Contenu connexe
Similaire à HRG Metro NJ Real Estate Market Report 2H 2012
Similaire à HRG Metro NJ Real Estate Market Report 2H 2012 (20)
HRG Metro NJ Real Estate Market Report 2H 2012
- 1. METRO NJ REAL ESTATE MARKET REPORT
2H 2012
HOBOKEN AND DOWNTOWN JERSEY CITY
- 2. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 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 continued to rebound during the second half of 2012 with average
selling prices, price/SF and sales volume all trending upwards. The combination of rising rental prices in the NYC metro area (15-
20% increase within the past couple years) and record low interest rates (around 3.5% for a 30-year fixed mortgage) are shift-
ing tenants into the market. The growth in amount of buyers combined with record low inventories has created a competitive
market for all property types in both Hoboken and Downtown Jersey City. In the 2nd half of 2012, we saw an significant number
of listings attract multiple offers, driving down the average days on the market and tightening up the average discount from ask-
ing price to less than 3% for condos and 4-5% for townhomes.
Just how low is our current inventory? At the start of 2013, there were only 116 condos on the market in Hoboken, down from a
high of 556 condos on the market in mid-2009! In Downtown Jersey City, there were 83 condos on the market, down from a
high of 384 in mid-2009. Considering it takes almost 2 years to deliver a significantly sized building in this area, we’re hoping res-
idential developers will take note of this situation and start planning some condominium developments immediately.
After Superstorm Sandy hit Hoboken and Jersey City on October 30th, the real estate market was brought to a near standstill for
2-3 weeks then got back on track finishing the year with only 4% less Hoboken condo contracts signed in Nov and Dec and 35%
more contracts signed in Downtown Jersey city compared to the same period of 2011. Considering the robust demand for real
estate within close proximity to Manhattan and ultra low inventory levels, we don’t foresee a lasting impact in the overall mar-
ket. With a near absence of new construction development and an expected continuation of record low interest rates, we ex-
pect to see property values continue to rise throughout 2013.
POSITIVE INDICATORS - DOWNTOWN JERSEY CITY:
Average Condo Sales Price: UP 11.1% from 2H2011
Number of Condo Closings: UP 28.2% from 2H2011
Under Contract within Period: UP 74% from 2H2011
Condo Sales Volume: UP 45.5% from 2H2011
Condo Inventory: DOWN 78.5% from 2H2011
Avg Condo Discount from Last Asking: DOWN 29.9% from 2H2011
Townhome Sales Volume: UP 120.6% from 2H2011
Townhome Average Sales Price: UP 6.2% from 1H2012
POSITIVE INDICATORS - HOBOKEN:
Average Condo Sales Price: UP 2.7% from 1H2012
Average Condo Price/SF: UP 5.1% from 1H2012
Average Days on Market: DOWN 22.0% from 2H2011
Condo Inventory: DOWN 48.7% from 1H2012
