METRO NJ REAL ESTATE MARKET REPORT HOBOKEN AND … · The real estate market in Hoboken and...
Transcript of METRO NJ REAL ESTATE MARKET REPORT HOBOKEN AND … · The real estate market in Hoboken and...
METRO NJ REAL ESTATE MARKET REPORT
1H 2012
HOBOKEN AND DOWNTOWN JERSEY CITY
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 2
MARKET RECAP
The real estate market in Hoboken and Downtown Jersey City has experienced a healthy recovery in activity
over the first half of 2012. The combination of rising rental prices in the NYC metro area (10-20% increase within
the past couple years) and record low interest rates (below 4% for a 30-year fixed mortgage) has brought buyers
out in significant numbers. The surge of real estate buyers combined with record low inventories has created a
competitive market for all property types in both Hoboken and Downtown Jersey City. We have seen an extraordi-
nary number of condo and townhome listings attracting multiple offers with many selling at asking or above asking
price.
Closed sales volume was up for both condos and townhome property types in Hoboken and Jersey City, with
a total growth of approximately 11% over the first half of 2011 and the 2nd half of 2012 moving from $290M to
$322M in closed sales. The townhome markets in both Hoboken and downtown Jersey City have seen the biggest
spike in transaction volume with approximately a third more sales than the same period last year.
We don't anticipate the usual market slowdown this Summer since many buyers were not able to find the
right property during the Spring buying season. With no relief in sight due to a near absence of new construction
development, we expect to see property values start to rise in the 2nd half of 2012.
Notable Positive Indicators - JERSEY CITY:
Number of Condo Closings: UP 13.5% from 1H2011 Under Contract within Period: UP 13.9% from 1H2011 Condo Sales Volume: UP 11.1% from 1H2011 Condo Inventory: DOWN 29.7% from 1H2011 Average Condo Discount from Last Asking: DOWN 33.3% from 1H2011 Townhome Sales Volume: UP 35.3% from 1H2011 Townhome Average Sales Price: UP 7.5% from 1H2011
Notable Positive Indicators - HOBOKEN:
Average Condo Price: UP 5.6% from 1H2011 Average Condo Price/SF: UP 5.7% from 1H2011 Condo Inventory: DOWN 37.2% from 1H2011 Under Contract within Period: UP 7.9% from 1H2011 Condo Sales Volume: UP 5.6% from 1H2011 Average Condo Discount from Last Asking: DOWN 17.8% from 1H2011 Townhome Sales Volume: UP 32.2% from 1H2011
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 3
TOTAL SALES VOLUME BY PROPERTY TYPE Property Type 1H 2012 2H 2011 % Change 1H 2011 % Change
Hoboken Condos $176,952,147 $168,781,613 4.8% $167,508,173 5.6%
Hoboken Townhomes $32,751,650 $26,239,500 24.8% $24,765,000 32.2%
Downtown JC Condos $89,131,931 $81,097,750 9.9% $80,190,787 11.1%
Downtown JC Townhomes $23,791,150 $15,493,250 53.6% $17,579,650 35.3%
Total Sales Volume $322,626,878 $291,612,113 10.6% $290,043,610 11.2%
Hoboken
Condos, $176,952,147
Hoboken Townhomes, $32,751,650
Downtown JC Condos,
$80,190,787
Downtown JC Townhomes, $23,791,150
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 4
CONDO MARKET REGIONAL COMPARISON 1st Half 2012 Downtown JC Hoboken Brooklyn* Manhattan
Average Sales Price $461,823 $511,422 $1,040,181 $1,804,276
