Downtown Jersey City Condos Sales & Activity – Week of March 3rd, 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.
- 294 active Jersey City condo units – vs. 296 last week
- 16 new listings vs. 22
- 4 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 5 dabos last week
- 3 sold vs. 5 sold
- 8 price reductions vs 6
- 14 expired listing vs. 7
Studio & 1 Bedroom Downtown Jersey City Condos:
6 new listing
- 270 Marin Blvd. #11i(mls) listed on Feb 21 at $206k.
- 270 Marin Blvd #21D (mls) listed on Feb 21 at $279k.
- 15 Warren St. (mls) listed on Dec 2 for $382.5k; sold for $364k.
5 price reductions
125 Total Active 1BRs
Two Bedroom Downtown Jersey City Condos:
9 new listings
- 140 Essex (mls) listed on Jan 6 for $635k.
- 50 Wayne (mls) listed on Dec 16 for $584.9k; sold for $550k.
2 Price Reduction
145 Total Active 2BRs
Three Bedroom and Larger Downtown Jersey City Condos:
1 new listings
- 384 3rd St. (mls) listed on Aug 31 for $519k; reduced to $499k on Sept 17; reduced to $489k on Feb 15.
- 384 3rd St. (mls) listed on Aug 31 for $539k; reduced on Sept 21 to $499k; sold for $502k.
1 price reductions
24 Total Active 3BRs
Hoboken and Downtown Jersey City Condo Open Houses
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Thanks for reading and, as always, we welcome your comments!