With home values more than twice the national average, the Hudson County real estate market is one of the most active and competitive in the country. From scenic high-rises to historic condos, the properties here are the height of highly sought-after luxury living.
When entering a market as dynamic as Hudson County’s, being prepared is the key to getting a step ahead of the competition. That’s why our team provides a breakdown of the most important numbers and statistics every month. From the averages sales price to the total closed sales, check out the numbers for May below, and see how the Hudson County real market has changed since last year.
Hoboken Real Estate Breakdown
May 2019 Sales Data
Average Price/Sq. Foot: $741
Total Closed Condo Sales: 94
Since May 2018, the median sales value increased 3.05%, and the average price per sq. foot saw a .81% decrease as well. The total closed condo sales increased by about 9.30% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In May, the average sales price to list price ratio was 97.83%, only around 1.18% lower than one year ago.
Downtown Jersey City Real Estate Breakdown
May 2019 Sales Data
Average Price/Sq. Foot: $783
Total Closed Condo Sales: 45
In the past year, the median sales value increased by about 0.53% since last May, while the average price per sq. foot saw a 1.22% decrease. In May 2019, the total closed condo sales decreased by about 15.09% 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 May 2019, the average list price to sales price ratio was 98.21%.
Invest in Hudson County Real Estate
After a few months of decreased sales and prices, the Hudson County market has started to heat back up. Prices and closed sales are consistently rising, making for a competitive buyer’s market and a profitable seller’s market.
Whether you’re buying, selling, or investing, not only will you need to stay up-to-date on the latest trends, but you should also work with professionals who know their way around local real estate. The Living on the Hudson Team has been working in the Hudson County area for years, offering in-depth market knowledge and a wide network of resources. No matter what your real estate goals are, we’re prepared to go the extra mile to achieve them.
Our Hudson County Real Estate Market Resources
Since staying updated on Hudson County real estate trends is so vital to a successful experience, we’re dedicated to providing our clients with all of the latest numbers and trends. In addition to these monthly statistics, we also provide breakdowns on the top-selling condos in each neighborhood. Find a building that looks perfect for you? Browse our website for more information and available listings.
If you still have a few questions about Hudson County real estate, please don’t hesitate to reach out to our team. Post in the comments or give us a call at 347-448-3766, and we’ll get back to you ASAP.