hoboken/downtown jersey city market report · hoboken: all apartments hoboken’s average apartment...
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THIRD QUARTER 2010
QUARTERLYMARKET
REPORT
HOBOKEN/DOWNTOWN JERSEY CITY
Hoboken: All Apartments
Hoboken’s average apartment price of $497,873 during the third quarter was 2% higher than a year ago. The number of sales fell 18%, from 200 a year ago to 165. Units spent 20% less time on the market than during 2009’s third quarter, at an average of 82 days.
2 Third Quarter 2010
Asking Vs. Selling Price
85%
90%
95%
100%
50 days
75 days
100 days
125 days
Time on the Market
Average Sale Price Median Sale Price
$550,000
$500,000
$450,000
$400,000
$350,000
$250,000
$300,000
Average and Median Sale Price Number of Sales
50
100
150
200
250
300
$521,289 $475,000
1Q10
$500,138 $458,250
2Q10
$497,873 $455,000
3Q10
$486,899 $472,500
3Q09
$483,355 $465,000
4Q09
138
1Q10
268
2Q10
165
3Q10
200
3Q09
208
4Q09
73
2Q10
82
3Q10
102
3Q09
102
4Q09
91
1Q10
95.3%
1Q10
96.5%
2Q10
95.8%
3Q10
95.9%
3Q09
96.0%
4Q09
Third Quarter 2010 3
halstead.comDowntown Jersey City: All Apartments
Sale prices for apartments in Downtown Jersey City averaged $464,024 in the third quarter, 5% more than a year ago. The median price rose 12% during this time, reaching $455,000. Closings rose 6% from the third quarter of 2009, while apartments took an average of 93 days to sell.
50 days
75 days
100 days
125 days
Time on the Market
101
1Q10
92
2Q10
85
3Q10
93
3Q09
77
4Q09
Asking Vs. Selling Price
85%
90%
95%
100% 95.1%
1Q10
95.2%
2Q10
95.6%
3Q10
95.0%
3Q09
95.8%
4Q09
Average Sale Price Median Sale Price
$450,000
$400,000
$350,000
$300,000
$250,000
$150,000
$200,000
Average and Median Sale Price$411,145 $407,000
1Q10
$437,540 $405,000
2Q10
$464,024 $455,000
3Q10
$442,787 $407,500
3Q09
$414,069 $392,500
4Q09
Number of Sales
0
25
50
75
100
125
150
74
1Q10
102
2Q10
84
3Q10
89
3Q09
131
4Q09
Prepared by Greg Heym, Chief Economist, Halstead Property, LLCData is sourced from the Hudson County MLS
©2009 by Halstead Property New Jersey, LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without Halstead Property’s prior consent. While information is believed true, no guaranty is made of accuracy.
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Eastside1356 Third AvenueNew York, NY 10075212.734.0010
Westside408 Columbus AvenueNew York, NY 10024212.769.3000
Village831 BroadwayNew York, NY 10003212.253.9300
SoHo451 West BroadwayNew York, NY 10012212.475.4200
Midtown770 Lexington AvenueNew York, NY 10065212.317.7800
Harlem175 Lenox AvenueNew York, NY 10026212.381.2570
Brooklyn Heights 150 Montague StreetBrooklyn, NY 11201718.613.2000
Boerum Hill Office495 Atlantic AvenueBrooklyn, NY 11217718.613.2090
Cobble Hill162 Court StreetBrooklyn, NY 11201718.613.2020
Greenwich2 Sound View DriveGreenwich, CT 06830203.869.8100
Stamford1099 High Ridge RoadStamford, CT 06905203.329.8801
Darien671 Boston Post RoadDarien, CT 06820203.655.1418
New Canaan183 Elm StreetNew Canaan, CT 06840203.966.7800
Westport379 Post Road EastWestport, CT 06680203.221.0666
Wilton21 River RoadWilton, CT 06897203.762.8118
Rowayton140 Rowayton AvenueRowayton, CT 06853203.853.1418
Metro New Jersey79 Hudson StreetHoboken, NJ 07030201.478.6700
Riverdale 3531 Johnson AvenueRiverdale, NY 10463718.878.1700
Hudson Valley526 Warren StreetHudson, NY 12534518.828.0181
Development Marketing831 BroadwayNew York, NY 10003212.253.9300
Investment Sales770 Lexington AveNew York, NY 10065212.381.3208
Global Services770 Lexington AvenueNew York, NY 10065212.381.6521
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