Average Price / SqFt 447 474 805 1246 * Brooklyn Heights - Carroll Gardens - Cobble Hill - Columbia Street Waterfront - Dumbo - Red Hook
$461,823 $511,422
$1,040,181
$1,804,276
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
Downtown JC Hoboken Brooklyn* Manhattan
AVERAGE SALES PRICE
447 474
805
1246
$0
$400
$800
$1,200
$1,600
Downtown JC Hoboken Brooklyn* Manhattan
AVERAGE SALE PRICE PER SQFT
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 5
HOBOKEN CONDO MARKET SUMMARY
1H 2012 2H 2011 % Change 1H 2011 % Change
Average Sales Price $511,422 $516,152 -0.9% $484,128 5.6%
Average Price / SqFt 474 472 0.5% 449 5.7%
Total Value of Condos Sold $176,952,147 $168,781,613 4.8% $167,508,173 5.6%
Average DOM of Sold Condos 61.0 64.3 -5.2% 76.9 -20.6%
Inventory (months) 3.9 3.7 7.1% 6.2 -37.2%
On Market at Period End 226 200 13.0% 360 -37.2%
Listed within Period 577 465 24.1% 627 -8.0%
Under Contract within Period 437 298 46.6% 405 7.9%
Closed within Period 346 328 5.5% 346 0.0%
AVG % Discount from Original Asking -4.3% -4.8% -11.5% -5.5% -21.8%
AVG % Discount from Last Asking -2.8% -3.1% -9.6% -3.5% -17.8%
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 6
DOWNTOWN JERSEY CITY CONDO MARKET SUMMARY
1H 2012 2H 2011 % Change 1H 2011 % Change
Average Sales Price $461,823 $440,749 4.8% $471,711 -2.1%
Average Price / SqFt 447 428 4.4% 441 1.3%
Total Value of Condos Sold $89,131,931 $81,097,750 9.9% $80,190,787 11.1%
Average DOM of Sold Condos 77.3 77.5 -0.3% 78.7 -1.8%
Inventory (months) 4.1 10.0 -58.5% 6.7 -38.2%
On Market at Period End 192 249 -22.9% 273 -29.7%
Listed within Period 348 372 -6.5% 433 -19.6%
Under Contract within Period 279 150 86.0% 245 13.9%
Closed within Period 193 188 2.7% 170 13.5%
AVG % Discount from Original Asking -4.0% -5.4% -25.3% -6.3% -36.3%
AVG % Discount from Last Asking -2.8% -3.7% -23.0% -4.2% -33.3%
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 7
$208 $209
$259
$197$206
$225
$267
$215
$206
$194
$118
$201$210
$153
$168 $169$177
$56
$71$66
$89
$75 $75
$97
$118
$108
$87
$48
$76$84
$76$80 $81
$89
$0
$25
$50
$75
$100
$125
$150
$175
$200
$225
$250
$275
$300
$325
1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
Millions
TOTAL CONDO SALES VOLUME(MILLIONS) HOBOKEN
DOWNTOWN JC
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 8
$373k
$422k
$457k
$516k$526k
$510k
$535k
$517k
$536k
$515k$528k
$487k
$505k
$489k $484k
$516k $511k
$338k
$391k
$414k
$456k $458k$467k
$452k
$511k$501k $498k
$455k
$437k $434k
$467k $472k
$441k
$462k
$300k
$325k
$350k
$375k
$400k
$425k
$450k
$475k
$500k
$525k
$550k
$575k
$600k
1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
AVERAGE CONDO SALES PRICEHOBOKENDOWNTOWN JC
380
439
466
532 531520 521
558544
538
486476
468456
449
472 474
344
392
434
480491 488
478
500509
515
453
438
423 422
441428
447
300
325
350
375
400
425
450
475
500
525
550
575
600
1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
AVERAGE CONDO SALES PRICE PER SQFT
HOBOKEN
DOWNTOWN JC
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 9
77
86
49
85
6055 57
63
79 82
92
81
6672
49
2925
31
49
39 38
58
66
79
51
76
66
84
5046
6056
93
111
70
62
54 56 5450 52
41 42
54
8884
72
64
5458
5055
46
35
51
7378
70
90
75
0
20
40
60
80
100
120
140J-
07
A-0
7S-
07
O-0
7N
-07
D-0
7J-
08
F-0
8M
-08
A-0
8M
-08
J-0
8J-
08
A-0
8S-
08
O-0
8N
-08
D-0
8J-
09
F-0
9M
-09
A-0