Under Contract within Period: UP 11.4% from 2H2011
Condo Sales Volume: UP 24.1% from 2H2011
Avg Condo Discount from Last Asking: DOWN 26% from 1H2012
Townhome Sales Volume: UP 50.1% from 2H2011
- 3. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
3
TOTAL SALES VOLUME BY PROPERTY TYPE
Property Type 2H2012 1H2012 % Change 2H2011 % Change
Hoboken Condos $209,487,291 $176,952,147 18.4% $168,781,613 24.1%
Hoboken Townhomes $39,390,250 $32,751,650 20.3% $26,239,500 50.1%
Downtown JC Condos $118,021,671 $89,131,931 32.4% $81,097,750 45.5%
Downtown JC Townhomes $34,185,099 $23,791,150 43.7% $15,493,250 120.6%
Total Sales Volume $401,084,311 $322,626,878 24.3% $291,612,113 37.5%
Hoboken
Condos,
$209,487,291
Hoboken
Townhomes,
$39,390,250
Downtown JC
Condos,
$80,190,787
Downtown JC
Townhomes,
$34,185,099
- 4. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
4
CONDO MARKET REGIONAL COMPARISON
2nd Half 2012 Downtown JC Hoboken Brooklyn* Manhattan
Average Sales Price $489,716 $525,031 $989,344 $1,779,404
Average Price / SqFt 464 498 829 1273
* Brooklyn Heights - Carroll Gardens - Cobble Hill - Columbia Street Waterfront - Dumbo - Red Hook
$489,716 $525,031
$989,344
$1,779,404
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
Downtown JC Hoboken Brooklyn* Manhattan
AVERAGE SALES PRICE
464 498
829
1273
$0
$400
$800
$1,200
$1,600
Downtown JC Hoboken Brooklyn* Manhattan
AVERAGE SALE PRICE PER SQFT
- 5. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
5
HOBOKEN CONDO MARKET SUMMARY
2H2012 1H2012 % Change 2H2011 % Change
Average Sales Price $525,031 $511,422 2.7% $516,152 1.7%
Average Price / SqFt 498 474 5.1% 472 5.6%
Total Value of Condos Sold $209,487,291 $176,952,147 18.4% $168,781,613 24.1%
Average DOM of Sold Condos 50.1 61.0 -17.8% 64.3 -22.0%
Inventory (months) 1.7 3.9 -55.5% 3.7 -52.3%
On Market at Period End 116 226 -48.7% 200 -42.0%
Listed within Period 313 577 -45.8% 465 -32.7%
Under Contract within Period 332 437 -24.0% 298 11.4%
Closed within Period 399 346 15.3% 328 21.6%
AVG % Discount from Original Asking -3.2% -4.3% -26.0% -4.8% -34.5%
AVG % Discount from Last Asking -2.1% -2.8% -27.8% -3.1% -34.7%
- 6. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
6
DOWNTOWN JERSEY CITY CONDO MARKET SUMMARY
2H2012 1H2012 % Change 2H2011 % Change
Average Sales Price $489,716 $461,823 6.0% $440,749 11.1%
Average Price / SqFt 464 447 3.7% 428 8.3%
Total Value of Condos Sold $118,021,671 $89,131,931 32.4% $81,097,750 45.5%
Average DOM of Sold Condos 53.5 77.3 -30.8% 77.5 -31.0%
Inventory (months) 2.1 4.1 -48.2% 10.0 -78.5%
On Market at Period End 93 192 -51.6% 249 -62.7%
Listed within Period 242 348 -30.5% 372 -34.9%
Under Contract within Period 261 279 -6.5% 150 74.0%
Closed within Period 241 193 24.9% 188 28.2%
AVG % Discount from Original Asking -3.6% -4.0% -9.2% -5.4% -32.2%
AVG % Discount from Last Asking -2.6% -2.8% -8.9% -3.7% -29.9%
- 7. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 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
