Second Quarter 2019 Market Report I Hoboken/Downtown Jersey City

HobokenALL APARTMENTS

The average sale price of Hoboken apartments reached $870,000, an increase of 3% over prior year. However, the median sale price decreased ending at $732,000 or 5% lower than prior year.

There was a gain of 3% on the number of closed sales with 246 closings versus 239 during the same period last year. Apartments spent an average of 36 days on market with sellers gaining an average of 98% of asking prices.

98.0%

2Q19

105%

100%

95%

90%

98.0%

3Q18

300

250

200

150

100

0

50

246

2Q19

250

3Q18

40 Days

30 Days

10 Days

0 Days

29

3Q18

36

2Q19

$800,000

$700,000

$650,000

$600,000

$850,000

$900,000

$750,000

AVERAGE AND MEDIAN SALES PRICE NUMBER OF SALES

TIME ON THE MARKET ASKING VS. SELLING PRICE

Average Sales Price Median Sales Price

2Q19

$870,000$732,000

3Q18

$833,000 $703,000

20 Days

Halstead 2

2Q18

$848,000 $770,000 239

2Q18

32

2Q18

100.0%

2Q18

4Q18

$918,400 $725,000

1Q19

$859,150 $749,000 183

4Q18

139

1Q19

98.0%

4Q18

98.0%

1Q19

37

4Q18

43

1Q19

HobokenTOWNHOUSES (1–4 UNITS)

The average sale price of Hoboken townhouses was $1,938,000, an increase of 6% over the same period the prior year. The median sale price displayed a considerable increase of 17%, reaching $1,900,000 as compared to just $1,630,000 prior year.

There were just 15 closed sales this term. Dwellings spent an average of 34 days on the market and sellers received approximately 97% of asking price, same as prior year period.

105%

100%

95%

90%

97.0%

2Q19

96.0%

3Q18

30

20

15

10

0

5

15

2Q19

18

3Q18

60 Days

50 Days

30 Days

20 Days

$1,800,000

$1,600,000

$1,400,000

$2,000,000

$2,200,000

AVERAGE AND MEDIAN SALES PRICE NUMBER OF SALES

TIME ON THE MARKET ASKING VS. SELLING PRICE

Average Sales Price Median Sales Price

$1,754,000 $1,763,000

3Q18

$1,938,000$1,900,000

2Q19

40 Days

25

34

2Q19

45

3Q18

Halstead 3

$1,835,000 $1,630,000

2Q18

18

2Q18

44

2Q18

97.0%

2Q18

$2,205,500 $2,020,000

1Q19

$1,754,800 $1,675,000

4Q18

17

4Q18

8

1Q19

97.5%

4Q18

104.0%

1Q19

42

4Q18

50

1Q19

$807,000 $753,000

3Q18

Downtown Jersey CityALL APARTMENTS

The average sale price of apartments in Downtown Jersey City showed a moderate 4% increase ending at $760,000. The median price also increased modestly, rising 2% to $690,000. The number of closed sales decreased 4% to 137 closed transactions comparing with the 143 closed sales from the same time last year. Sellers received 98% of their asking price with an average of 50 days on market.

98.0%

2Q19

100%

95%

90%

85%

99.0%

2Q18

98.0%

3Q18

180

160

140

120

100

40

80

137

2Q19

146

3Q18

40

3Q18

50

2Q19

$800,000

$700,000

$650,000

$600,000

$550,000

$850,000

$750,000

AVERAGE AND MEDIAN SALES PRICE NUMBER OF SALES

TIME ON THE MARKET ASKING VS. SELLING PRICE

Average Sales Price Median Sales Price

$760,000$690,000

2Q19

Halstead 4

$734,000 $677,000

2Q18

143

2Q18

34

2Q18

$785,900 $725,000

4Q18

$774,400 $687,500

1Q19

133

4Q18

114

1Q19

98.0%

4Q18

98.0%

1Q19

49

4Q18

49

1Q19

50 Days

30 Days

20 Days

10 Days

40 Days

Downtown Jersey CityTOWNHOUSES (1–4 UNITS)

The average sale price of Downtown Jersey City townhouses decreased 29% ending at $1,132,000. This was due to far fewer sales over $1.5mil as compared with prior year. The median sale price had similar performance and decreased 26% ending at $1,075,000.

There were 21 closed sales this period compared to only 15 transactions during same period last year. Properties had an average of 51 days on market with sellers receiving 97% of their asking price.