9M
-09
J-0
9J-
09
A-0
9S-
09
O-0
9N
-09
D-0
9J-
10
F-1
0M
-10
A-1
0M
-10
J-1
0J-
10
A-1
0S-
10
O-1
0N
-10
D-1
0J-
11
F-1
1M
-11
A-1
1M
-11
J-1
1J-
11
A-1
1S-
11
O-1
1N
-11
D-1
1J-
12
F-1
2M
-12
A-1
2M
-12
J-1
2
HOBOKEN CONDOS - CONTRACTS SIGNED - PER MONTH
565532
556
448
560
309
480
423
596
412
454
272
329
373
452
307
404
298
437
0
100
200
300
400
500
600
700
800
1H2003 2H2003 1H2004 2H2004 1H2005 2H2005 1H2006 2H2006 1H2007 2H2007 1H2008 2H2008 1H2009 2H2009 1H2010 2H2010 1H2011 2H2011 1H2012
HOBOKEN CONDOS - CONTRACTS SIGNED PER 6 MONTH PERIOD
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 10
4843
40
3429
13
3034
38
47
31
45
26 2730
13
19
13 1419 18
23
37
30
4044
27
3531
28
20
3942
59
28
38
2724
2833
25
34
24
33
51
36
50
60
3025 25
2124 22
44 42
58
4348
44
0
10
20
30
40
50
60
70
80
90
J-0
7A
-07
S-0
7O
-07
N-0
7D
-07
J-0
8F-
08
M-0
8A
-08
M-0
8J-
08
J-0
8A
-08
S-0
8O
-08
N-0
8D
-08
J-0
9F-
09
M-0
9A
-09
M-0
9J-
09
J-0
9A
-09
S-0
9O
-09
N-0
9D
-09
J-1
0F-
10
M-1
0A
-10
M-1
0J-
10
J-1
0A
-10
S-1
0O
-10
N-1
0D
-10
J-1
1F-
11
M-1
1A
-11
M-1
1J-
11
J-1
1A
-11
S-1
1O
-11
N-1
1D
-11
J-1
2F-
12
M-1
2A
-12
M-1
2J-
12
DOWNTOWN JERSEY CITY - CONTRACTS SIGNED - PER MONTH
271
178
239
170
230
202
299
207225
128141
205226
171
254
147
279
0
50
100
150
200
250
300
350
400
450
1H2004 2H2004 1H2005 2H2005 1H2006 2H2006 1H2007 2H2007 1H2008 2H2008 1H2009 2H2009 1H2010 2H2010 1H2011 2H2011 1H2012
DOWNTOWN JERSEY CITY - CONTRACTS SIGNED PER 6 MONTH PERIOD
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 11
537
425
390377
491501
556
444
511
347360
200
226
384
332
358
302
273
249
192
0
100
200
300
400
500
600
700
1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12
ACTIVE LISTINGS AT PERIOD END(CONDOS)
HOBOKEN
DOWNTOWN JC
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 12
HOBOKEN TOWNHOME SALES SUMMARY
1H2012 2H2011 % Change 1H2011 % Change
Average Sales Price $1,129,367 $1,049,580 7.6% $1,125,682 0.3%
1 Family Average Sales Price $1,253,775 $1,121,500 11.8% $1,105,667 13.4%
2 Family Average Sales Price $755,725 $1,021,875 -26.0% $1,229,665 -38.5%
3 Family Average Sales Price $930,650 $888,250 4.8% $830,000 12.1%
Average % Discount From Asking -3.4% -4.3% -20.5% -2.8% 21.5%
# Closed 29 25 16.0% 22 31.8%
Average Closed per Month 4.8 4.2 16.0% 3.7 31.8%
Average Days on Market 78 82 -5.0% 43 83.4%
1 Family Total Sales Volume $25,075,500 $16,822,500 49.1% $13,268,000 89.0%
2 Family Total Sales Volume $3,022,900 $4,087,500 -26.0% $9,837,000 -69.3%
3 Family Total Sales Volume $4,653,250 $5,329,500 -12.7% $1,660,000 180.3%
Grand Total Sales Volume $32,751,650 $26,239,500 24.8% $24,765,000 32.2%
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 13
SINGLE FAMILY HOBOKEN TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASK-ING
One Family 12 WILLOW TERRACE 12.5 x 50.14 2 36 4/30/2012 $474,900 $435,000 -8.4%
One Family 16 WILLOW TERRACE 12.58 x 50 2 19 3/27/2012 $575,000 $570,000 -0.9%
One Family 216 8TH ST 15 x 35 3 76 3/12/2012 $850,000 $810,000 -4.7%
One Family 1300 BLOOMFIELD ST 17.16 x 65 3 3 3/30/2012 $899,900 $850,000 -5.5%
One Family 1122 GARDEN ST 13 x 100 4 10 5/9/2012 $999,000 $990,000 -0.9%
One Family 1203 PARK AVE 16.47 x 80 4 61 3/7/2012 $1,125,000 $1,025,000 -8.9%
One Family 207 8TH ST 17 x 55 3 159 3/30/2012 $1,099,000 $1,065,000 -3.1%
