Hoboken/Downtown Jersey City Real Estate Market Blog: 2015

Friday, December 18, 2015

November 2015 Real Estate Update-Another Record-Setting Year

Sales continued to strengthen for November with prices increasing in all 1BR and 2BR markets except for 1BR in downtown Jersey City.

3BR were up and down again this month, but the sales volume is lower in this category so fluctuations are much more common.

Total number of transactions dropped for both Hoboken and downtown Jersey City, which is very normal for this time of year.

Overall, it looks like we're going to have another record-setting year.

Please click on the link below for full details:

November 2015 Real Estate Update

Thinking of buying or selling?

Please let me know how I can help.

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, November 27, 2015

October 2015 Real Estate Update-Hoboken and Downtown Jersey City

Sales were very steady for September in Hoboken and downtown Jersey City.

Hoboken units are all over $600/sq. ft.

Newport and downtown Jersey City condos also performed well with some wild fluctuations in the 3BR market. There aren't a lot of 3 BR units in this market so even one of two high or low sale can wildly change the average pricing.

Please click on the link below for full details:

October 2015 Real Estate Update

Tuesday, October 20, 2015

Hoboken 1BR and Downtown JC 3BR Prices Soar-September 2015 Real Estate Update

Absorptions rates eased slightly for September as properties stayed on the market a little longer than previous months. The markets are still very tight, but an easing in inventory levels is welcome at this point.

Hoboken 1BR sales saw a strong 13.94% increase this month, while 3BR units saw a 27.47% decrease.

Downtown Jersey City 3BR sales saw a 29.19% increase bolstered by a strong 3BR sale at 77 Hudson.

There aren't as many 3BR sales in Hoboken and downtown Jersey City, so these prices fluctuate from month to month.

Please click on the link below for full details:

September 2015 Real Estate Update

Thursday, September 17, 2015

Properties Selling Faster-Slightly Lower Pricing-August 2015 Hoboken/Downtown Jersey City Update

There was a slight retraction in pricing for Hoboken in August, although studio-2BR units are still entrenched in the $625-$650/sq. ft. range and 3BR are selling strong at $717.65/sq. ft.

In downtown Jersey City there were increases across the board although 2BR units increased just .55%.

Newport saw a slight drop for 2BR condos and a surge in pricing for 3BR condos. However, there isn't much 3BR activity in the Newport area, so fluctuations are more common in this segment.

These changes have been counterbalanced by falling absorption rates for Hoboken and downtown Jersey City inventories which means properties are selling faster than last month for slightly lower prices.

Please click on the link below for full details:

August 2015 Real Estate Update

Thinking of buying of selling?

Please let me know how I can help.

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Monday, August 24, 2015

July 2015 Real Estate Update | Hoboken 2BR @ $697.02/Sq.Ft.-3BR @ 735.01 Sq. Ft. Downtown JC 2BR @ $634.27/Sq.Ft.

Hoboken 2BR and 3BR condos continued their momentum this month with 2BR averages at an impressive $697.02/sq.ft.

3BR units averaged $735.01/sq.ft. which is the third month in a row that prices for this segment averaged over $700/sq.ft.

Downtown Jersey City did equally as well with all market segments posting increases over last month. This is the fourth month in a row that downtown Jersey City 2BR averaged over $600/sq.ft. and Newport 2BR averaged over $700/sq.ft.

Please click on the link below for full details:

July 2015 Real Estate Update

Saturday, July 18, 2015

Hoboken/Downtown Jersey City June 2015 Real Estate Update-Is The Market Cooling Off? Or are Lots of Buyers Enjoying The Summer?

The rally continued in June with prices for all markets staying strong. There was some fluctuation in Hoboken studios, but there are so few transactions in this segment that one sale can skew the numbers a bit.

Pending sales dipped slightly, while total sales increased from May 2015. I'll have to see how the pending sales look for July to see if there's a cooling trend about to happen.

When the market was this hot back in 2006-2007 the market cooled a bit as buyers felt that pricing had escalated too quickly.

It's either that or buyers were so sick of the horrible winter that we had that they've decided to spend even more time down at the shore.

Please click on the link below for full details:

June 2015 Real Estate Update

Tuesday, June 16, 2015

May 2015 Hoboken/Downtown Jersey City Update-3BR in Hoboken Up 13.68%, Downtown Jersey City 2BR Up 7.80%

We've had a very robust month with all market segments averaging well over $600/sq. ft.

