All Apartments Summary: The average sale price of Hoboken apartments continued to trend higher from last year as the measure increased a modest 3% reaching $833,000. However, the median sale price declined 5% ending at $703,000 as there were far fewer sales over $1mil this quarter. There were 250 closed sales
during this quarter, or a 4% increase. Apartments spent an average of 29 days on market with sellers gaining an average of 99% of asking prices.
Townhome Market Summary: The average sale price of Hoboken townhouses was $1,754,000 or 6% higher than the same period of prior year. The median sale price also increased a 6% ending at $1,763,000. Closed sales declined 10% from the 3Q of 2017 with only 18 closed sales. The average days on the market was 45 and sellers received approximately 98% of asking price.
DOWNTOWN JERSEY CITY:
All Apartments Summary: The average sale price of Apartments in Downtown Jersey City was $807,000, a 5% increase compared with the same period last year. The median price also had a 5% increase, ending at $753,000. The number of closed sales was down 12% with 146 closed transactions versus 166 last year. The days on the market was up to 40 days. Sellers received 98% of their asking price.
Townhome Market Summary: The average sale price of Downtown Jersey City townhouses improved 11% ending at $1,439,000 from the same period last year. The median sale price also had a strong quarter with an increase of 8%, rising to $1,402,000. There were 23 closed sales or 8% fewer transactions this period with an average of 33 days on market and sellers receiving 96% of asking price.