MARKET UPDATE APRIL 2016

Page 1

2016

HOBOKEN & DOWNTOWN JERSEY CITY

MARKET REPORT APRIL


H O B O K E N

AVERAGE and MEDIAN SALES PRICE HOBOKEN $2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-

AVERAGE

MEDIAN

STUDIO

AVERAGE

MEDIAN

1 BEDROOM

AVERAGE

MEDIAN

2 BEDROOM

AVERAGE

MEDIAN

3 BEDROOM

APR15

$404,950

$403,000

$473,990

$445,000

$708,501

$630,000

$1,881,333

$1,065,000

MAR16

$526,749

$567,500

$589,805

$538,000

$697,621

$700,000

$875,750

$729,000

APR16

$440,000

$440,000

$526,143

$480,000

$796,261

$750,000

$1,329,722

$960,000

APR15

MAR16

APR16

The average price for an apartment in Hoboken reached $787,878 a 13.04% increase from April 2015. The median price rose to $680,000, 14.71% higher than a year ago.However, there were 71 closings in April, a decrease of 28% from last year. The average price for an apartment in April was 10.59% higher than the last month. There were 71 closings in April compared to 64 closings last month. The average price per sqft reached $728, a 5% increase from last year.


ASKING Vs SELLING PRICE HOBOKEN

PRICE PER SQ.FT HOBOKEN

102.00%

1200 1000 800 600 400 200 0

101.00% 100.00% 99.00% 98.00% 97.00% 96.00%

STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

APR15

1102

683

617

690

725

725

615

545

707

692

817

STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

99.52%

100.60%

101.23%

99.82%

MAR16

MAR16

98.25%

100.12%

100.36%

98.45%

APR16

100.00%

100.47%

99.60%

101.52%

APR16

APR15

APR15

MAR16

APR15

APR16

NUMBER OF SALES HOBOKEN 40 30 20 10 STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

APR15

24

31

45

11

MAR16

4

21

33

APR16

1

21

34

APR15

MAR16

APR16

AVERAGE TIME ON THE MARKET (days) HOBOKEN

50

0

MAR16

APR16

70 60 50 40 30 20 10 0

STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

APR15

10

31

23

34

4

MAR16

41

28

27

65

9

APR16

5

23

29

35

APR15

MAR16

APR16


J E R S E Y

AVERAGE and MEDIAN SALE PRICE JC- DOWNTOWN $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000

C I T Y

$200,000 $-

STUDIO

1 BEDROOM

APR15

2 BEDROOM

3 BEDROOM

$488,850

$493,450

$786,898

$750,000

MAR16

$420,000

$420,000

$575,781

$562,500

$775,504

$709,000

APR16

$320,000

$276,000

$607,256

$592,000

$833,921

$875,000

MAR16

APR16

APR15

$982,400

$950,000

$1,236,3

$999,000

The average price for an apartment in Jersey City reached $734,210 a 6.41% increase from April 2015. The median price rose to $719,210 which is 11% higher than a year ago.However, there were 42 closings in April, a decrease of 28% from last year. The average price for an apartment in April was 5.72% higher than the last month. There were 42 closings in April compared to 46 closings last month. The average price per sqft reached $791, a 13.5% increase from last year.


ASKING Vs SELLING PRICE JC - DOWNTOWN 120.00% 100.00% 80.00% 60.00% 40.00% 20.00% 0.00%

AVERAGE PRICE PER SQ.FT JC - DOWNTOWN 1000 800 600 400 200

STUDIO

APR15

0

1BEDROOM

2BEDROOM

3BEDROOM

99.13%

99.25%

98.26%

APR15

STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

674

655

724

MAR16

97.67%

99.94%

99.11%

0.00%

MAR16

807

731

731

APR16

97.18%

98.90%

99.08%

99.62%

APR16

811

775

708

APR15

MAR16

APR16

APR15

APR16

AVERAGE TIME ON THE MARKET JC - DOWNTOWN

NUMBER OF SALES JC - DOWNTOWN 30 25 20 15 10 5 0

MAR16

869

50 40 30 20 10 STUDIO

0

1BEDROOM

2BEDROOM

3BEDROOM

24

27

7

APR15

APR15

STUDIO

1BEDROOM

2BEDROOM

3BEDROOM

47

16

31

MAR16

1

21

23

0

MAR16

19

31

36

0

APR16

3

17

19

3

APR16

16

32

29

10

APR15

MAR16

APR16

APR15

MAR16

APR16


CHRISTOPHER OZAR Sales Associate O: 201.222.8068 C: 732.720.4676 chris@ozargroup.com 1 Marine View Plaza Hoboken, NJ 07030 OZARGROUP.COM LibertyRealty.com

Prepared by Haarika K, Vice President Creative Horizons LLC Data is sourced from the Hudson County MLS. Š2016 by Ozar Group at Liberty Realty LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without Ozar Group or Creative Horizons prior consent. While information is believed true, no guaranty is made of accuracy.


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