Walter Burns
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
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.