Walter Burns
The Hudson County real estate market is one of the most active around, meaning trends and statistics tend to fluctuate often. If you want to have the most successful real estate experience possible, you’ll need to stay updated on these ever-changing trends.
In order to simplify your real estate experience, The Living on the Hudson Team regularly highlights the need-to-know numbers for every month, from the average price per square foot to the sales price to list price ratio.
Stay informed and prepared for your buying and selling journey, and take a look at the latest numbers in Hudson County real estate.
Hoboken Real Estate Breakdown
July 2019 Sales Data
Average Price/Sq. Foot: $720
Total Closed Condo Sales: 88
Since July 2018, the median sales value decreased 6.74%, and the average price per sq. foot saw a 6.13% decrease as well. The total closed condo sales increased by about 8.33% from this time last year.
Room for Negotiation: There is little room for negotiation in the Hoboken condominium market. In July, the average sales price to list price ratio was 96.80%, only around 2.62% lower than one year ago.
Downtown Jersey City Real Estate Breakdown
July 2019 Sales Data
Average Price/Sq. Foot: $732
Total Closed Condo Sales: 54
In the past year, the median sales value decreased by about 7.15% since last July, while the average price per sq. foot saw a 9.07% decrease. In July 2019, the total closed condo sales in Downtown Jersey City increased by about 10.20% 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 July 2019, the average list price to sales price ratio was 97.80%. One year ago, it was two percent lower.
Invest in Hudson County Real Estate
With mortgage rates remaining at near-record lows, it’s no wonder that the total number of closed condo sales has gone up in Downtown Jersey City—with buyers so active, it’s a great time to sell. Additionally, with the average sales price in Hoboken trending slightly lower than last year, now is the prime time to invest in a new property, as well!
Whatever capacity you’re entering the real estate market in—whether it’s buying, selling, or investing—it’s vital to stay current with market trends, especially in an area as active and competitive as Hudson County. For years, the Living on the Hudson Team has been buying, selling, and analyzing trends in Hoboken and Jersey City, which means we’re well-equipped to lead you to real estate success. We’re more than happy to offer our extensive market knowledge, countless resources, and invaluable skillset to our clients.
Our Hudson County Real Estate Market Resources
When it comes to Hudson County real estate, being prepared is the key to success. Don’t hesitate to take full advantage of the resources we have to offer, from these monthly statistics to our breakdown of the top-selling condos of the month.
Find a home that checks off all your boxes? Head to our website for more information and browse the available listings.
No matter what your real estate needs may be, our team is here to make sure your questions get some much-needed answers. Reach out in the comments or give us a call at 347-448-3766, and we’ll get back to you ASAP.