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.