I got up much earlier than usual this morning and with all of the extra time I decided to compare 2009 stats to 2010. In general, pricing was down but transactions are up 12.7% in Hoboken, 33.3% in Newport and 32.8% in Hoboken.
I have noticed softness in pricing in the sub-$250,000 range in Hoboken lately due to several low priced short sales.
Here are the results:
Hoboken
1 BR condo pricing stayed flat between 2009 and 2010, but the number of transactions was up 6.4%
2BR condo pricing was down 3.2% but the number of transactions increased 11.6%.
3BR condo pricing was down 8.9% but the number of transactions increased by 44.64% (more families deciding to stay in town?)
Newport Area-Downtown Jersey City
1BR condo pricing increased by 8.78% and transactions increased by 5%.
2BR condo pricing was down 5.8% and increased by 68.8%.
3BR condo pricing was up by 7.5% and increased 100% (went from 4 units sold in 2009to 8 units sold in 2010)
Downtown Jersey City
1BR condo pricing decreased 6.4% and transactions increased by 28.05%.
2BR condo pricing increased 14.4% and transctions increased by 34%.
3BR condo pricing decresaed 8.2% and transactions increased by 62.5%
Please click on the link below if you can't see the chart:
Information provided by:
Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
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