Hoboken Condos Vs Downtown Jersey City Condos

by Linden Moe on January 9, 2012

Downtown Jersey City Condos Vs Hoboken Condos

 

Community Characteristics

These distinctive characteristics represent factors which have a strong
influence on this community. Factors are considered “distinctive” if this
community falls into the top 25% for these characteristics nationally.

07302 (NJ) 07030 (NJ)
  • Nearby Military Facility(ies)
  • Very Rapid Population Growth
  • High Residential Turnover
  • Close Proximity to Sea/Ocean
  • Nearby Military Facility(ies)
  • Distinctive College Community
  • Growing Population
  • High Residential
    Turnover
Community Summary
07302 07030
Median Age
34
31
Married
29%
22%
Number of Homes
19,383
23,598
Household Size
2.1
1.9
Homes with Children
21%
13%
Total Population
41,316
45,326
Population Growth (since 2000)
31%
17%
Population Density (ppl/mile)
27,412
36,263

Downtown Jersey City Condos Vs Hoboken Condos Market Stability Summary

07302 07030
Median Listing Price*
$492,040
$569,360
Median Days on Market*
90
92
Active Listings*
301
239
Percentage of Distressed Listings*
8.3%
4.6%
Annual Residential Turnover
32%
32%
5+ Years in Residency
14%
15%
Median Years in Residency
2
2

*
Single Family Homes and Condos Only

School Summary
07302 07030
Number of Schools
19
13
Educational Climate Index
High
Above Average
Test Scores
Number of Students
8,834
4,078
Student Teacher Ratio
11 : 1
13 : 1
Gifted And Talented Schools
1
1
Schools with AP Classes
4

2

Downtown Jersey City Condos Vs Hoboken Condos Price Trends – Sold vs. Listed

Understand the difference between “listing prices” (what sellers are asking
for) and “sold prices” (what buyers are willing to pay).

By comparing these price trends, you’ll have a good idea of where the market
is heading. The median listing and sold property prices are calculated based on
the market activity each month.

Some sales are not immediately available from
public records. As they become available, the data are
updated.

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Market Inventory Trends

Review the inventory and health of the market by
looking at the number of sold and listed properties.

To understand if the market inventory is growing or
shrinking, compare the number of sold properties to new listings.
If inventory is growing, the market could be trending toward a buyer’s market.
If inventory is shrinking, then it could be a seller’s market.

Gauge the health of the market by comparing the number
of standard to distressed listings. If the number of distressed
listings is greater, the market could be unhealthy and more likely a buyer’s
market.

 

  • Sold: Properties sold that month
  • New: Listings that are new on the market
  • Distressed: Listings that are short sales,
    bank owned, or up for auction.
  • Standard: Non-distressed
    listings

 

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Property Ownership

This chart shows home occupancy within an area.

A high percentage of ownership can indicate an area where people like to live
and stable property prices. While a high percentage of rentals could indicate an
area with shifting demographics, a younger community, or possibly a downtown
area.

High vacancy rates can indicate that the market is unhealthy and that it
could be tough to sell a home in this area.

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Fair Market Rents

The Fair Market Rents show average gross rent estimates based on figures
provided by the U.S. Department of Housing and Urban Development
(HUD).

07302 07030
Studio
$1,080
$1,124
One Bedroom
$1,141
$1,188
Two Bedroom
$1,332
$1,386
Three Bedroom
$1,614
$1,680
Four Bedroom
$1,738
$1,809
Income by Household

Review the distribution of household income levels in a community.

Income levels are listed along the left side of the chart, and the number of
households are displayed along the bottom.

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Education: Highest Level Attained

Find out the highest level of education achieved by the people within this
local market.

These levels can help you determine if you want to live in a certain area.

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Weather Risk

Weather Risk shows you the different kinds of extreme weather in an area,
based on historical storm events and weather patterns.

The national average for each type of weather event equals a score of 100.

A score of 200 would represent twice the risk as the national average, and a
score of 50 would represent half the risk.

07302

Chart Temporarily Unavailable

07030

Chart Temporarily Unavailable

Smoking Ban

The Smoking Ban data indicates whether an area has a smoking ban in place for
workplaces, restaurants or bars. This information represents that of the search
area and may not reflect that of the whole County or State.

07302 07030
Workplaces
Yes
Yes
Restaurants
Yes
Yes
Bars
Yes
Yes
  • Neighborhood information provided by Onboard
    Informatics © 2011 Onboard informatics. Information deemed reliable but not
    guaranteed.
  • GreatSchools Ratings provided by GreatSchools.org
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. Current Mortgage Rates-Monthly Payments 10-17-11
  2. Downtown Jersey City Condos Prices Dropping?
  3. Negotiation Tips When Buying Hudson County Foreclosures
  4. Hudson County Short Sale And Pre-Foreclosure HotList
  5. Downtown Jersey City Sold Report December 2011 Year In Review By Linden Moe



Try our super useful *Wild Card* home search


Samples of allowed searches:
3 beds, 2 baths
4 rooms, 2 baths, New Jersey
5 bedrooms, 4 bathrooms, 07010
1500 square feet, Hoboken
2500 sqft, 4 rooms, 3 bath, Jersey City





Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /home4/lindenjr/public_html/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1044