For the month of May, downtown Jersey City closed a total of 44 condominium units. Their total Median List Price was $642,444 and their Median Sold Price was $651,500. Their total time on market - Median Days on Market - was just 15 days.
In April, DTJC closed 46 units by comparison and a Median Sold Price of $715,500 - with more luxury sales reported than the month of May.
There are a total of just 92 units available for sale, leaving downtown Jersey City with a current absorption rate of a little over 2 months.
This indicates a sellers market, as at the current pace of sales and low level of inventory, it would just take 2.5 months for all of the units to sell if no other units became available.
Any questions? Email me! And don't forget to leave a comment below!
A Hoboken and Jersey City Real Estate Blog by Karina Abad, realtor at Keller Williams Towne Square. Real estate market news, condos, homes and brownstones, buying and selling tips and local community info.
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