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
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