$209
$56
$71
$66
$89
$75 $75
$97
$118
$108
$87
$48
$76
$84
$76
$80 $81
$89
$118
$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 2H12
Millions
TOTAL CONDO SALES VOLUME
(MILLIONS) HOBOKEN
DOWNTOWN JC
- 8. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 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
$525k
$338k
$391k
$414k
$456k $458k
$467k
$452k
$511k
$501k $498k
$455k
$437k $434k
$467k $472k
$441k
$462k
$490k
$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 2H12
AVERAGE CONDO SALES PRICE
HOBOKEN
DOWNTOWN JC
380
439
466
532 531
520 521
558
544
538
486
476
468
456
449
472 474
498
344
392
434
480
491 488
478
500
509
515
453
438
423 422
441
428
447
464
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 2H12
AVERAGE CONDO SALES PRICE PER SQFT
HOBOKEN
DOWNTOWN JC
- 9. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
9
57
63
79 82
92
81
66
72
49
29
25
31
49
39 38
58
66
79
51
76
66
84
50
46
60
56
93
111
70
62
54 56 54
50 52
41 42
54
88
84
72
64
54
58
50
55
46
35
51
73
78
70
90
75
70
63
56
68
33
45
0
20
40
60
80
100
120
140
J-08
F-08
M-08
A-08
M-08
J-08
J-08
A-08
S-08
O-08
N-08
D-08
J-09
F-09
M-09
A-09
M-09
J-09
J-09
A-09
S-09
O-09
N-09
D-09
J-10
F-10
M-10
A-10
M-10
J-10
J-10
A-10
S-10
O-10
N-10
D-10
J-11
F-11
M-11
A-11
M-11
J-11
J-11
A-11
S-11
O-11
N-11
D-11
J-12
F-12
M-12
A-12
M-12
J-12
J-12
A-12
S-12
O-12
N-12
D-12
HOBOKEN CONDOS - CONTRACTS SIGNED - PER MONTH
565
532
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
- 10. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
10
30
34
38
47
31
45
2627
30
13
19
1314
1918
23
37
30
40
44
27
35
31
28
20
39
42
59
28
38
27
24
28
33
25
34
24
33
51
36
50
60
30
2525
21
2422
4442
58
43
48
44
38
51
58
52
28
34
0
10
20
30
40
50
60
70
80
90
J-08
F-08
M-08
A-08
M-08
J-08
J-08
A-08
S-08
O-08
N-08
D-08
J-09
F-09
M-09
A-09
M-09
J-09
J-09
A-09
S-09
O-09
N-09
D-09
J-10
F-10
M-10
A-10
M-10
J-10
J-10
A-10
S-10
O-10
N-10
D-10
J-11
F-11
M-11
A-11
M-11
J-11
J-11
A-11
S-11
O-11
N-11
D-11
J-12
F-12
M-12
A-12
M-12
J-12
J-12
A-12
S-12
O-12
N-12
D-12
DOWNTOWN JERSEY CITY - CONTRACTS SIGNED - PER MONTH
271
178
239
170
230
202
299
207
225
128
141
205
226
171
254
147
279
261
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 2H2012
DOWNTOWN JERSEY CITY - CONTRACTS SIGNED PER 6 MONTH PERIOD
- 11. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
11
537
425
390
377
491
501
556
444
511
347
360
200
226
116
384
332
358
302
273
249
192
93
0
100
200
300
400
500
600
700
1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 2H12
ACTIVE LISTINGS AT PERIOD END
(CONDOS)
HOBOKEN
DOWNTOWN JC
- 12. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
12
HOBOKEN TOWNHOME SALES SUMMARY
2H2012 1H2012 % Change 2H2011 % Change
Average Sales Price $1,193,644 $1,129,367 5.7% $1,049,580 13.7%
1 Family Average Sales Price $1,132,813 $1,253,775 -9.6% $1,121,500 1.0%
2 Family Average Sales Price $1,487,938 $755,725 96.9% $1,021,875 45.6%
3 Family Average Sales Price $1,040,194 $930,650 11.8% $888,250 17.1%
