Walter Burns
Highly sought-after luxury listings, a constantly changing market, tough competition—successfully buying and selling in Hudson County means staying up-to-date on all of the real estate trends.
Before you enter the Hudson County real estate market, you should take some time to complete in-depth research on current trends, like average listing price, number of sales closed, and how the market has changed since last year. Luckily, the Living on the Hudson Team provides a monthly market report to break things down for you—check out the numbers for April below.
Hoboken Real Estate Breakdown
April 2019 Sales Data
Average Price/Sq. Foot: $728
Total Closed Condo Sales: 75
Since April 2018, the median sales value increased 2.69%, and the average price per sq. foot saw a .73% decrease as well. The total closed condo sales decreased by about 6.25% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In April 2019, the average sales price to list price ratio was 97.8%, only around 1.05% lower than one year ago.
Downtown Jersey City Real Estate Breakdown
April 2019 Sales Data
Average Price/Sq. Foot: $724
Total Closed Condo Sales: 38
In the past year, the median sales value decreased by about 0.80% since last April, while the average price per sq. foot saw a 6.6% decrease. In April 2019, the total closed condo sales decreased by about 7.32% 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 April 2019, the average list price to sales price ratio was 98.03%. This is down almost 1% from a year ago.
Ready to Invest in Hudson County Real Estate?
Since real estate stats are trending a little lower than usual in both Hoboken and Jersey City, now is the perfect time to capitalize on the market. If you’ve been searching for a home or investment property in Hudson County, buying now, at a lower price, can mean increased returns on your investment later.
Whether you’re buying your dream home, looking to sell for top dollar, or in the market for an investment property, the Living on the Hudson Team is prepared to go the extra mile for your real estate goals. Our years of experience in the area, in-depth market knowledge, and wide network of resources make us well-equipped to navigate the ins, outs, and competition of Hudson County real estate.
Our Hudson County Condo Market Resources
Staying up-to-date on Hudson County real estate trends is crucial in a successful experience, which is why we offer market breakdowns every month. In addition to outlining the main statistics, we also provide info on top-selling condos in each neighborhood, as well as a rundown on a featured building. If you find a condo that sparks your interest during your search, then head to our website for more information.
Still have a few questions about local real estate? Don’t hesitate to let us know by posting in the comments or reaching out to us at 347-448-3766.