Q2 2020 Hudson County Market Update

Q2 2020 MARKET UPDATE HUDSON COUNTY what’s inside Q2 2020 market update 03 04 05 06 07 08 09 OVERVIEW Marketwide Sales Marketwide Comparison JERSEY CITY Neighborhood Comparison Quarterly Marketwide Comparison Quarterly JERSEY CITY NEIGHBORHOOD Comparison Methodology triplemint.com i Q2 2020 i Hudson County i 2 MARKET AT A GLANCE Q2 2020 triplemint.com i Q2 2020 i Hudson County i 3 1,918 Average SALES PRICE Number of New Listings Median listed price Overview 691 $599,000 SALES $607,188 Average DAYS ON MARKET $535,000 Marketwide Q2 sales showed four key indicators that much of Hudson County is experiencing a seller’s market: average and median sales prices, as well as median list prices countywide, are up year over year and quarter over quarter. Days on market has decreased across the majority of Hudson County, with homes selling more quickly in Q2 2020 than in Q1 2020 or Q2 2019. Nevertheless, due to COVID-19, the number of sales and new listings in Q2 were down as expected. Please read on for details about prices, sales, and days on market for each city within Hudson County. 45 Q2 2020 market update Median Sales Price Q2 2020 market update MARKETWIDE SALES triplemint.com i Q2 2020 i Hudson County i 4 Q2 2020 VS Q2 2019 Q2 2019 Q2 2020 % Change Median Listed Price $559,000 $599,000 7 % Average Sales Price $587,230 $607,188 3 % Median Sales Price $500,000 $535,000 7 % $519,194 $535,000 3 % SALES 1,239 691 -44 % 902 691 -24 % Number of New Listings 2,602 1,918 -26 % 1,948 1,918 -2 % Average Days on Market 47 45 -4 % 52 45 -13 % Q2 2020 VS Q1 2020 Q1 2020 Q2 2020 % Change $565,000 $599,000 6 % $606,606 $607,188 <1 % 12 3 Q2 2020 market update triplemint.com i Q2 2020 i Hudson County i 5 11 5 6 10 9 MARKETWIDE Comparison City Median sale price Number of sales Average Days on Market 1. Bayonne $380,000 67 43 2. East Newark n/A 0 n/A 3. Guttenberg $359,900 17 61 4. Harrison n/A 0 n/a 5. Hoboken $766,500 154 40 6. Jersey City $578,000 260 40 7. Kearny $337,000 6 67 8. North Bergen $379,799 57 55 9. Secaucus $465,000 27 46 10. Union City $316,250 42 55 11. Weehawken $760,000 23 74 12. West New York $450,000 36 54 1 7 4 8 2 triplemint.com i Q2 2020 i Hudson County i 6 JERSEY CITY Neighborhood Comparison Q2 2020 market update Jersey CITY NEIGHBORHOOD Median sale price Number of sales Average Days on Market Jersey City $578,000 260 40 Bergen - Lafayette $555,000 17 52 Downtown $701,000 86 40 Greenville $375,000 28 52 Heights $612,500 64 33 Journal Square $375,000 33 48 West Bergen $402,500 32 28 Q2 2019 $378K $760K Quarterly Marketwide Comparison $578K $380K $380K $434K KEARNY $700,000 $320K $465K $395K $762K $300,000 $440K $400,000 $410K $450K SECAUCUS GUTTENBURG $390K $349K $600,000 $337K WEST NEW YORK $560K JERSEY CITY NORTH BERGEN $800,000 Q1 2020 $459K $726K $500K UNION CITY $499K $316K $370K $390K $430K Q2 2020 HARRISON HOBOKEN $360K $767K $500,000 $695K WEEHAWKEN triplemint.com i Q2 2020 i Hudson County i 7 $397K $399K Median Sale Price Rounded to Nearest Thousand BAYONNE $340,000 $749K $397K $780K $375K DOWNTOWN WEST BERGEN $700,000 $403K $380K $500,000 Q2 2019 $400K $387K $600,000 BERGEN-LAFAYETTE $463K $499K $430K GREENVILLE $510K $605K JOURNAL SQUARE Q1 2020 $400K $400,000 $493K Q2 2020 Quarterly JERSEY CITY Neighborhood Comparison $555K $613K HEIGHTS triplemint.com i Q2 2020 i Hudson County i 8 Median Sale Price Rounded to Nearest Thousand $300,000 $578K $760K JERSEY CITY $701K $375K $800,000 $560K METHODOLOGY Average Price per Square Foot: The average price divided by the average square footage. Median Listed Price: The middle price point when the prices of all inventory are ordered from least to most expensive. Quarters: Four three month periods that take place from January - December: Q1: January - March Q2: April - June Q3: July - September Q4: October - December Sales: Homes that sold during the quarter referenced in the report. Total Inventory: All of the listings active during the quarter referenced in the report. Sources: Figures in this report are based on publicly reported data from the New Jersey Multiple Listing Service as well as proprietary data. triplemint.com i Q2 2020 i Hudson County i 9 Q2 2020 market update Copyright ©2020 Triplemint. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description. THE NEW STANDARD OF REAL ESTATE triplemint.com hello@triplemint.com 201.228.0609 50 HARRISON STREET, SUITE 114 HOBOKEN, NJ 07030