Walter Burns
The Hudson County area is full of highly coveted luxury listings, which makes for a competitive real estate market. Staying posted on the latest real estate trends in the region can mean the difference between securing your dream property or missing out to the competition.
Entering the market with knowledge of current trends and statistics is vital in a successful selling and buying experience. Before you dive into real estate around the area, take a look at the current state of the Hudson County real estate market for the month of March, courtesy of the Living on the Hudson Team.
Hoboken Real Estate Breakdown
March 2019 Sales Data
Average Price/Sq. Foot: $727
Total Closed Condo Sales: 50
Since March 2018, the median sales value decreased 1.1%, and the average price per sq. foot saw a 1.18% decrease as well. The total closed condo sales decreased by about 30% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In March 2019, the average sales price to list price ratio was 98.13%, only around 0.78% lower than one year ago.
Downtown Jersey City Real Estate Breakdown
March 2019 Sales Data
Average Price/Sq. Foot: $733
Total Closed Condo Sales: 50
In the past year, the median sales value decreased by about 2.1% since last March, while the average price per sq. foot saw a 4.74% decrease. In March 2019, the total closed condo sales increased by about 85% 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 March 2019, the average list price to sales price ratio was 97.86%.
Ready to Invest in Hudson County Real Estate?
While the Hoboken market is running a little cooler than last year, Downtown Jersey City is picking up steam. As the weather keeps warming up, expect the market to do the same. Investing in a property in Jersey City or Hoboken now can mean major profits later.
Buying, selling, investing—whatever your goals are in the Downtown Jersey City or Hoboken area markets, trust in the Living on the Hudson Team to help. We offer years of experience, a vast amount of local market knowledge, and a number of helpful resources, ideal for making your real estate journey successful and stress-free.
Our Hudson County Condo Market Resources
If you’re still curious about Hudson County real estate trends, be sure to stay posted on our monthly market reports. For more information, browse our additional posts where we break down the top selling condos in each neighborhood and highlight some of the most popular communities. Find a condo building that sparks your interest? Take some time to visit our website for more information.
Feel free to let us know if you still have a few questions about local real estate by posting in the comments or reaching out to us at 347-448-3766.