Weekly Thursday Wrap-Up – Downtown Jersey City Condo Sales & Activity for the Week of March 31, 2011
Categories: Weekly Thursday Wrap Up
Downtown Jersey City Condos Sales & Activity – Week of March 31st, 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.
The April 1st filing deadline is Friday! 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.
- 277 active Jersey City condo units – vs. 279 last week
- 22 new listings vs. 15 last week
- 7 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 10 dabos last week
- 5 sold vs. 7 sold
- 13 price reductions vs 15
- 4 expired listings vs. 5
Studio & 1 Bedroom Downtown Jersey City Condos:
9 new listing
- 88 Morgan (mls) listed on Jum 10 for $509k; reduced on Jul 29 to $489k; reduced on Sept 13 to $459k
- 229 3rd St. (mls) listed on Mar 23 for $279k.
- 389 Washington (mls) listed on Dec 13 for $295k; sold for $275k
- 389 Washington (mls) listed on Sept 22 for $454k; reduced on Nov 15 to $439k; reduced on Jan 22 to $429k; sold for $419k
7 price reductions
111 Total Active 1BRs
Two Bedroom Downtown Jersey City Condos:
10 new listings
- 443 2nd (mls) listed on Feb 21 for $449.9k.
- 102 Christopher Columbus (mls) listed on Jul 15 for $578.9k; reduced to $550k on Oct 19.
- 369 5th (mls) listed on Oct 26 for $395k; reduced on Nov 27 to $385k.
6 Price Reduction
139 Total Active 2BRs
Three Bedroom and Larger Downtown Jersey City Condos:
3 new listings
- 65 2nd (mls) listed on Feb 3 for $869k.
- 65 2nd (mls) listed on Mar 24 for $619k.
- 382 3rd (mls) listed on Aug 28 for $539k; reduced on Sept 21 to $499k; sold for $485k
- 25 Hudson St. (mls) listed on Jan 18 for $799k; sold for $815k
- 299 Pavonia Ave. (mls) listed on Aug 24 for $1,485k; reduced on Oct 13 to $1,235k; sold for $1,140k.
No price reductions
27 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!