hudson County real estate. Whether you’re buying, selling, or investing in a property in Hoboken or Downtown Jersey City, the Living on the Hudson Team is here to make your transition successful and stress-free.
Other Hudson County Condo Market Resources
Looking for more info on Hudson County real estate? Stay posted with our monthly market updates, and don’t forget to check out our post on the highest selling condos in the neighborhood. Additionally, you can find specific information about condo buildings in Hudson County on our website.
Have a specific question about the market we haven’t answered yet? Feel free to let us know in the comment or reach out to us at 347-448-3766.