The downtown Jersey City real estate market is also experiencing a shortage in inventory. Homes are selling close to asking and sales are down from August. However, this area has more new development and inventory sold direct that is not reflected in the MLS data, so I believe Jersey City is performing better than these numbers indicate. Buildings like 77 Hudson and Dixon Mills don't report sales to the MLS. Inventory shrank from 165 units to just 134. Sales:
For the month downtown JC reported 25 sales down from 39 sales in August.
The Median List Price was $449,900
The Median Sale Price was $442,000 - a discount of just 1.7%
and The Median Days On Market was 36 days.
Pending:
In September 56 units were reported under contract.
Their Median List Price is $487,444
The Median Days on Market is 42 days.
With just 134 units for sale and an average of about 35 units selling per month, downtown Jersey City has an absorption rate of about 3.8 months indicating a seller's market.
Now could be a great time to sell your property and capitalize on this rare opportunity. If you are considering selling please contact me for a consultation.
Search for downtown Jersey City condo's here and select your price range and number of bedrooms.
Information provided by the Hudson County MLS deemed reliable but not guaranteed.
Make sure to check back for my monthly Real Estate Market Condo Sales Updates
Oh sorry to hear this, Maybe they need some adjustment for their sales.
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