Average % Discount From Asking -4.0% -3.4% 19.0% -4.3% -5.4%
# Closed 33 29 13.8% 25 32.0%
Average Closed per Month 5.5 4.8 13.8% 4.2 32.0%
Average Days on Market 44 78 -44.1% 82 -46.9%
1 Family Total Sales Volume $18,125,000 $25,075,500 -27.7% $16,822,500 7.7%
2 Family Total Sales Volume $11,903,500 $3,022,900 293.8% $4,087,500 191.2%
3 Family Total Sales Volume $9,361,750 $4,653,250 101.2% $5,329,500 75.7%
Grand Total Sales Volume $39,390,250 $32,751,650 20.3% $26,239,500 50.1%
- 13. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 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
ASKING
One Family 40 WILLOW TERRACE 12.42 x 50 3 32 12/10/2012 $550,000 $495,000 -10.0%
One Family 105 WILLOW TERRACE 12.61 x 50 3 75 12/10/2012 $650,000 $600,000 -7.7%
One Family 211 7TH ST 17 x 49 4 19 8/15/2012 $861,000 $861,000 0.0%
One Family 161 12TH ST 20 x 43 3 66 9/21/2012 $879,000 $885,000 0.7%
One Family 715 PARK AVE 15.7 x 100 3 16 7/31/2012 $995,000 $965,000 -3.0%
One Family 1225 PARK AVE 15.89 x 100 3 178 8/22/2012 $1,050,000 $985,000 -6.2%
One Family 256 7TH ST 17 x 60 3 14 8/30/2012 $1,199,000 $1,219,000 1.7%
One Family 716 PARK AVE 16.10 x 100 5 8 7/31/2012 $1,265,000 $1,250,000 -1.2%
One Family 264 10TH ST 19 x 61 5 123 8/15/2012 $1,275,000 $1,229,000 -3.6%
One Family 1235 GARDEN ST 16 x 100 3 34 7/3/2012 $1,299,000 $1,275,000 -1.8%
One Family 1303 GARDEN ST 17 x 70 3 62 12/28/2012 $1,325,000 $1,100,000 -17.0%
One Family 1233 BLOOMFIELD ST 15 x 75 4 36 9/28/2012 $1,349,000 $1,300,000 -3.6%
One Family 127 BLOOMFIELD ST 20 x 70 5 45 8/15/2012 $1,370,000 $1,316,000 -3.9%
One Family 1111 BLOOMFIELD ST 17.37 x 75 4 67 7/9/2012 $1,399,000 $1,350,000 -3.5%
One Family 1009 BLOOMFIELD ST 15 x 75 3 5 11/19/2012 $1,399,000 $1,400,000 0.1%
One Family 1242 GARDEN ST 15.21 x 100 2 7 8/30/2012 $1,895,000 $1,895,000 0.0%
AVERAGE 3.5 49 $1,172,500 $1,132,813 -3.7%
TOTAL VALUE $18,125,000
- 14. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 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 113 BLOOMFIELD ST 18.75 x 50 3 21 10/4/2012 $1,039,000 $999,000 -3.8%
2 Family 92 GRAND ST 25 x 82 7 0 12/19/2012 $1,025,000 $1,024,500 0.0%
2 Family 930 BLOOMFIELD ST 17.25 x 100 6 30 7/12/2012 $1,179,000 $1,100,000 -6.7%
2 Family 210 11TH ST 16.14 x 75 IRR 5 89 8/29/2012 $1,325,000 $1,355,000 2.3%
2 Family 1231 BLOOMFIELD ST 15 x 75 4 28 12/6/2012 $1,599,000 $1,525,000 -4.6%
2 Family 839 GARDEN ST 15.25 x 100 5 23 10/26/2012 $1,595,000 $1,650,000 3.4%
2 Family 632 BLOOMFIELD ST 16 x 95 4 1 7/6/2012 $1,750,000 $1,750,000 0.0%
2 Family 926 CASTLE POINT TERRACE 45 x 95 12 38 9/12/2012 $2,750,000 $2,500,000 -9.1%
AVERAGE 5.8 29 $1,532,750 $1,487,938 -2.3%
TOTAL VALUE $11,903,500
- 15. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
15
THREE FAMILY HOBOKEN TOWNHOMES - CLOSED
TYPE ADDRESS LOT SIZE
TOTAL
BEDs
DAYS ON
MARKET CLOSING DATE ASKING PRICE SOLD PRICE
% FROM
ASKING
3 Family 121 MONROE ST 25 x 100 5 18 12/14/2012 $750,000 $745,750 -0.6%
