The Hudson County real estate market has a long-established reputation as one of the most active and competitive around. And with so many luxurious high-rise properties and stunning waterfront homes, it’s easy to see why.
If you’re looking to buy or sell a home in Hudson County, then being prepared is the key to success. The Living on the Hudson Team regularly breaks down some of the most important real estate statistics every month, from the averages sales price to the total closed sales. Stay up-to-date on the latest numbers, and see how the Hudson County real estate market performed this June.
Hoboken Real Estate Breakdown
June 2019 Sales Data
Average Price/Sq. Foot: $744
Total Closed Condo Sales: 70
Since June 2018, the median sales value decreased 6.61%, and the average price per sq. foot saw a 1.67% decrease as well. The total closed condo sales decreased by about 10.26% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In June, the average sales price to list price ratio was 97.8%, only around 1.61% lower than one year ago.
Downtown Jersey City Real Estate Breakdown
June 2019 Sales Data
Average Price/Sq. Foot: $737
Total Closed Condo Sales: 46
In the past year, the median sales value increased by about 0.16% since last June, while the average price per sq. foot saw a 3.24% decrease. In June 2019, the total closed condo sales in Downtown Jersey City decreased by about 8% 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 June 2019, the average list price to sales price ratio was 96.40%. One year ago, it was 98%.
Invest in Hudson County Real Estate
While numbers in the Hudson County real estate market may be a little lower than last year, that may soon change. Mortgage rates are at a surprising low, coming in at 3.8%—the lowest they’ve been since 2016 and nearing overall record-low numbers. With such favorable conditions, there’s a good chance that buyers will become more active soon.
No matter if you’re buying, selling, or investing, staying up-to-date on the latest real estate trends can give you a major leg up on the competition. Additionally, working with a professional who knows their way around local real estate is invaluable to your success. The Living on the Hudson Team has been buying and selling in the area for years, and we’re more than happy to offer our in-depth market knowledge, wide network of resources, and unique skillset to our clients.
Our Hudson County Real Estate Market Resources
Don’t go into your Hudson County real estate journey without a little preparation—use our helpful resources to get started. We’re dedicated to providing our clients with all of the latest numbers and trends, from the monthly statistics to details on the top-selling condos in each neighborhood.
See a home that looks perfect for you while you’re browsing? Head to our website for more information and available listings.
Our team is always around to answer any and every one of your Hudson County real estate questions. Post in the comments or give us a call at 347-448-3766, and we’ll get back to you ASAP.