Jersey City Condo Sales

Increased buyer activity in Jersey City downtown despite limited inventory

September 29, 2015 by Janice Hall

Forget the naysayers and talk about “slow down” in real estate activity elsewhere, year to date statistics show that at least in Jersey City downtown, buyer activity is still on the rise.

In July 2015 there was a 10.45% increase in number of units sold over July 2014; 74 units to 67 units.

For the 12 month period August 2014 thru July 2105 there was a 0.54% increase over the same period one year earlier August 2013 thru July 2014; 749 to 745 units.

The average sold price for all sales in Jersey City downtown has increased 12.28% in July 2015 over July 2014; $747,020 over $665,291.

The average sold price for the 12 month period August 2014 thru July 2015 increased 10.03% over the same period 1 year earlier August 2013 thru July 2014: $669,559 over $608,531.

If you are interested in finding out what your Jersey City downtown property is worth call me Janice Hall at 201 232 8577.

$ per sq. ft. at 77 Hudson Jersey City downtown soars to $1252.38

September 21, 2015 by Janice Hall

The price per sq. ft for the most recent condo sold at Jersey City downtown 77 Hudson building has risen to $1252.38 with the sale of PH 4704 on September 17 for $2,630,000. This is the highest per sq. ft. price so far for 2015, and the highest price paid for a condo in the building. This is also $111 higher than the 2nd highest per sq. ft price this year of $1141 which was achieved in February when PH 4805 closed at $2,000,000.

Both condos at 77 Hudson spent longer than the average days on the market for Jersey City downtown condos. PH 4704 spent 138 days before going under contract, while PH 4805 was on the market for 51 days.

20 condos have sold from the beginning of January. The lowest price achieved was $464,800. The lowest per sq. ft. price was $799.

If you would like to know the market value of your Jersey City condo call me Janice Hall at 201 232 8577.

Average asked to sold ratio above 100% for condos in Jersey City downtown

September 17, 2015 by Janice Hall

The average list to sold ratio for condos sold during the months February 2015 to July 2015 in Jersey City downtown is now at 100.20%. During the same period last year February to July 2014, the average asked to sold ratio was 99.38%.

Despite limited inventory the number of condos sold in the downtown area during February to July 2015 increased by 7.42% compared to the same period in 2014. 304 condos were sold between February to July. 283 condos were sold sold between February to July 2014.

If you have a question regarding real estate in Jersey City call Janice Hall at 201 232 8577.

Condo inventory in Jersey City downtown at 1 month’s supply

September 3, 2015 by Janice Hall

Given the rate at which Jersey City downtown condo buyers are absorbing the inventory there is only 1 month’s supply of active condo listings, if no other condos are listed.

As of yesterday, September 2, there were 90 condos listed in the 07302 zip code, and 82 condos under contract within the past 30 days. resulting in an absorption rate of 1.1. A rate of 5 or under indicates sellers are in control of the market.

In all zip codes in Jersey City 142 condos went under contract within the past 30 days. There are 308 active condo listings in the entire Jersey City, and an absorption rate of 2.2.

The median days on the market in Jersey City downtown is 22. The median in the whole of Jersey City is 28.

Have a question about the Jersey City real estate market? Call Janice Hall at 201 232 8577.

Gulls Cove condo Jersey City downtown highest list to sold ratio for August

August 30, 2015 by Janice Hall

2 condos at Gulls Cove, 201 Marin Boulevard, Jersey City downtown sold above their list price in August.

Unit # 1516, 2 bedrooms 2 bathrooms, 1379 sq. ft. sold for $1,100,000 or 110% of its asking price of $999,000. #1516 was on the market for just 17 days. This is the highest list to sold ratio for all condos sold so far in Jersey City downtown for August.

Unit # 1002, 1 bedroom 1 bathroom, 903 sq. ft. sold for $590,000 or 102% of its list price of $575,000, after 35 days on the market. Gulls Cove is situated across the street from the Marin Boulevard Light Rail Station.

Of the 54 condos sold so far for August in Jersey City downtown, 32 or 59.25% of them achieved 100% or above asking price.

Want to find out the market value of your Jersey City condo, call me Janice Hall at 201 232 8577.

$806 average price per sq. ft. at Mandalay condos Jersey City downtown

August 23, 2015 by Janice Hall

For the month of August three condos have sold so far at the Mandalay on the Hudson, 20 2nd Street, Jersey City downtown. The average price per sq. ft. for those sold was $805.75.

$828.72 was the highest per sq. ft. price, achieved for unit # 2004 – a 724 sq. ft. one bedroom condo that sold in 4 days for $600,000 some $5000 above its list price. Unit # 2209 fetched the highest price of the 3. It sold for $1,187,000, just $12,000 short of its list price. The 1450 Sq. ft condo had 3 bedrooms and 2 baths. Unit # 2502, an 1104 sq. ft. unit fetched $850,000 and a price per sq. ft of $769.92. The 2 bedroom 2 bathroom unit went under contact in 18 days, its asking price was $860,000.

In July the average price per sq. ft for condos sold at the Mandalay, Jersey City downtown was $818.57.

If you’d like to know how much your Jersey City downtown condo is worth call me Janice Hall at 201 232 8577.

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