Following the ups and downs of the real estate market can be complicated. Especially in very popular places like Hoboken and Jersey City. Keeping track of recent Hudson County real estate statistics is wise for anyone looking to buy or sell a home locally. Luckily, PRIME Real Estate Group (Hudson County’s leading local broker with offices in both Hoboken and Jersey City) has shared its July 2022 market statistics to let you know your choices. , to keep you up to date. Read below for more information on the Hoboken + Jersey City July 2022 Market Brief provided by PRIME Real Estate Group.
About Prime Real Estate Group
prime real estate group top local broker We have offices in both Hoboken (98 Park Avenue) and Jersey City (351 Palisade Avenue). The fact that PRIME has been serving the community since his 2001 has made the group an expert in the field and has enabled them to understand the ever-changing market effectively.agent uses this local knowledge Providing the best possible service to our clients, our team strives to help everyone achieve their real estate goals.
hudson residence A partnership group under PRIME. Principal of PRIME Real Estate Group with Jesse Halliburton, his broker. Daniel Fleming; and Todd Maloof form the Hudson Residences partnership. Since its inception in 2012, the group has helped thousands of buyers and sellers move together across northern and central New Jersey. bring in $500 million in real estate over the last decade. Hudson Dwellings aims to provide strong communication with clients, combined with local marketing expertise.
Market overview for July 2022
Daniel Fleming and Todd Maloof, Hudson Residence
suburban market Hoboken and Jersey City are experiencing similar trends again, with July figures showing a decline in out-migration. This is common in summer. The warmer months often result in less market activity and fewer home sales. The reason is that locals are starting to get fed up with the frenzy of suburban housing bidding wars and have decided to pause their home hunting to enjoy the summer. During this time, pending sales will be limited, minimizing market activity. This trend he expects to continue into August. However, the rental market continues to thrive. Most renters are actually paying above market value just to beat other renters. We are in the early stages of an exciting buyer’s market. More on this in the next roundup.
With that in mind, here’s a market overview for July 2022 provided by Hudson Dwellings.
Sold in July 2022
91 units sold in Hoboken and 67 units in Jersey City in July 2022.
Hoboken: 91
Downtown Jersey City: 67
Average selling price July 2022
Hoboken’s average selling price is up 27% compared to last July, with an average selling price of $1,125,067 in July 2022. As for Jersey City, average selling prices were up 2% when compared to last year at this point. It will rise to $943,999 in July 2022.
Hoboken: $1,125,067
July 2022 vs. 2021: 27%
Downtown Jersey City: $943,999
July 2022 vs. 2021: 2%
Average days on the market July 2022
Hoboken homes are on the market for an average of 22 days, down 12% from last year. Jersey City homes are on the market for an average of 21 days, down 25% from last year.
Hoboken: twenty two
July 2022 vs. 2021: -12%
Downtown Jersey City: twenty one
July 2022 vs. 2021: -45%
Properties sold in July 2022
Of the Hoboken properties sold in July 2022, 81 were condos/co-ops, 7 were single-family homes, and 3 were multi-family homes, the total number of Hoboken homes that closed in July 2022 has grown to 91. This is down 34% from last time. Year. For Jersey City, 61 homes were condos/co-ops, 5 single-family homes, and 1 multi-family home. That means Jersey City will close 67 properties in July 2022, down 26% from last year.
hoboken
Condo/Corp: 81
One family: 7
Multi: 3
Total closures in July 2022: 91
July 2022 vs. 2021: -34%
jersey city
Condo/Corp: 61
One family: 5
Multi: 1
Total closures in July 2022: 67
July 2022 vs. July 2021: -26%
Homes available in July 2022
Hoboken had 127 condo/coop, 12 family homes and 12 family homes available in July for a total of 151 homes available. This is an 89% increase from last year. Hoboken also had 65 rental properties. Jersey City has 206 condos/co-ops, 18 single family homes and 23 multifamily units available for a total of 247 homes available, a 357% increase from last year. There were 77 rental properties in Jersey City.
hoboken
Condo/Corp: 127
One family: 12
Multi: 12
Total available in July 2022: 151
July 2022 vs. 2021: 89%
Rental available: 65
jersey city
Condo/Corp: 206
One family: 18
Multi: 23
Total available in July 2022: 247
July 2022 vs. 2021: 357%
Available rentals: 77
prime real estate group Addresses are 98 Park Avenue, Hoboken and 351 Palisade Avenue, Jersey City. If you’re looking to buy or sell in or outside of Hudson County and want the expertise of a partnership of professionals who truly understand the real estate market, please fill out our contact form. here Please call 201-792-4300 for more information.