One Family 327 BLOOMFIELD ST 12.5 x 70 5 24 4/10/2012 $1,099,000 $1,100,000 0.1%
One Family 709 PARK AVE 15 x 100 3 19 6/20/2012 $1,150,000 $1,120,000 -2.6%
One Family 159 11TH ST 16.66 x 80 4 159 5/25/2012 $1,399,000 $1,356,000 -3.1%
One Family 819 GARDEN ST 13.58 x 100 4 78 6/22/2012 $1,395,000 $1,385,000 -0.7%
One Family 821 GARDEN ST 13.58 x 100 4 140 6/27/2012 $1,395,000 $1,400,000 0.4%
One Family 1227 BLOOMFIELD ST 15 x 75 4 13 6/21/2012 $1,425,000 $1,405,000 -1.4%
One Family 945 BLOOMFIELD ST 14.75 x 75 4 9 5/21/2012 $1,400,000 $1,406,000 0.4%
One Family 508 OBSERVER HIGHWAY 25.11 x 100 4 173 4/17/2012 $1,625,000 $1,425,000 -12.3%
One Family 1302 GARDEN ST 17.45 x 70 4 16 6/27/2012 $1,595,000 $1,639,500 2.8%
One Family 929 BLOOMFIELD ST 17 x 75 5 124 3/16/2012 $1,825,000 $1,719,000 -5.8%
One Family 802 HUDSON ST 19.67 x 88 5 181 6/5/2012 $1,865,000 $1,725,000 -7.5%
One Family 1206 BLOOMFIELD ST 15.59 x 100 4 7 6/5/2012 $1,719,000 $1,755,000 2.1%
One Family 1230 GARDEN ST 15.12 x 100 5 1 4/19/2012 $1,895,000 $1,895,000 0.0%
AVERAGE 3.8 65 $1,290,490 $1,253,775 -3.0%
TOTAL VALUE $25,075,500
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 14
TWO FAMILY HOBOKEN TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASKING
2 Family 319 WILLOW AVE 16.16x100 5 391 6/16/2012 $599,900 $599,900 0.0%
2 Family 158 13TH ST 16 x 75 3 52 2/10/2012 $699,000 $610,000 -12.7%
2 Family 92 GARDEN ST 21.48 x 59.88 5 1 3/16/2012 $750,000 $750,000 0.0%
2 Family 1028 PARK AVE 13.66 x 100 5 94 2/21/2012 $1,139,500 $1,063,000 -6.7%
AVERAGE 4.5 135 $797,100 $755,725 -4.9%
TOTAL VALUE $3,022,900
THREE FAMILY HOBOKEN TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASKING
3 Family 420 BLOOMFIELD ST 16.67 x 80 4 104 2/2/2012 $825,000 $684,250 -17.1%
3 Family 68 10TH ST 20 x 65.5 4 194 5/5/2012 $899,000 $920,000 2.3%
3 Family 256 6TH ST 31.5 x 32.5 4 39 6/29/2012 $989,000 $939,000 -5.1%
3 Family 702 BLOOMFIELD ST 20 x 100 6 64 2/1/2012 $1,049,000 $1,050,000 0.1%
3 Family 502 BLOOMFIELD ST 23 x 70 7 23 4/3/2012 $1,050,000 $1,060,000 1.0%
AVERAGE 5.0 85 $962,400 $930,650 -3.7%
TOTAL VALUE $4,653,250
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 15
DOWNTOWN JERSEY CITY TOWNHOME SALES SUMMARY
1H2012 2H2011 % Change 1H2011 % Change
Average Sales Price $699,740 $737,774 -5.2% $651,098 7.5%
1 Family Average Sales Price $616,708 $652,850 -5.5% $589,465 4.6%
2 Family Average Sales Price $747,063 $852,250 -12.3% $682,000 9.5%
3 Family Average Sales Price $742,590 $715,583 3.8% $695,000 6.8%
Average % Discount From Asking -5.1% -6.4% -20.6% -6.4% -20.6%
# Closed 34 21 61.9% 27 25.9%
Average Closed per Month 5.7 3.5 61.9% 4.5 25.9%
Average Days on Market 76 73 4.9% 82 -7.3%
1 Family Total Sales Volume $7,400,500 $6,528,500 13.4% $5,894,650 25.5%
2 Family Total Sales Volume $8,964,750 $6,818,000 31.5% $6,820,000 31.4%
3 Family Total Sales Volume $7,425,900 $2,146,750 245.9% $4,865,000 52.6%
Grand Total Sales Volume $23,791,150 $15,493,250 53.6% $17,579,650 35.3%
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 16
SINGLE FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASK-ING
One Family 354 1/2 4TH ST 12.5 x 95 2 10 1/13/2012 $200,000 $175,000 -12.5%
One Family 366 5TH ST 12.5 x 50 2 89 4/9/2012 $399,900 $378,000 -5.5%
One Family 327.5 4TH ST 12.5 x 62.5 3 10 4/12/2012 $489,000 $472,000 -3.5%
