State of the Market, 2016 Year End Review

See below for a 2016 recap of the Hoboken and Jersey City real estate markets.

Another year is in the books and Hoboken and Jersey City had another stellar year in real estate. Both cities are experiencing major development with Downtown Jersey City exploding with growth. If you own in these areas, most likely your home value has increased. Hoboken’s average sales price increased 3.5% vs last year and the average $ per sq ft increase by 4.8%. 57% of the home sales sold at or above asking price! Jersey City’s average sales price increased 7.1% vs YAGO and average $ per sq ft was up 11%. Similar to Hoboken, in Jersey City 58% of homes sold at or above asking. This is still a strong Sellers market with low inventory.

If you are a Buyer or have a friend looking to buy, we have access to off market properties.

If you are a Seller or have a friend looking to sell…My % sale to list price was 102.2% (vs. 99.7%) and 12 days on market vs around 30. I sell homes for more than the competition and faster. Let me know and I will do a detailed CMA on your home.

Have a great year and I look forward to working with you in 2017!