JC Weekly Thursday Wrap Up – Jersey City Condo Sales & Activity for the Week of January 27th
Categories: Hoboken Condos, Weekly Thursday Wrap Up
Downtown Jersey City Condo Sales & Activity – Week of January 27th!
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.
Please give us some feedback and let us know how you like these new features.
Here are this weeks numbers:
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.
- 325 active Downtown Jersey City condo units – vs. 310 last week
- 4 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 2 dabos last week
- 2 sold vs. 6 sold
- 15 new listings vs. 14
- 10 price reductions vs 9
- 2 expired listing vs. 5
Studio & 1 Bedroom Downtown Jersey City Condos:
-
105 Greene St (mls) – listed on Nov. 5th for $465k
0 sold
Two Bedroom Downtown Jersey City Condos:
- 25 Hudson St. (mls) – listed for $650k on Jul. 6; under contract on Aug 16; relisted on Nov. 29 for $719.5k
-
126 Dudley St. (mls) – listed for $619,999 on Aug. 5; sold for $605k
-
389 Washington St. (mls) – listed for $759k on Sept. 23; sold for $705k
Three Bedroom and Larger Downtown Jersey City Condos:
-
297.5 Montgomery St. (mls) – listed for $799.9k on Oct. 22nd
-
45 River St. South (mls) – listed for $549k on Dec 3rd.
0 sold
Downtown Jersey City Condo Open Houses
For more information you can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!
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Hoboken Condo Sales – The November Numbers. Hoboken Buyers Get More for Their Money
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Why Are Average Sales Prices Stable When Price Per Square Foot is Dropping?
The November sales results are very interesting.
Take a look at the bottom two charts. I compared this year’s monthly results to the past 3 years and noted the year-over-year changes. For the sake of simplicity, let’s just look at the yearly average figures at the far right. The average sales price of a Hoboken condo has decreased only a little. The price per square foot has decreased by much more. Why might that be?
To date this year, 588 condos have sold for a total of $295mil in sales so far. Last year 800 condos sold for a total of $423 mil in sales. That represents a 30% decline in gross sales but only a 22% decline in total space sold. The average unit size sold so far this year is 1060 square feet versus 1000 square feet last year. Of course, I’ll complete the chart when we have all the data at year end.
So what does this mean? Basically, that you now get more for your money in the Hoboken condo market. Buyers who were spending half a mil for a 1000 square foot 2 bedroom can now get closer to 1200 or 1300 square feet for the same price. That is my theory and my day-to-day experience in the market (having closed more deals in 2009 for buyers than any other agent in Hoboken) bears that out. Any quants out there want to contribute an alternative analysis? I’d love to hear your ideas.
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The Wednesday Weekly Wrap-Up – Hoboken Condo Sales & Activity
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
Hoboken Real Estate – Condo Sales and Inventory As Of May 27 th
Studio & One Bedroom Condos:
Total Active: 173
Under Contract (Dabo’d): 73
Sold (Deals Closed) This Week: 7 Average Sold Price: $385,714
New Listings This Week: 16
Two Bedroom Condos:
Total Active: 301
Under Contract: 110
Sold: 8 Average Sold Price: $615,000
New Listings: 8
Three Bedroom Condos or Bigger
Total Active: 58
Under Contract: 17
Sold: 0
New Listings: 2
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