Downtown Jersey City Condos Sales & Activity – Week of February 24th, 2011
HobokenRealEstateNews recognizes that our readership extends beyond our fair city’s one mile boundries. Hoboken buyers are often interested in what their money will buy in the downtown Jersey City market, just as Jersey City sellers often wish to reach out to affluent Hoboken buyers (and vice versa.) As such, we now publish the Jersey City Weekly Thursday Wrap-Up (WTWU) and we’ve expanded our popular Hoboken Open House Google Map to include downtown JC as well.
I’m still happy to send you comps if you are appealing your own taxes. Keep in mind that the City has a 15% margin of error. If your assessment does not multiply out to at least 15% over the current market value of your property, you are not likely to be successful in an appeal. The “upper limit” multiplier for Hoboken is .3407. To see where you are at, take your assessed value and divide by .3407. For example, if your assessed value is 175,000, the result would be $513,648. Your property value must be less than $513k to win.
Here is this week’s condo sales report:
Disclaimer: The data relating to real estate transactions on this web site comes in part from the Hudson County MLS. While some of these listings are, in fact, our listings they are not ALL our listings nor do we hold them out as such. Century 21 Listings are identified with “C21″ after the address. Other listings are from the MLS and are identified with “MLS” after the address. Information is deemed reliable but not guaranteed.
- 296 active Jersey City condo units – vs. 298 last week
- 22 new listings vs. 14
- 5 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 7 dabos last week
- 5 sold vs. 10 sold
- 6 price reductions vs 15
- 7 expired listing vs. 7
Studio & 1 Bedroom Downtown Jersey City Condos:
10 new listing
- 10 Regent St. (mls) listed on Nov 29 at $385k.
- 389 Washington (mls) listed on Jan 20 at $309.9k.
- 264 9th (mls) listed on Oct 18 for $249.9k; sold for $247k.
2 price reductions
129 Total Active 1BRs
Two Bedroom Downtown Jersey City Condos:
8 new listings
- 1 Shore Lane (mls) listed on Jan 24 for $699k.
- 65 2nd St. (mls) listed on Feb 17 for $519k.
- 440 Jersey Ave. (mls) listed on Oct 18 for $314.9k.
- 311 Washington (mls) listed on Dec 3 for $589k; sold for $550k.
- 389 Washington (mls) listed on Oct 28 for $629k; reduced on Nov 30 to $599k; sold for $580k.
3 Price Reduction
143 Total Active 2BRs
Three Bedroom and Larger Downtown Jersey City Condos:
4 new listings
- 229 Montgomery (mls) listed on Nov 16 for $574k; reduced on Dec 17 to $549k; sold for $547k.
- 45 River Dr. South (mls) listed on Aug 11 for $525k; reduced on Sept 1o to $518k; sold for $450k
1 price reductions
24 Total Active 3BRs
Hoboken and Downtown Jersey City Condo Open Houses
Want to Receive New Listings & Price Reductions Daily?
If you would like to be emailed the new listings and price reductions each weekday in either 1br, 2br or 3br categories (Hoboken only) just email us at [email protected] letting us know which size(s) you would like and we’ll add you to the daily email list.
For more information you can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!