3 Family 907 PARK AVE 13.52 x 100 5 0 9/19/2012 $860,000 $860,000 0.0%
3 Family 166 6TH ST 19 x 53 4 49 12/6/2012 $979,000 $875,000 -10.6%
3 Family 1234 PARK AVE 20.2 x 82 6 116 12/28/2012 $1,050,000 $875,000 -16.7%
3 Family 211 GARDEN ST 16.75 x 100 4 38 9/24/2012 $925,000 $900,000 -2.7%
3 Family 520 BLOOMFIELD ST 20 x 100 5 54 12/6/2012 $1,150,000 $990,000 -13.9%
3 Family 220 WILLOW AVE 25 x 100 6 27 11/7/2012 $1,150,000 $1,087,000 -5.5%
3 Family 162 5TH ST 19 x 75 7 91 8/16/2012 $1,089,000 $1,089,000 0.0%
3 Family 926 HUDSON ST 21.25 x 110 4 34 11/30/2012 $2,050,000 $1,940,000 -5.4%
AVERAGE 5.1 47 $1,111,444 $1,040,194 -6.1%
TOTAL VALUE $9,361,750
- 16. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
16
DOWNTOWN JERSEY CITY TOWNHOME SALES SUMMARY
2H2012 1H2012 % Change 2H2011 % Change
Average Sales Price $743,154 $699,740 6.2% $737,774 0.7%
1 Family Average Sales Price $639,156 $616,708 3.6% $652,850 -2.1%
2 Family Average Sales Price $801,778 $747,063 7.3% $852,250 -5.9%
3 Family Average Sales Price $793,883 $742,590 6.9% $715,583 10.9%
Average % Discount From Asking -5.3% -5.1% 3.4% -6.4% -17.5%
# Closed 46 34 35.3% 21 119.0%
Average Closed per Month 7.7 5.7 34.5% 3.5 119.0%
Average Days on Market 64 76 -16.3% 73 -12.5%
1 Family Total Sales Volume $10,226,500 $7,400,500 38.2% $6,528,500 56.6%
2 Family Total Sales Volume $14,431,999 $8,964,750 61.0% $6,818,000 111.7%
3 Family Total Sales Volume $9,526,600 $7,425,900 28.3% $2,146,750 343.8%
Grand Total Sales Volume $34,185,099 $23,791,150 43.7% $15,493,250 120.6%
- 17. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
17
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 309 4TH ST 12.5 x 95 0 9 9/21/2012 $199,999 $135,000 -32.5%
One Family 309.5 4TH ST 12.5 x 95 0 9 9/21/2012 $199,999 $158,500 -20.7%
One Family 331 7TH ST 12.5 x 50 2 20 12/21/2012 $450,000 $435,000 -3.3%
One Family 84 COLGATE ST 20 x 80 3 100 8/14/2012 $519,000 $480,000 -7.5%
One Family 56 ERIE ST 19.7 x 20 2 57 8/24/2012 $529,000 $520,000 -1.7%
One Family 319 7TH ST 16.33 x 50 4 221 10/23/2012 $535,000 $505,000 -5.6%
One Family 510 1/2 MONMOUTH ST 12.5 x 50 3 47 8/3/2012 $585,000 $545,000 -6.8%
One Family 232.5 4TH ST 15 x 50 3 22 8/31/2012 $625,000 $625,000 0.0%
One Family 360 5TH ST 15 x 95 3 36 9/25/2012 $649,000 $620,000 -4.5%
One Family 297 9TH ST 20 x 100 3 17 7/20/2012 $659,900 $660,000 0.0%
One Family 228 1/2 3RD ST 16.67 x 75 3 114 7/11/2012 $749,000 $749,000 0.0%
One Family 236 1/2 7TH ST 13.5 x 100 4 13 9/6/2012 $749,000 $790,000 5.5%
One Family 304 8TH ST 16.67 x 50 3 54 12/13/2012 $849,000 $835,000 -1.6%
One Family 6 WEST HAMILTON PL 16.67 x 60 5 167 11/21/2012 $1,050,000 $999,000 -4.9%
One Family 165 YORK ST 21 x 100 3 58 8/14/2012 $1,099,000 $995,000 -9.5%
One Family 52 MERCER ST 25 x 100 5 33 7/25/2012 $1,200,000 $1,175,000 -2.1%
AVERAGE 2.9 61 $665,494 $639,156 -6.0%
TOTAL VALUE $10,226,500
- 18. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
18
