May's Sales Numbers For Hoboken Real Estate and Jersey City Real Estate Condo's

In my monthly E-Newsletter I include a look at monthly sales numbers and compare them to the previous month. Here is my report from this month's E-Newsletter..


Final May Sales
Hoboken


60 Units went under contract in May - compared to April, we saw just 28
48 Units sold in May - compared to April, we saw just 39
Inventory levels currently are 587 units for sale (147 were listed in May)

About half of May's sales were attributed to 1st time buyers and entry level homes, with the other half being in the move up market mostly larger 2 bedrooms and a handful of luxury sales. There is no question that the more aggressively priced homes are moving in this market. An increasing number of seller's are putting there homes on the market with hopes that next year's market will yield a higher sales price. Noticeably higher rental inventory levels this month.


Jersey City All condo's classified as downtown Jersey City


34 Units went under contract in May - compared to about half - 15 in April
18 Units sold in May - compared to 13 in April
Inventory levels currently are 405 units for sale (94 were listed in May)

Coincidentally, almost half of May's sales were in the lower, entry level, priced homes. The other half were also sales in higher priced large 2 bedrooms however the highest price peaked at $627,000 compared with Hobokens $970,000 for a condo. No question that Jersey City sales are sluggish compared to Hoboken however there is less inventory available plus these numbers do not reflect any sales directly from builders and new construction. 77 Hudson, a 48 story sky scraper, unveiled it's models this week.


Before putting your home on the market or purchasing a home make sure to study monthly trends to get an accurate market value. Make sure you list your home at a price that will attract buyers today. If you're buying, make sure that you know what the home is worth before you make an offer - it can save you thousands!


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