The standouts were the Hoboken 3BR market with an increase of 13.68% and downtown 2BR with an increase of 7.80%. We're entering new pricing thresholds as pricing continues to strengthen.

Many properties are still selling with multiple offers above asking price, so I don't see a stabilization of pricing until inventories increase to catch up with demand.

Please click on the link below for full details:

May 2015 Real Estate Update

Thursday, May 14, 2015

Properties Selling Faster Than Ever!-Hoboken/Downtown Jersey City Real Estate Market Report-April 2015

The warmer weather has brought with it a strong increase in activity in all market segments. The low inventory, as evidenced by some of the lowest absorption rates we've ever seen, seems to be driving pricing higher and higher.

Please click on the link below for full details:

April 2015 Real Estate Update

Buyers searching for properties in Hoboken often ask me about properties in downtown Jersey City, thinking that pricing is a bit lower over there. In reality, pricing in downtown Jersey City is higher than Hoboken and properties in the Newport area are actually much higher, on average, than Hoboken.

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Tuesday, April 21, 2015

Hoboken STILL Averages OVER $600/Sq. Ft. Newport OVER $700/Sq. Ft.-March Real Estate Update

March saw significant increases in pending and closed sales as buyers who were on the fence officially jumped into the market. Many buyers have realized that pricing has remained strong for some time and there's no sign of the market slowing down.

Take a look at the chart...the increases are impressive.

Please click on the link below for full details:

March 2015 Real Estate Update

There was a slight dip in per square foot prices in Hoboken properties, but 1 through 3 BR condos still averaged over $600/sq. ft.

Downtown Jersey City prices slumped a bit for March, but there were some very high sales prices last month so a slight correction was to be expected.

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Tuesday, March 17, 2015

OVER $629/Square Foot-Hoboken/Downtown Jersey City Real Estate Udpate-February 2015

February has continued the momentum that started in January with every market segment now at least $629/sq. ft. or higher. Is it just matter of time before the average sale price in Hoboken and downtown Jersey City will be $700/sq.ft.

Please click on the link below for full details:

February 2015 Real Estate Update

Looking for a 3 bedroom condo in Hoboken?

I have two beautiful units not yet on the market.

Email or call me for details.

Instant Home Values: http://www.hobokenpropertyvalue.com/
(works on values for all New Jersey homes)

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Saturday, February 21, 2015

January 2015 Real Estate Stats Update-Off to a Great Start

The year is off to a great start.

Total sales for Hoboken were down, while total sales for downtown Jersey City actually increased from last month.

There was a 20.35% spike in 1 BR downtown prices which was based a few very strong sales.

Please click on the link below for full details:

January 2015 Stats

Looking for an instant home valuation?

Instant Home Values: http://www.hobokenpropertyvalue.com/
(works on values for all New Jersey homes)

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Thursday, January 22, 2015

2014 Year End Summary-Big Prices Increase in EVERY Category-Hoboken/Downtown Jersey City

So, here's the moment that everyone's been waiting for....how did the local real estate market perform in 2014?

The answer is....very well.

Prices have increased in every sales category with 3 BR units showing the largest increases in Hoboken, Newport and downtown Jersey City. It seems these days that any decently priced 3 BR condo sells even faster than 1 BR and 2BR units.

What's more interesting is when you look back over the last 5 years and see how pricing has skyrocketed. We're talking significant price increases.

The complete lack of inventory and increasing demand definitely keep pricing very strong.

Looking for an instant home valuation?

Instant Home Values: http://www.hobokenpropertyvalue.com/
(works on values for all New Jersey homes)

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Tuesday, January 20, 2015

December Real Estate Numbers-Hoboken/Downtown Jersey City-Monthly Stats Update

Numbers remained strong again for December in Hoboken and downtown Jersey City.

There was a slight dip in total transactions in Hoboken which I attribute more to lack of inventory than lack of demand.

It's interesting to see the dramatic increase in 3 BR pricing. There is such a lack of 3 BR units right now that new listings are literally selling in a matter of days over asking price. Amazing.]]

Pricing in the downtown and Newport areas should not be overlook. They have increased dramatically and are experience the same area-wide lack of inventory problems.

End of year data to be posted shortly.

Looking for an instant home valuation?

Instant Home Values: http://www.hobokenpropertyvalue.com/
(works on values for all New Jersey homes)

Kevin Dowd
Broker Salesperson
Berkshire Hathaway HomeServices
Hudson River Properties
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search Hoboken listings:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC