Downtown Jersey City Condos Prices Dropping?

by Linden Moe on November 22, 2011

Downtown Jersey City Condos Prices Dropping?

Downtown Jersey City Condos

Downtown Jersey City Condos

Did Downtown Jersey city Condos Market survive the year?

And Did the Downtown Jersey City Condos Market Drop As Predicted?

Now..I dont know how you feel about getting the real truth..the right information to get the best deal, make the right choice  and buy with confidence..but to me …that information and peace of mind is priceless..

So If you are tired of the hype, misconceptions and flat out false information out there and finally want to know the absolute truth about current market conditions..then read on ..closely..

Because I’m about to expose..the total falsehoods thats that s being put out there causing todays buyer

massive frustration …and avoid costly mistakes. So lets get right to it shall we..

Last year Downtown jersey city condos buyers were told to keep renting because prices was falling..This infomation was never backed with any facts or statistics.. but rather with speculation..

Causing some buyers to be fearful and put thier dreams on hold…in fear that they would buy these downtown jersey city condos..and prices would fall by this year..

so did this really happen? From January 1st 2010 till 11-21-11 Did Down jersey city Prices Fall Off the Cliff?

Lets look at the only numbers that count and what banks use to determine value and fair market value..

What they actually sold for last year and what they are selling fo this year..

According the Jersey City Tax Records,..Backed by data from the Hudson County Multiple listing service… Well.. I’ll let the facts , figures and numbers talk..

Number of Down Jersey City Condos Sold Last Year Jan-2010-Nov 2010
349
Downtown jersey City Condos Sold This Year Jan 2011- Nov 2011
331
Difference
-5%
So this means that there is Less Buyers buying this year than last year.. Demand is Down.

And since price is a function of suppy and demand..right?
Lets check out the supply

Downtown jersey city condos available for sale Jan 2010-Nov 2010
1264 Downtown Jersey City Condos Were Available For sale…

This year Jan 2011-Nov 2011
1122 were avalable for sale

Difference -11%
This means although demand was down..supply was down even worse

What this did to downtown jersey City Condos Home Prices….

Finally..what you have been patiently waiting for… me to stop ranting.. :-)

Last year Jan-Nov 2010 the median SOLD price was $412,500
This Year Jan-2011-Jan 2011 the median SOLD price was
….

drumroll please…
$436,000

Difference

Up 6%

So in a down economy, with challenging economic conditions…
Downtown Jersey City Condos Prices Actually Jumped UP 6%

Which means..those who listened to the well meaning friend, co-worker ,colleague..
Downtown Jersey City Homebuyers

had to pay on average $23,500 MORE this year than they would have last year…

Not to mention the $2500 on area average..Rent for that year…
resulting in additional $30,000 oppurtunity cost..they paid out to local area landlords..

I wanted to address and expose these misconceptions..by non-local , non- experts…
That results in buyers losing out on thousands in equity…and bring the truth to todays market.

After All somebody has to give the facts and numbers straight..without the speculation.

Access to the full Report.. downtownjcmarketupdatenov2011

Post written by,
Linden Moe

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

your downtown jersey city condos expert advisor…

Get the best deal on downtown jersey city condos

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


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