Walter Burns
If you’ve been exploring the Hudson County market, then you know that conditions and trends are constantly changing. In order to have the best real estate experience possible, you to have all the details before you start your buying or selling experience. Thankfully, we have an easy way to keep up with all of these trends.
The Living on the Hudson Team has simplified this process by bringing you monthly updates on the latest numbers. Whether it’s the average price per square foot or the sales price to list price ratio, it’s all conveniently located right here.
If you’re ready to stay updated on the ever-changing Hudson County market, keep reading to find out August’s numbers.
Hoboken Real Estate Breakdown
August 2019 Sales Data
Average Price/Sq. Foot: $720
Total Closed Condo Sales: 69
Since August 2018, the median sales value increased 2.28%, and the average price per sq. foot saw a 2.04% decrease. The total closed condo sales decreased by around 21.5% from August of last year.
Room for Negotiation: There is little room for negotiation when it comes to condominiums in the Hoboken area. In July, the average sales price to list price ratio was 97.93%, which is only around 1.43% lower than last year.
Downtown Jersey City Real Estate Breakdown
August 2019 Sales Data
Average Price/Sq. Foot: $749
Total Closed Condo Sales: 43
In the past year, we’ve seen the median sales value decreased by only .97%, while the average price per sq. foot saw a 3.97% decrease. In August 2019, the total closed condo sales in Downtown Jersey City decreased by 21.8% 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 July 2019, the average list price to sales price ratio was 98.27%, which is only .64% lower than last year.
Invest in Hudson County Real Estate
Although the number of closed condo sales has decreased, this is a normal part of market fluctuation—especially during this time of the year. The Hudson County market is still extremely active, and most condos are not staying on the market for very long. Additionally, mortgage rates are still historically low, which makes the market more attractive than usual for buyers, while low inventory gives sellers a competitive edge.
It’s important to stay updated on all aspects of the Hudson County real estate market. Whether you’re buying or selling, things can change on a dime; that’s why the Living on the Hudson Team provides you with monthly reports to track the market. You can compare the numbers yourself or give us a call—we welcome the opportunity to answer any of your questions. O
Your Hudson County Real Estate Market Resource
If you’re ready to jump into the competitive Hudson County real estate market, be sure you have all the resources you need to succeed. We offer comprehensive tools to understand the Hudson County market, so be sure to explore our other blog posts, including our breakdowns of the top-selling condos in August.
Still searching for your dream home? See if you find what you’re looking for by using our specialized search tool, and browse our buying resources for more help.
The Living on the Hudson Team is dedicated to helping our clients no matter what their real estate needs may be. Reach out in the comments or give us a call at 347-448-3766, and we’ll answer any questions you may have.