If I could describe the current real estate environment in downtown Jersey City I would say it's cut throat. To say the market is competitive is an understatement. Multiple bids, acceptances and then cancelling because a new, higher bid came in is the norm. Buyers, you must hire a savvy agent if you are wishing to compete and find a home to call your own. Sellers, as long as you price your home accordingly, you can be confident you will receive your asking price if not better.
Sales: For the month of September DTJC saw a total of 51 units close. The Median List Price was $499,000 and the Median Sold Price was HIGHER at $507,500. This means if you are making an offer on a property, you must, you must must (unless it's overpriced) start at asking price if you are going to be the winning bid. Scary, yes.
Median Days on Market was 28 days.
Pending:
For this same month DTJC 45 units changed their status from active to under contract. Their Median List Price was $549,900 and the Median Days on Market was 28 days.
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