Jersey City Real Estate

Increase in list to sale price ratio of Jersey City downtown condos

April 22, 2015 by Janice Hall

The median list to sale price ratio for condos in the Jersey City downtown area for the period January to February 2015 is 99.21% compared to 95.03% for the same period a year ago, January to February 2014. This represents a 4.39% increase over last year.

For the 12 month period March 2014 to February 2015, the median list to sale ratio was 99.52% compared to 98.95% for the period March 2013 to February 2014. This is a 0.58% increase over the previous 12 months.

February 2015 saw a 0.22% increase in median list price to sale price ratio over February 2014. February 2015 ratio was 98.64% compared to 98.43% for February 2014.

Wondering if now is the best time to list your Jersey City downtown condo? Call Janice Hall at 201 232 8577

Increase in median sold price for condos in downtown Jersey City

April 5, 2015 by Janice Hall

The median sold price for condos in the Jersey City downtown area has increased by 18.01% for the period January to February 2015 when compared to the same period last year January to February 2014. The median sold price for 2015 is $593,000 compared to $502,500 in 2014.

For the 12 month period March 2014 through February 2015, the median sold price for condos in the Jersey City downtown area was $577,000 compared to the period March 2013 through February 2014 when the median sold price was $509,000.

For more information on the Jersey City downtown real estate market call Janice Hall at 201 232 8577.

Jersey City downtown & Hudson County rank #1 in the NJ housing market

March 27, 2015 by Janice Hall

The Jersey City downtown market and Hudson County rank the best of all New Jersey real estate markets. Jersey City downtown currently has an absorption rate of 1.3 and Hudson County overall 4.5. The absorption rate measures the rate at which the market is absorbing inventory for sale. In other words, given the pace at which buyers are purchasing houses in downtown Jersey City there is currently only 1.3 months supply.

The # 2 market is Middlesex County with 5.6 , #3 Union 6.2, #4 Essex 6.3, and # 5 Bergen with 6.5. The New Jersey state average is 8.2.

With high demand for houses and limited supply sellers can, within reason, expect to get top dollars for their house. But sellers who wait to sell should note that the homeowner rate has declined in New Jersey and as of the end of 2014 was at 9% compare to the nation which is at 6%.

Interested in selling and not sure if now is the right time? Call me Janice Hall at 201 232 8577

Half of all Jersey City downtown condos selling at or above list price

March 2, 2015 by Janice Hall

Over the last 3 months, December 1, 2014 thru February 27, 2015, 60 of the 122 condos that sold in downtown Jersey City sold at 100% or above their list price. 36 or 60% of these 60 condos came within the range of 101% – 120% of list price.

The remaining 62 condos that changed ownership during the same period fell with a range of 83% and 99% of sale to list price.

The overall average sale to list price for the last 3 months was 99%.

The highest price paid for a Jersey City downtown condo within the same period was $2,000,000 for PH 4805 at 77 Hudson. The list price for this condo was $2,200,000.

If you wish to know what your Jersey City downtown condo would sell for call me Janice Hall, Weichert Realtors, at 201 232 8577

Indicators buyers will buy in 2015, Jersey City downtown and elsewhere

February 12, 2015 by Janice Hall

Comparatively speaking 2015 is one of the best years for buyers to come off the fence and sign on the dotted line.

The Stock Market has made tremendous gains from $11,578 in 2010 to $17,893 now.

The average household income has increased from $49,276 in 2010 to $53,891 now.

The unemployment rate has decreased from 9.3% in 2010 to 5.67% now.

Consumer confidence rating has risen from 63.4 in 2010 to 92.6 now.

The average 30-year fixed interest rate has decreased from 4.71% in 2010 to 3.73% now.

If you have been on the fence about buying a home, there is no better time than now. To find out more about the process call me Janice Hall, at 201 232 8577.

Pier House condo Jersey City downtown sells for over $1million

February 3, 2015 by Janice Hall

With just one month into 2015 a Pier House condo at 15 Warren Street, Jersey City downtown changed hands at a price of $1,050,000, 93% of its list price of $1,125,000. The 1600 sq . ft. duplex condo was on the market for less than a month and has 3 bedrooms and 3 full baths. The Pier House is located on the waterfront in the heart of Paulus Hook, just across the river from lower Manhattan. The Pier House is made up of 1, 2 and 3 bedroom condos.

Also sold in January 2015, in just 30 days on the market, a 1475 sq. ft. unit at Crystal Point. The 2 bedroom 2 bathroom condo changed hands at 96% of its list price of $1,287,000. Crystal Point boasts uninterrupted views of Manhattan, Statue of Liberty and the Hudson River.

Interested in finding out the value of your Jersey City downtown condo? Interested in buying in downtown Jersey City? Call me Janice Hall at 201 232 8577.

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