Get a Sneak Peek at the Latest Trends with This Month’s Market Report

With spring on the horizon, the Hudson County market is about to become a great deal more active than usual. After all, spring is one of the busiest times of the year for both buyers and sellers—and knowing the ins and outs of local real estate trends can put you a much-needed step ahead of the competition.

But before we look to future trends, it’s important to understand where the market currently stands. Take a look below at the current state of the Hudson County real estate market for the month of February. 

Hoboken Real Estate Breakdown

Hoboken condos stats for average sale value from February 2018 to February 2019

February 2019 Sales Data

Average Price/Sq. Foot: $735
Total Closed Condo Sales: 35

Since February 2018, the median sales value increased 0.5%, and the average price per sq. foot saw a 0.5% increase as well. The total closed condo sales decreased by about 35% from this time last year.

Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In February 2019, the average sales price to list price ratio was 98.6%, down 1.5% from one year ago.

Downtown Jersey City Real Estate Breakdown

February 2019 Sales Data

Average Price/Sq. Foot: $758
Total Closed Condo Sales: 39

In the past year, the median sales value increased by about 0.4%, while the average price per sq. foot saw a 2.7% decrease. In February 2019, the total closed condo sales increased by about 56% 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 February 2019, the average list price to sales price ratio was 98.1%., down 1.6% from one year ago.

Don’t Wait to Invest in Hudson County

With median sales values subtly trending higher than usual, there’s never been a better time to dive into Hudson County real estate. As the busy spring season rolls in soon, investing now can mean bigger profits later.

When it comes to real estate in Hoboken or Downtown Jersey City—whether you’re buying, selling, or investing—the Living on the Hudson Team is here to make your experience successful and stress-free.

Additional Hudson County Condo Market Resources

Looking for more info on Hudson County real estate? Keep up-to-date with our monthly market reports, and be sure to browse our other posts all about the highest selling condos in the area. For more in-depth information on specific condo buildings in Hudson County, take some time to visit our website.

Still have a few questions about local real estate? Feel free to let us know in the comments or reach out to us at 347-448-3766.

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter's mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results. Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Keller Williams City Life Realty. NJAR Circle of Excellence Sales Award, 2009-2018. Google

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