Providing The Latest and Most Up-to-Date Real Estate News for Hoboken and downtown Jersey City
My name is Kevin Dowd and welcome to my real estate blog. This blog is meant to educate local buyers and sellers in Hoboken, downtown Jersey City and the surrounding areas by providing up-to-date real estate sales statistics. Area-specific commentary is also provided that will provide you with a fresh perspective on the local real estate market.
Thursday, July 15, 2010
Median Sales Prices for Hoboken and Downtown Jersey City at 2005 Levels---July 15, 2010
I had a customer recently ask me for median sales prices for Hoboken, so I thought I'd compile data for Hoboken and downtown Jersey City:
All information was compiled from MLS data.
As the data shows, both downtown Jersey City and Hoboken are hovering at 2005 pricing levels. It's interesting to see how the activity came to sharp halt in 2009. Closed transactions in downtown Jersey City slowed by 41.9% and Hoboken sales slipped 36%.
What's interesting is that the current median sales price as compared to the 2008 high is off by only 12.1% for downtown Jersey City and a meager 8.9% for Hoboken. That's in stark contrast to the 30-40% changes some area of the country have experienced.
Closed transactions for downtown Jersey City and Hoboken are on par with 2008 levels, although pricing is more along the lines of 2005 levels.
Information provided by:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Search up for FREE local school reports and more at: www.hobokenjerseycity.com
Sign up for FREE market condition reports at:
Sign up for FREE listing updates:
Subscribe to: Post Comments (Atom)
Post a Comment