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HUDSON REALTY GROUP’S
MONTHLY REAL ESTATE UPDATE
AUGUST EDITION
YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE
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HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT
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MARKET RECAP
Sales volume and prices surged within Hoboken and Jersey City’s residential real estate market over the 1st half of 2015. A total of $606M in residential sales closed over the first 6 months of the year, up almost 18% over the same period last year. Bidding wars were more the norm than the exception due to starting the year with inventory at all time lows, no increase in the quantity of properties listed for sale combined with strong demand from buyers. On average properties spent only 30 days on the market with many of them going into contract after the first week on the market. Pricing continued to rise, setting all-time record average sales prices and price per square foot for all property types. Brooklyn (Brooklyn Heights/Carroll Gardens/Cobble Hill/Columbia Street Waterfront/Dumbo/Red Hook) condo values at average price points are roughly 100% more than those in Hoboken and Jersey City ($1.26M vs $650k), Metro NJ continues to offer tremendous value, even at record price levels…<continiued in report>
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REAL ESTATE AND COMMUNITY NEWS
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 NJ.COM: CITI BIKE JERSEY CITY TO LAUNCH IN SEPTEMBER
Jersey City’s bike-sharing program will launch next month with 350 bikes at 35 stations, and will work in tandem with the popular Citi Bike program across the Hudson River in New York, city officials announced today. The long-awaited announcement comes as the city has added 22 new miles of bike lanes from the Heights to Greenville,…”
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 NJ.COM: DOWNTOWN JERSEY CITY TOWER GETTING 30-YEAR TAX BREAK
“The developer, who received a $40 million tax break from the state last month, has pledged to make 20 percent of the tower’s 397 units affordable. Mayor Steve Fulop, who for years as a councilman criticized long-term tax breaks for Downtown developments, has said he now supports them if developers build affordable units on-site.”…
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Thanks for reading our newsletter!
Please don’t hesitate to contact us if you have any questions, comments or concerns.
Peter Cossio Clare Cossio Lindsey Brown Matt Brown
Hudson Realty Group at Halstead Property
hudsonrealtygroup@halstead.com
201.478.6709
   
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DISCLAIMER: ©2015 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. This mail is for the named addressees only. If you are not the intended recipient, please delete it from your files. All information is from sources deemed reliable but is subject to errors, omissions, change of price, prior sale or withdrawal without notice. No representation is made as to accuracy of any description. All measurements and square footage are approximate and all information should be confirmed by customer. Halstead Property and Hudson Realty Group do not represent the sale of the new construction developments highlighted in this newsletter. All rights to content, photographs and graphics reserved to Broker. This information may not be copied, commercially used or distributed without Halstead Property’s prior consent.
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