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 286 5TH ST 16.33 x 95 4 1 8/2/2012 $359,000 $350,000 -2.5%
2 Family 385 1ST ST 30.50 x 70 9 10 7/2/2012 $375,000 $300,000 -20.0%
2 Family 346 5TH ST 16.67 x 95 3 94 7/11/2012 $419,000 $400,000 -4.5%
2 Family 236 1ST ST 19.67 x 56 5 16 8/16/2012 $549,900 $530,000 -3.6%
2 Family 346 4TH ST 25 x 95 6 22 8/17/2012 $649,000 $615,000 -5.2%
2 Family 139 BRIGHT ST 19 x 53 3 106 7/31/2012 $689,000 $640,000 -7.1%
2 Family 329 1/2 8TH ST 12.5 x 50 3 14 10/12/2012 $739,000 $725,000 -1.9%
2 Family 336 5TH ST 25 x 50 3 12 11/28/2012 $750,000 $700,000 -6.7%
2 Family 268 4TH ST 20 x 100 5 47 8/13/2012 $790,000 $650,000 -17.7%
2 Family 558.5 JERSEY AVE 16.67 x 61 3 1 12/20/2012 $795,000 $740,000 -6.9%
2 Family 336 YORK ST 16.67 x 66 4 38 12/6/2012 $915,000 $924,500 1.0%
2 Family 273 8TH ST 15 x 60 5 13 8/30/2012 $989,000 $967,500 -2.2%
2 Family 586 JERSEY AVE 25 x 100 5 21 8/27/2012 $999,000 $999,999 0.1%
2 Family 6 HAMPTON CT TERRACE 15 x 70 5 150 9/14/2012 $1,050,000 $985,000 -6.2%
2 Family 165 YORK ST 21 x 100 3 71 8/14/2012 $1,099,000 $995,000 -9.5%
2 Family 143 MERCER ST 20 x 65 4 7 11/29/2012 $1,200,000 $1,100,000 -8.3%
2 Family 100 GRAND ST 18 x 100 6 382 9/13/2012 $1,375,000 $1,310,000 -4.7%
2 Family 210 WASHINGTON ST 25.6 x 100 11 44 8/29/2012 $1,580,000 $1,500,000 -5.1%
AVERAGE 4.8 58 $851,217 $801,778 -6.2%
TOTAL VALUE $14,431,999
- 19. METRO NJ REAL ESTATE MARKET REPORT
MARKET ANALYSIS 2H 2012
©2013 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved.
19
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 199 BAY ST 25 x 100 6 22 7/30/2012 $550,000 $509,000 -7.5%
3 Family 412 2ND ST 20 x 80 6 0 9/6/2012 $575,000 $550,000 -4.3%
3 Family 166 GRAND ST 21 x 100 8 416 8/27/2012 $575,000 $565,000 -1.7%
3 Family 265 3RD ST 25 x 100 4 133 8/13/2012 $649,000 $612,500 -5.6%
3 Family 348 1/2 5TH ST 16.67 x 95 6 0 10/15/2012 $670,000 $660,000 -1.5%
3 Family 240 2ND ST 25 x 100 7 0 12/17/2012 $737,500 $737,500 0.0%
3 Family 340 7TH ST 25 x 100 6 105 7/12/2012 $750,000 $732,600 -2.3%
3 Family 360 6TH ST 25 x 100 5 62 12/17/2012 $825,000 $815,000 -1.2%
3 Family 215 8TH ST 18.16 x 100 4 5 8/31/2012 $829,000 $805,000 -2.9%
3 Family 244 1ST ST 20 x 50 3 10 9/18/2012 $855,000 $850,000 -0.6%
3 Family 236 MONTGOMERY ST 20 x 100 5 15 7/19/2012 $899,000 $890,000 -1.0%
3 Family 254 MONTGOMERY ST 40 x 100 9 131 10/19/2012 $1,950,000 $1,800,000 -7.7%
AVERAGE 5.8 75 $822,042 $793,883 -3.0%
TOTAL VALUE $9,526,600
- 20. METRO NJ REAL ESTATE MARKET REPORT
METRO NJ OFFICE: 79 Hudson Street, Hoboken NJ, 201.478.6700
Visit hudsonrealtygroup.com for access to all of our reports, listings, neighborhood information and more.
PREPARED BY: HUDSON REALTY GROUP AT HALSTEAD PROPERTY NJ LLC
©2013 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.
Matt Brown, EVP
201.805.7403
mbrown@halstead.com
Peter Cossio, EVP
917.855.5817
pcossio@halstead.com
Lindsey Brown
201.320.9716
lbrown@halstead.com
Clare Cossio
201.478.6711
ccossio@halstead.com