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.
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.
Showing posts with label downtown jersey city condos. Show all posts
Showing posts with label downtown jersey city condos. Show all posts
Saturday, April 4, 2015
Monday, August 4, 2014
Downtown Jersey City Condo Market Update | Market Snapshot by Karina Abad
Downtown Jersey City Condo Market Update a Market Snapshot
Jersey City remains very active with the number of units down from June however the Median Sold Price is actually up 4.7% while the median days on market is up just three days.
July 52 Units Sold June 65 Units Sold
Median List Price $613,500 Median List Price $589,000
Median Sold Price $612,500 Median Sold Price $585,000
Median D.O.M. 17 Days Median D.O.M. 14 Days
There are 76 units under contract in July with a Median List Price of $596,250 and Median Days on Market of 25 Days.
Search for your next Jersey City condo now and don't forget to subscribe so you can receive my monthly market updates!
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| 140 Bay Street Lofts in Jersey City |
Jersey City remains very active with the number of units down from June however the Median Sold Price is actually up 4.7% while the median days on market is up just three days.
July 52 Units Sold June 65 Units Sold
Median List Price $613,500 Median List Price $589,000
Median Sold Price $612,500 Median Sold Price $585,000
Median D.O.M. 17 Days Median D.O.M. 14 Days
There are 76 units under contract in July with a Median List Price of $596,250 and Median Days on Market of 25 Days.
Search for your next Jersey City condo now and don't forget to subscribe so you can receive my monthly market updates!
Wednesday, July 17, 2013
Jersey City Real Estate Market Update
Jersey City Real Estate Market Update
Downtown Jersey City condo market update. June 2013 sales and pending.
Sale
For the month there were 57 sales. The Median List Price was $520,000 and the Median Sold Price was the same as the list price $520,000. The Median Days on Market was just 16 days.
Pending
For the month there were 61 units change their status to pending. The Median List Price was $525,000. Median Days on Market was 24 days.
Downtown Jersey City condo market update. June 2013 sales and pending.
Sale
For the month there were 57 sales. The Median List Price was $520,000 and the Median Sold Price was the same as the list price $520,000. The Median Days on Market was just 16 days.
Pending
For the month there were 61 units change their status to pending. The Median List Price was $525,000. Median Days on Market was 24 days.
Friday, April 12, 2013
Downtown Jersey City Real Estate Market Update - 1st Quarter
Downtown Jersey City Real Estate Market Update - 1st Quarter
We are full force into the Spring Real Estate Market and downtown Jersey City has made a nice rebound in sales. Let's start with the first quarter of 2013 below.
January:
Jersey City reported 40 condo sales. Their Median List Price was $460,450 and their Median Sold Price was $454,000. Median Days on Market was 27 days.
58 units were reported as pending for January.
February:
Jersey City reported a total of 28 condo sales. Their Median List Price was $499,000 and their Median Sold Price was $472,500. Median Days on Market was 25 days.
49 units were reported as pending for February.
March:
Jersey City reported a total of 54 units sold for the month. Their Median List Price was $499,000 and their Median Sold Price was $479,400. Median Days on Market was 28 days.
56 units were reported as pending for March.
First Quarter Sales Totals
122 Condo Sales
Median List Price for all was $498,944
Median Sold Price was $477,000
Median Days on Market was 28 days.
VS
First Quarter Sales in 2012
81 Condo Sales
Median List Price for all was $420,000
Median Sold Price was $414,000
Median Days on Market was 60 days.
First Quarter Condo Sales in Downtown Jersey City are up approximately 13% from the same time last year.
Thank you for reading my downtown Jersey City real estate market update! If you have any questions please don't hesitate to reach me! And remember you can search on my website for condos for sale at www.karinaabad.com
Check back soon for more updates!
Information gathered from the Hudson County MLS, deemed reliable but not guaranteed.
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| Reporting From My Office! |
January:
Jersey City reported 40 condo sales. Their Median List Price was $460,450 and their Median Sold Price was $454,000. Median Days on Market was 27 days.
58 units were reported as pending for January.
February:
Jersey City reported a total of 28 condo sales. Their Median List Price was $499,000 and their Median Sold Price was $472,500. Median Days on Market was 25 days.
49 units were reported as pending for February.
March:
Jersey City reported a total of 54 units sold for the month. Their Median List Price was $499,000 and their Median Sold Price was $479,400. Median Days on Market was 28 days.
56 units were reported as pending for March.
First Quarter Sales Totals
122 Condo Sales
Median List Price for all was $498,944
Median Sold Price was $477,000
Median Days on Market was 28 days.
