Although it’s getting colder in New Jersey, we have some great news—the Hudson County market is still red hot. If you’ve been thinking about buying or selling your condo, now is the perfect time to make your move. However, you’ll want to be prepared before you make any major real estate decisions. That’s where we come in.
The Living on the Hudson Team is here with another Hudson County market update, which features all the numbers you need to know. Our team has checked the MLS and compiled the most up-to-date stats for our clients. It’s just another way that we help you keep up with such a competitive real estate market.
Looking for the latest numbers? Here are some quick facts to catch you up on what happened this November.
Hoboken Real Estate Breakdown
November 2019 Sales Data
Average Price/Sq. Foot: $714
Total Closed Condo Sales: 64
Since November 2018, the median sales value decreased 0.9%, and the average price per sq. foot saw a 2.7% decrease.
Room for Negotiation: There is little room for negotiation when it comes to condominiums in the Hoboken area. In November, the average sales price to list price ratio was 97.8%, which is just 1.1% lower than previous years.
Downtown Jersey City Real Estate Breakdown
November 2019 Sales Data
Average Price/Sq. Foot: $746
Total Closed Condo Sales: 31
In the past year, we’ve seen the median sales value decrease by just 2.2%, while the average price per sq. foot saw a 3.4% decrease. However, the total closed condo sales in Downtown Jersey City decreased by 70.9% from a year ago.
Room for Negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In November 2019, the average list price to sales price ratio was 98.1%, which is a mere .4% lower than last year.
Ready to Invest in Hudson County Real Estate?
Can you believe we’re actually in a real estate off-season? Although we’ve seen a slight decrease in condo sales this month, the Hudson County market is still experiencing unprecedented growth. This is likely attributed to low interest rates and buyers who are motivated to find a home before the start of 2020. Now is not the time to hesitate when it comes to listing or making an offer on your next condo. Believe it or not, buyers and sellers are still quite active during the winter months.
Even if you aren’t taking the plunge into the world of real estate, it’s smart to keep up with where your home stands. Don’t worry—we’ve made the process as easy as possible so you don’t have to pour over all the numbers. The Living on the Hudson Team is proud to offer a comprehensive Hudson County market update to our clients, which shows you only the latest numbers that you need to know.
Your Essential Resource for the Hudson County Real Estate Market
If you’re looking for an agent that will simply list or find you a new condo, you’ve come to the wrong place. The Living on the Hudson Team believes that real estate is more than just a transaction. Our goal is to exceed your expectations and offer unparalleled service to each of our clients. We’re also proud to offer comprehensive market tools to help you navigate the Hudson County market. Be sure to check out our other blog posts, including our breakdowns of the top-selling condos in November.
Thinking about buying a new home? Our all-in-one search tool allows you to search by features, neighborhoods, and more. If you’re not sure where to start, that’s where our buying resources come in. We have everything you need to make the right choice, including the answers to all of your burning questions.
Is it time to make your move? Let us guide you through the process. Feel free to reach out in the comments or give us a call at 347-448-3766. We’re eager to help you no matter what your real estate needs might be.