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Keller Williams City Life Realty

Check Out the Latest Numbers with Our September Market Update

Interest rates keep going down, prices continue to skyrocket, and there’s never been a better time to make a move in Hudson County! The Gold Coast’s luxury condo market has made a total comeback since the beginning of the year, and sellers can make an outstanding profit by choosing to list before the end of the year.

Still on the fence about buying or selling your condo? Our September market update can provide you with all the numbers you need to know. If you have any questions, feel free to contact the Living on the Hudson Team for more information.

September market update for Hoboken

Hoboken Real Estate Breakdown

September 2020 Sales Data

Average Price/Sq. Foot: $717
Total Closed Condo Sales: 74
Average Sales Value: $804,453

Since September 2019, the median sales value decreased by 7.0%, and the average price per square foot saw a 0.3% increase.

In September 2020, the total closed condo sales in Hoboken increased by 17.5% from a year ago.

Room for Negotiation: There is little room for negotiation when it comes to condominiums in the Hoboken area. In September, the average sales price to list price ratio was an impressive 98.1%, which is just .4% lower than previous years.

September market update for Downtown Jersey City

Downtown Jersey City Real Estate Breakdown

September 2020 Sales Data

Average Price/Sq. Foot: $735
Total Closed Condo Sales: 51
Average Sales Value: $760,206

In the past year, we’ve seen the median sales value decrease by 1.2%, while the average price per square foot saw a 1.5% decrease. Additionally, the total closed condo sales in Downtown Jersey City decreased by 10.5% from a year ago.

Room for Negotiation: Similarly, there is little room for negotiation in the Downtown Jersey City condominium real estate market. In September 2020, the average list price to sales price ratio was 98.0%, which is .2% lower than it was a year ago.

Is Now the Time to Make a Move?

While we did see some decreases last month, certain portions of the Hudson County market actually experienced unprecedented growth last month. Hoboken’s total closed condo sales jumped by nearly 20%—this is fantastic news for current homeowners, especially if you’re thinking about listing soon.

Even if you don’t plan on moving in 2020, you should still stay on the cutting edge of Hudson County’s ever-changing market. The Living on the Hudson Team offers an array of complimentary resources to our clients, including monthly market updates and in-depth buying and selling guides. If you have any questions about our September market update, feel free to contact us for additional information.

Your Essential Resource for the Hudson County Real Estate Market

The Living on the Hudson Team is proud to be your number one resource for buying and selling condos in Northern New Jersey. For more facts about Hudson County real estate, check out our other blog posts, including our breakdown of the top-selling condos for September.

Want to learn more about our September market update? Leave a comment below or give us a call at 347-448-3766 to talk to a local real estate expert.

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter's mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results. Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Keller Williams City Life Realty. NJAR Circle of Excellence Sales Award, 2009-2018. Google

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