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.
Wednesday, January 19, 2011
2010 vs. 2009 Stats Comparison----------BIG Changes-January 19, 2011
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:
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:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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