One Family 144 ERIE ST 19.33 x 68.83 3 131 4/30/2012 $599,000 $515,000 -14.0%
One Family 287 5TH ST 16.67 x 90 3 17 1/31/2012 $589,000 $560,000 -4.9%
One Family 311 9TH ST 20 x 100 3 38 2/15/2012 $639,000 $625,000 -2.2%
One Family 122 MERCER ST 13.17 x 100 5 102 6/14/2012 $669,900 $655,000 -2.2%
One Family 175 COLES ST 20 x 100 3 50 3/28/2012 $685,000 $665,000 -2.9%
One Family 505 MANILA AVE 16 x 107.5 3 167 5/15/2012 $688,000 $665,000 -3.3%
One Family 177 COLES ST 20 x 100 3 24 1/10/2012 $685,000 $690,500 0.8%
One Family 18.5 WEST HAMILTON PL 12.5 x 70 3 13 1/31/2012 $849,000 $860,000 1.3%
One Family 321 YORK ST 17 x 100 4 28 4/26/2012 $1,175,000 $1,140,000 -3.0%
AVERAGE 3.1 57 $638,983 $616,708 -4.3%
TOTAL VALUE $7,400,500
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 17
TWO FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASK-ING
2 Family 351 5TH ST 17 x 95 3 8 4/20/2012 $485,000 $430,000 -11.3%
2 Family 337 8TH ST 16.67 x 50 3 211 6/21/2012 $519,000 $510,000 -1.7%
2 Family 184 CHRISTOPHER COLUM- 20 x 60 4 132 3/19/2012 $539,900 $515,000 -4.6%
2 Family 234 1ST ST 19.67 x 56 3 153 6/8/2012 $630,000 $595,000 -5.6%
2 Family 284 1/2 6TH ST 14 x 62.5 4 75 1/13/2012 $635,000 $620,000 -2.4%
2 Family 350 PAVONIA AVE 25 x 100 3 105 5/21/2012 $695,000 $650,000 -6.5%
2 Family 35 WAYNE ST 32 x 50 IRR 4 5 3/19/2012 $799,000 $740,000 -7.4%
2 Family 387 YORK ST 16.67 x 70 3 108 6/12/2012 $795,000 $770,000 -3.1%
2 Family 294 8TH ST 16 x 50 5 46 6/22/2012 $979,000 $930,000 -5.0%
2 Family 339 YORK ST 16.67 x 75 4 126 3/27/2012 $975,000 $950,000 -2.6%
2 Family 139 SUSSEX ST 22 x 100 5 47 1/10/2012 $1,195,000 $1,095,000 -8.4%
2 Family 330 YORK ST 16.67 x 100 4 20 6/19/2012 $1,235,000 $1,159,750 -6.1%
AVERAGE 3.8 86 $790,158 $747,063 -5.4%
TOTAL VALUE $8,964,750
METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 18
THREE FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE TOTAL BEDs
DAYS ON MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM ASK-ING
3 Family 227 BRUNSWICK ST 19 x 50 3 166 5/25/2012 $449,000 $415,000 -7.6%
3 Family 18 MERCER ST 16.67 x 75.28 3 100 6/12/2012 $625,000 $620,000 -0.8%
3 Family 291 PAVONIA AVE 16.67 x 50 4 82 1/30/2012 $800,000 $685,000 -14.4%
3 Family 232 1/2 3RD ST 16.67 x 75 4 8 6/6/2012 $709,900 $709,900 0.0%
3 Family 562.5 JERSEY AVE 17 x 61 4 159 4/6/2012 $800,000 $725,000 -9.4%
3 Family 281.5 2ND ST 16.67 x 100 2 157 5/22/2012 $739,000 $731,000 -1.1%
3 Family 296 PAVONIA AVE 16.67 x 100 4 121 4/16/2012 $825,000 $785,000 -4.8%
3 Family 342 PAVONIA AVE 25 x 100 6 8 4/20/2012 $850,000 $840,000 -1.2%
3 Family 237 GROVE ST 20 x 80 4 16 3/30/2012 $875,000 $875,000 0.0%
3 Family 53.5-55 MERCER ST 33.34 x 100 2 60 3/15/2012 $1,250,000 $1,040,000 -16.8%
AVERAGE 3.6 88 $792,290 $742,590 -5.6%
TOTAL VALUE $7,425,900
METRO NJ REAL ESTATE MARKET REPORT
METRO NJ OFFICE: 79 Hudson Street, Hoboken NJ, 201.478.6700
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PREPARED BY: HUDSON REALTY GROUP AT HALSTEAD PROPERTY NJ LLC
©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without Halstead
Property’s prior consent. This data includes all condos that were listed in within the Hudson County MLS, MLS records do not include some new construction developments. While
information is believed true, no guaranty is made of accuracy.