96.0%

3Q18

100%

95%

90%

85%

97.0%

2Q19

30

20

15

10

0

5

21

2Q19

23

3Q18

60 Days

50 Days

30 Days

20 Days

$1,500,000

$1,400,000

$1,300,000

$1,200,000

$1,000,000

$1,100,000

$1,600,000

AVERAGE AND MEDIAN SALES PRICE NUMBER OF SALES

TIME ON THE MARKET ASKING VS. SELLING PRICE

Average Sales Price Median Sales Price

$1,132,000 $1,075,000

2Q19

$1,439,000 $1,402,000

3Q18

40 Days

25

Halstead 5

$1,589,000 $1,450,000

2Q18

15

2Q18

98.0%

2Q18

$1,265,000 $1,298,000

4Q18

$1,461,000 $1,380,500

1Q19

23

4Q18

16

1Q19

97.0%

4Q18

94.0%

1Q19

33

3Q18

51

2Q19

38

2Q18

40

4Q18

41

1Q19

Halstead New Jersey, LLC.

Data is sourced from

Liberty/Hudson County MLS.

©2019 by Halstead New Jersey, LLC. All Rights Reserved. This information may

not be copied, commercially used or distributed without Halstead New Jersey’s

prior consent. While information is believed true, no guaranty is made

of accuracy.

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MANHATTANPARK AVENUE499 Park AvenueNew York, NY 10022212.734.0010

EAST SIDE770 Lexington AvenueNew York, NY 10065212.317.7800

WEST SIDE408 Columbus AvenueNew York, NY 10024212.769.3000

VILLAGE831 BroadwayNew York, NY 10003212.381.6500

SOHO451 West BroadwayNew York, NY 10012212.381.4200

HARLEM2169 Frederick Douglass BoulevardNew York, NY 10026212.381.2570

WASHINGTON HEIGHTS819 West 187th StreetNew York, NY 10033212.381.2452

BRONXRIVERDALE JOHNSON3531 Johnson AvenueRiverdale, NY 10463718.878.1700

BROOKLYNBROOKLYN HEIGHTS122 Montague StreetBrooklyn, NY 11201718.613.2000

PARK SLOPE160 7th AvenueBrooklyn, NY 11215718.878.1960

COBBLE HILL162 Court StreetBrooklyn, NY 11201718.613.2020

BEDFORD STUYVESANT1191 Bedford AvenueBrooklyn, NY 11216N/A

SOUTH SLOPE1214 8th AvenueBrooklyn, NY 11215718.878.1888

FORT GREENE725 Fulton StreetBrooklyn, NY 1127718.613.2800

BAY RIDGE8324 4th AvenueBrooklyn, NY 11209718.878.1880

QUEENSLONG ISLAND CITY47-12 Vernon BoulevardQueens, NY 1110718.878.1800

FOREST HILLS108-23 Ascan AvenueForest Hills, NY 11375718-520-0303

HUDSON VALLEYHUDSON526 Warren StreetHudson, NY 12534518.828.0181

CONNECTICUTDARIEN671 Boston Post RoadDarien, CT 06820203.655.1418

NEW CANAAN - ELM STREET183 Elm StreetNew Canaan, CT 06840203.966.7800

NEW CANAAN - SOUTH AVENUE6 South AvenueNew Canaan, CT 06840203,966.7772

ROWAYTON140 Rowayton AvenueRowayton, CT 06853203.655.1418

GREENWICH125 Mason StreetGreenwich, CT 06830203.869.8100

STAMFORD1099 High Ridge RoadStamford, CT 06905203.329.8801

WESTPORT379 Post Road EastWestport, CT 06880203.221.0666

WILTON21 River RoadWilton, CT 06897203.762.8118

NEW JERSEYHOBOKEN200 Washington StreetHoboken, NJ 07030201.478.6700

MONTCLAIR635 Valley Road, Montclair, NJ 07030973.744.6033

HAMPTONSEAST HAMPTON2 Newtown LaneEast Hampton, NY 11937 631.324.6100

SOUTHAMPTON31 Main StreetSouthampton, NY 11968631.283.2883

CORPORATECOMMERCIAL SALES770 Lexington AvenueNew York, NY 10065212.381.3208

DEVELOPMENT MARKETING445 Park AvenueNew York, NY 10022212.521.5703

GLOBAL SERVICES770 Lexington AvenueNew York, NY 10065212. 381.6521

MANAGEMENT COMPANY770 Lexington Avenue, 7th floorNew York, NY, 10065212.508.7272