Downtown Condos Marketwatch Market Shifts Dramatically…

by Linden Moe on August 14, 2012

Hudson County Short Sales And Foreclosures Market

Hudson County Short Sales And Foreclosures Market

The Downtown Jersey City Condos Market Has Been Dramatically Changing…

Ok Lets get into the Hard data……

Before that..

This report is an indepth market analysis on 2 bedrooms 2 baths Condos In downtown jersey city ONLY…

If you are looking for specific  Neighborhood Market Value Strategic Analyst Report

For like, Hoboken, West Ny, North Bergen, Weehawken, Union City.. Journal Sq , Jersey City Heights, Jersey City breakdown..etc…

Or a Specific Type of Market Sold report for Single Families, Multi Family,  Townhomes, 1 bedrooms Etc.., 3 bedrooms..

Get It Here…

http://www.gardenstatehomesearch.com/sell/

 

ok Now..Lets look at current Market values ..THE Sold Report..  For 2 bedroom 2 bath  Condos In Downtown Jersey City…

 Lets use The Real Estate Expert Way the ways Banks And appraisals evaluate by comparing apples to apples..

We want an really in-depth approach…

So… In order to be conservative..
We Left Out

The Builder Direct Sales from Tax Records

and only looked at mostly resales

The builder Direct Units right now are selling higher than the market
At Crystal Pointe
At 77 Hudson
At Trump Towers
So mostly ignoring  those..we can keep the averages down to conservative…

And we included the brownstones which will also help bring the prices into conservative…

brownstones sell for far less than elevator buidings… so that will help lower..the averages…a bit..

here is the general market overview the way typical agents will evaluate

All downtown 2 bed 2 bath even those UNDER 1,000 sq ft…

108 sales

average list price $571, 103

average sold price $555,371

So the average Value of a 2 bedroom 2 Bath Condo
should be $555,371 Right? Wrong…

Watch What happens when we go above 1,000 sq ft  … and drill down into each segment of that market…

 

here is 2 bedroom 2 bath downtown jersey City Condos over 1000 sq ft Dec 2011 -Aug 2012

last 9 months

95 sales

average list price $595,828

2012 average sold price $$578,654

last year 2011 same time period

asking price $585,066

2011 average sold price $560,856

The market SOLD PRICE has went up….

Current Pricing trending Upwards…

Click below to view detail, photos and more… Of Actual Solds..

http://hudson.paragonrels.com/publink/default.aspx?GUID=292e1792-4f2a-4982-a502-68e114b7e9db&Report=Yes

 

then 2 bedroom 2 bath downtown jersey City Condos Above 1200 sq ft Dec 2011 -Aug 2012

58 sales

2012 average list price $631,660

2012 average sold price $612,750

 

last year 2011 same time period

2011 average asking price  $616,627

2011 average sold price $591,381

The market SOLD PRICE has went up….

Current Pricing trending Upwards

Click below to view detail, photos and more…… Of Actual Solds

http://hudson.paragonrels.com/publink/default.aspx?GUID=79b41a8a-1caa-451c-a60d-8113bae92969&Report=Yes

 

then 2 bedroom 2 bath downtown jersey City Condos above 1300 sq ft Dec 2011 -Aug 2012

33 sales

2012 average list price  $671,227

2012 average sold price $652,353

 

last year 2011 same time period

2011 average asking price  $656,025

2011 average sold price $627,471

The market SOLD PRICE has went up….

Current Pricing trending Upwards…

 

Click below to view detail, photos and more…… Of Actual Solds

http://hudson.paragonrels.com/publink/default.aspx?GUID=5b55fc5d-a3c2-4497-8863-5a0b67402632&Report=Yes

Now There is a $100,000 price difference
between a 2 bedroom 2 bath
under 1,000 sq ft vs over 1300 sq ft

This is why the typical agent way of evaluating property is fatally flawed……
and cost buyers thousands of dollars and worst cause them to miss out the home of they dreams

An appraiser will not even typically compare a 800 ft condo
with a 1300 sq ft condo…

Real Estate Experts And Investors And Banks Evaluate by apples to apples
lumping in 800 sq ft units with 1300 sq ft units is a very costly mistake….

Make sure Any Comps, Comparables, ETC are apples to apples…
Or you may miss the home of your dreams..

This why Smart savvy Home Buyers And Investors Hire Expert Advisers and Not typical real Estate Agents..

In depth Expert Analysis is what we do for our clients..
You can too with our Smart Buyer Advantage Program
Read More By clicking on the link below..

http://hudsoncountyrealestatechat.com/1572/vip-buyer-concierge-services/

 

If you are looking for A specific Neighborhood Market Value Strategic Analyst Report ..

 

For like,  Hoboken, west Ny, North Bergen, Weehawken..Union City, Secaucus etc…

 

Or a Specific Type of Market Sold report for Single Families, Townhomes, 1 bedrooms Etc.., 3 bedrooms..

 

Get It Here…

 

http://www.gardenstatehomesearch.com/sell/

 

All the Best

Linden Moe

Americas Elite Real Estate Experts

Direct 201-839-4926

Office: 201-432-1600

 

Linden Moe Linden Moe  (103 Posts)

Your downtown jersey city condos expert advisor… Certified Real Estate Expert | Realtor | Consultant Team Leader of the “NJ Top Ten Real Estate Experts Team” America’s Elite Real Estate Fax 201-221-7712 | Direct Line 201-839-4927 | Office 201-432-1600 | Linden@BestBuysInNj.com | www.BestBuysInNj.com


Read More Awesome Post:

  1. downtown jersey city Homes Market Review. A look at Downtown jersey city condos
  2. Downtown Jersey City Condos Market-6-3-2011
  3. Downtown Jersey City Condos Prices Dropping?
  4. Downtown Jersey City Sold Report December 2011 Year In Review By Linden Moe
  5. Hudson County Real Estate Marketwatch



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