Hudson Realty Group Real Estate Market Report 2Q2019

HOBOKEN:

All Apartments Summary:
The average sale price of Hoboken apartments reached $870,000, an increase of 3% over prior year. However, the median sale price decreased ending at $732,000 or 5% lower than prior year. There was a gain of 3% on the number of closed sales with 246 closings versus 239 during the same period last year. Apartments spent an average of 36 days on market with sellers gaining an average of 98% of asking prices.

Townhome Market Summary: The average sale price of Hoboken townhouses was $1,938,000, an increase of 6% over the same period the prior year. The median sale price displayed a considerable increase of 17%, reaching $1,900,000 as compared to just $1,630,000 prior year.
There were just 15 closed sales this term. Dwellings spent an average of 34 days on the market and sellers received approximately 97% of asking price, same as prior year period.

DOWNTOWN JERSEY CITY:

All Apartments Summary: The average sale price of apartments in Downtown Jersey City showed a moderate 4% increase ending at $760,000. The median price also increased modestly, rising 2% to $690,000. The number of closed sales decreased 4% to 137 closed transactions comparing with the 143 closed sales from the same time last year. Sellers received 98% of their asking price with an average of 50 days on market.

Townhome Market Summary: The average sale price of Downtown Jersey City townhouses decreased 29% ending at $1,132,000. This was due to far fewer sales over $1.5mil as compared with prior year. The median sale price had similar performance and decreased 26% ending at $1,075,000. There were 21 closed sales this period compared to only 15 transactions during same period last year. Properties had an average of 51 days on market with sellers receiving 97% of their asking price.

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Hudson Realty Group is a closely integrated team with exceptional knowledge of the Hoboken real estate and Jersey City real estate markets. Our expertise includes: condosbrownstoneslofts and new developments