Q1 Downtown Jersey City Real Estate Sales Update

First quarter downtown Jersey City Real Estate Sales Update

Let's just jump right in to the numbers!!

First Quarter (Q1) 2015
118 Condominium units closed with a Median Sale Price of $559,000 and a Median Days on Market of 29 days (about a week longer than 2014 Q4) which is an 11.4% increase from the same quarter 2014.

Q4 2014 closed 156 condominium units with a Median Sale Price of $562,500 and a Median Days On Market of 18 days.


There are currently 111 Units waiting to close with a Median List Price of $598,000 which is 6% higher than the Median List Price of all the units that sold in the first quarter of 2015.

I tell all of my buyers to expect prices to go up between 5% and sometimes even 10% in the Spring market. This is due largely in part to simple supply and demand.  More buyers look to purchase in the Spring than any other time of the year.

Q1 Sales Report | Hoboken Condo Real Estate Sales

Q1 Hoboken Condo Real Estate Sales Report

March went out like a lion..

The climate of real estate sales in Hoboken New Jersey has not shifted much since last year continuing with the charge of buyers looking to purchase.

Although first Quarter 2015 ended with 152 Sales, (98 sales less than Q4 2014) and a Median Sale Price of $560,000 , --- we know that historically Q1 posts the lowest sale numbers as winter is generally the slowest time of the year for real estate sales.

Year over year, Q1 2015 sales appreciated 3% vs the same quarter in 2014.

Fourth Quarter 2014 ended with an increase in sales prices of 9.2% vs Fourth Quarter of 2013.

Median Sale Price was higher than the Median List Price meaning that for the most part units are trading at their full asking price.

Spring came in like a lamb  

PENDING

There are a whopping 233 units waiting to close. The Median List Price for all pending is $579,000 and the median days on market is 12 days - which is a week less than previous days on market.