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.
Showing posts with label downtown jersey city market update. Show all posts
Showing posts with label downtown jersey city market update. Show all posts
Tuesday, June 2, 2015
Saturday, April 4, 2015
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.
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.
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.
Wednesday, October 3, 2012
Downtown Jersey City Monthly Market Update
It's The Downtown Jersey City Monthly Market Update!
The downtown Jersey City real estate market is also experiencing a shortage in inventory. Homes are selling close to asking and sales are down from August. However, this area has more new development and inventory sold direct that is not reflected in the MLS data, so I believe Jersey City is performing better than these numbers indicate. Buildings like 77 Hudson and Dixon Mills don't report sales to the MLS. Inventory shrank from 165 units to just 134.
Sales:
For the month downtown JC reported 25 sales down from 39 sales in August.
The Median List Price was $449,900
The Median Sale Price was $442,000 - a discount of just 1.7%
and The Median Days On Market was 36 days.
Pending:
In September 56 units were reported under contract.
Their Median List Price is $487,444
The Median Days on Market is 42 days.
With just 134 units for sale and an average of about 35 units selling per month, downtown Jersey City has an absorption rate of about 3.8 months indicating a seller's market.
Now could be a great time to sell your property and capitalize on this rare opportunity. If you are considering selling please contact me for a consultation.
Search for downtown Jersey City condo's here and select your price range and number of bedrooms.
Information provided by the Hudson County MLS deemed reliable but not guaranteed.
Make sure to check back for my monthly Real Estate Market Condo Sales Updates
The downtown Jersey City real estate market is also experiencing a shortage in inventory. Homes are selling close to asking and sales are down from August. However, this area has more new development and inventory sold direct that is not reflected in the MLS data, so I believe Jersey City is performing better than these numbers indicate. Buildings like 77 Hudson and Dixon Mills don't report sales to the MLS. Inventory shrank from 165 units to just 134. Sales:
For the month downtown JC reported 25 sales down from 39 sales in August.
The Median List Price was $449,900
The Median Sale Price was $442,000 - a discount of just 1.7%
and The Median Days On Market was 36 days.
Pending:
In September 56 units were reported under contract.
Their Median List Price is $487,444
The Median Days on Market is 42 days.
With just 134 units for sale and an average of about 35 units selling per month, downtown Jersey City has an absorption rate of about 3.8 months indicating a seller's market.
Now could be a great time to sell your property and capitalize on this rare opportunity. If you are considering selling please contact me for a consultation.
Search for downtown Jersey City condo's here and select your price range and number of bedrooms.
Information provided by the Hudson County MLS deemed reliable but not guaranteed.
Make sure to check back for my monthly Real Estate Market Condo Sales Updates
Tuesday, September 11, 2012
Jersey City Real Estate Market Condo Sales Update
The Jersey City Real Estate Market Condo Update
Condo sales in downtown Jersey City are selling in a relatively short amount of time. With the median days on market time just shy of two months, it's slightly up from July with 34 days on market time and sales are up slightly also at 39 from 33 in July. Inventory continues to remain low at just 165 units for sale, leaving an absorption rate favoring sellers, however homes still need to be priced correctly and show great to sell to multiple bidders.
Sales
For the month of August, Downtown Jersey City reported a total of 39 units close. From the lowest sale price of $217,000 for a 575 sq ft one bedroom condo to the highest price of $839,500 for a 1771 sq ft 2 bedroom 3 bath at 66 Morris St.
The Median List Price for the month was $484,900 and the Median Sold Price was $474,900. The Median Days On Market was 38 days.
Pending
In August, downtown Jersey City reported 48 units change their status to pending. From the lowest asking price of $199,000 for a 643 sq foot one bedroom at 689 Marin Blvd Zephyr Lofts, to the highest asking price of $979,000 for a 3 bed two bath unit with outdoor space (sq footage not listed) at 232 Pavonia Ave Hamilton Square.
Median List Price for these units pending was $497,000 and the Median Days on Market was 44 days.
Search for downtown Jersey City condo's here and select your price range and number of bedrooms.
Information provided by the Hudson County MLS deemed reliable but not guaranteed.
Make sure to check back for my monthly Real Estate Market Condo Sales Updates
Condo sales in downtown Jersey City are selling in a relatively short amount of time. With the median days on market time just shy of two months, it's slightly up from July with 34 days on market time and sales are up slightly also at 39 from 33 in July. Inventory continues to remain low at just 165 units for sale, leaving an absorption rate favoring sellers, however homes still need to be priced correctly and show great to sell to multiple bidders. Sales
For the month of August, Downtown Jersey City reported a total of 39 units close. From the lowest sale price of $217,000 for a 575 sq ft one bedroom condo to the highest price of $839,500 for a 1771 sq ft 2 bedroom 3 bath at 66 Morris St.
The Median List Price for the month was $484,900 and the Median Sold Price was $474,900. The Median Days On Market was 38 days.
Pending
In August, downtown Jersey City reported 48 units change their status to pending. From the lowest asking price of $199,000 for a 643 sq foot one bedroom at 689 Marin Blvd Zephyr Lofts, to the highest asking price of $979,000 for a 3 bed two bath unit with outdoor space (sq footage not listed) at 232 Pavonia Ave Hamilton Square.
Median List Price for these units pending was $497,000 and the Median Days on Market was 44 days.
Search for downtown Jersey City condo's here and select your price range and number of bedrooms.
Information provided by the Hudson County MLS deemed reliable but not guaranteed.
Make sure to check back for my monthly Real Estate Market Condo Sales 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!
Tuesday, December 6, 2011
Downtown Jersey City Real Estate Market November Report
Downtown Jersey City Real Estate Market November Report
November saw 15 units Sold compared with October Below
The Median Sold price is also UP from October (as is in Hoboken Real Estate)
November 2010 V November 2011 show that the median Sold price is down from $469,000 however there were just 15 sales this November compared with 24 of last November showing that prices are unchanged or up. You'll also notice that the list price to sale price ratio is tighter than it was last year, indicating that prices reflect the current market, and demand for homes priced right, trading at close to asking prices.
November Units Sold - 15 Units
| HIGH | LOW | AVERAGE | MEDIAN | |
| LP: | $675,000 | $199,000 | $461,886 | $458,000 |
| SP: | $675,000 | $175,000 | $441,193 | $445,000 |
| Average Price/Sq Feet | $385.20 |
November Units Pending - 24 Units
| HIGH | LOW | AVERAGE | MEDIAN | |
| LP: | $995,000 | $239,000 | $461,657 | $375,000 |
October Units Sold - 23 Units
| HIGH | LOW | AVERAGE | MEDIAN | |
| LP: | $675,000 | $260,000 | $440,051 | $389,000 |
| SP: | $655,000 | $260,000 | $422,730 | $376,000 |
| Average Price/Sq Feet | $421.69 |
October Units Pending - 17 Units
| HIGH | LOW | AVERAGE | MEDIAN | |
| LP: | $835,000 | $186,000 | $443,385 | $425,000 |
2010 November - 26 units Sold
| HIGH | LOW | AVERAGE | MEDIAN | |
| LP: | $1,199,999 | $232,900 | $482,023 | $484,450 |
| SP: | $1,030,000 | $227,000 | $458,657 | $465,000 |
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