VS
First Quarter Sales in 2012
81 Condo Sales
Median List Price for all was $420,000
Median Sold Price was $414,000
Median Days on Market was 60 days.
First Quarter Condo Sales in Downtown Jersey City are up approximately 13% from the same time last year.
Thank you for reading my downtown Jersey City real estate market update! If you have any questions please don't hesitate to reach me! And remember you can search on my website for condos for sale at www.karinaabad.com
Check back soon for more updates!
Information gathered from the Hudson County MLS, deemed reliable but not guaranteed.
Friday, April 6, 2012
Jersey City Real Estate Market Update - March
My Jersey City Real Estate Market Update - March ReportBelow is a monthly recap of the current state of the market to keep you up to date on activity.
SALES
For the month of March downtown Jersey City saw a total of 29 units close. From the lowest asking price, a 672 sq ft one bedroom short sale at 366 1/2 7th Street with a list and sale price of $199,900, to the highest asking price of $799,000 for a 3 bedroom 2 bath, 2000 sq foot duplex with a sale price of $755,000.
The Median List Price for units sold was $425,000 and the Median Sale Price was $414,000.
Median Days On Market was 73 days.
PENDING
For the month there are a total of 56 units waiting to close. From the lowest asking price of $199,000 for a 630 sq foot one bedroom at 515 Jersey Ave, to the highest asking price of $1.075,000 for a 3 bed 2 bath duplex plus loft at 15 Warren Street.
The Median List price for units pending was $421,000 and the Median Days On Market was 48 days.
Search Jersey City real estate condos for sale and check back here every month for market updates!
Saturday, March 10, 2012
Downtown Jersey City Real Estate Market Update
My Downtown Jersey City Real Estate Market Update - this is the February Report
Sales
For the month of February Downtown Jersey City reported 30 sales for the month. Up from January's 13 sales.
From the lowest priced unit at 234 6th Street a 411 square foot one bedroom with a list price of $174,900 and a sale price of $174,000, the the highest priced unit at 15 Warren Street, a 3 bedroom 2.5 bath duplex with a list price of $949,000 and a total of 9 bidders, sold to the highest bidder at $965,000 CASH.
Median list price for units closed was $422,500 and the median sold price was $412,500. The median days on market was 56 days. Up from January Median list price of $414,500 and the Median sale price of $407,500.
Pending
43 Units reported pending and are waiting to close. From the lowest asking price of $199,900 at 366 1/2 7th Street for a 672 square foot 1 bedroom 1 bath, to the highest asking price of $769,000 at 2 2nd Street for a 3 bedroom 2 bath 1465 square foot penthouse.
Median list price for these units pending was $400,000.
Downtown Jersey City's current inventory is showing just 230 units active. Pent up demand for quality properties is putting pressure on buyer's as more and more units are seeing multiple bids.
This is a good sign for the real estate market as more inventory is absorbed. There is still a small percentage of short sales available however that will lag the market time in this area until those units are purchased. It's difficult to determine the true median prices and days on market due to this factor in the market.
The weather has also helped by leading buyers to purchase earlier than they typically would in the Spring. We anticipate the trend to continue higher through the second quarter.
Check back next month!
Sales
For the month of February Downtown Jersey City reported 30 sales for the month. Up from January's 13 sales.
From the lowest priced unit at 234 6th Street a 411 square foot one bedroom with a list price of $174,900 and a sale price of $174,000, the the highest priced unit at 15 Warren Street, a 3 bedroom 2.5 bath duplex with a list price of $949,000 and a total of 9 bidders, sold to the highest bidder at $965,000 CASH.
Median list price for units closed was $422,500 and the median sold price was $412,500. The median days on market was 56 days. Up from January Median list price of $414,500 and the Median sale price of $407,500.
Pending
43 Units reported pending and are waiting to close. From the lowest asking price of $199,900 at 366 1/2 7th Street for a 672 square foot 1 bedroom 1 bath, to the highest asking price of $769,000 at 2 2nd Street for a 3 bedroom 2 bath 1465 square foot penthouse.
Median list price for these units pending was $400,000.
Downtown Jersey City's current inventory is showing just 230 units active. Pent up demand for quality properties is putting pressure on buyer's as more and more units are seeing multiple bids.
This is a good sign for the real estate market as more inventory is absorbed. There is still a small percentage of short sales available however that will lag the market time in this area until those units are purchased. It's difficult to determine the true median prices and days on market due to this factor in the market.
The weather has also helped by leading buyers to purchase earlier than they typically would in the Spring. We anticipate the trend to continue higher through the second quarter.
Check back next month!
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