Q3 2020 Jersey City Market Update

Q3 2020 MARKET UPDATE Jersey City what’s inside Q3 2020 market update 03 04 05 08 OVERVIEW JERSEY CITY Neighborhood Comparison Quarterly JERSEY CITY NEIGHBORHOOD Comparison Methodology triplemint.com i Q3 2020 i JERSEY CITY i 2 40 Q2 2020 +70% Quarter Over Quarter Change TOTAL NUMBER OF SALES overview +5% Quarter Over Quarter Change total number of SALES -2% Year Over Year Change +10% Year Over Year Change 443 Q3 2020 443 $565,000 546 Q3 2019 -19% Year Over Year Change 42 Q3 2020 market update Average days on market $578,000 Q2 2020 jersey city MARKET AT A GLANCE Q3 2020 43 Q3 2019 Median SALES Price 42 Q3 2020 $565,000 Q3 2020 260 Q2 2020 $514,375 Q3 2019 Jersey City Q3 market data shows notable year over year increases in median sales prices across the city combined with a decrease in days on market. Sales numbers remain down year over year but are up considerably in comparison with the second quarter of this year. Read on for a more detailed look at six Jersey City neighborhoods. average days on market MEDIAN SALES PRICE -2% Quarter Over Quarter Change triplemint.com i Q3 2020 i JERSEY CITY i 3 triplemint.com i Q3 2020 i JERSEY CITY i 4 JERSEY CITY Neighborhood Comparison Q3 2020 market update Jersey CITY NEIGHBORHOOD Median sales price Number of sales Average Days on Market Jersey City $565,000 443 42 Bergen - Lafayette $547,500 26 28 Downtown $749,000 145 37 Greenville $419,000 65 61 The Heights $587,500 106 44 Journal Square $500,000 67 43 West Bergen $420,000 34 34 86 Q3 2020 28 33 Q3 2020 market update Q2 2020 QUARTERLY Neighborhood Comparison 546 Q3 2019 34 25 32 triplemint.com i Q3 2020 i JERSEY CITY i 5 The Heights TOTAL NUMBER OF SALES 26 112 106 Downtown 89 Greenville 600 500 400 300 200 100 0 64 260 64 Journal Square JERSEY CITY 443 145 West Bergen Bergen-Lafayette 75 17 65 67 181 QUARTERLY Neighborhood Comparison $547,500 $419,000 Median sales price Q3 2020 market update $397,750 triplemint.com i Q3 2020 i JERSEY CITY i 6 JERSEY CITY The Heights $749,000 $612,500 Q3 2019 $385,000 West Bergen $565,000 $375,000 $578,000 Journal Square $720,000 Bergen-Lafayette Downtown $375,000 $514,375 Greenville $534,500 Q2 2020 $587,500 Q3 2020 $366,000 $800K $700K $600K $500K $400K $300K $200K $100K $0 $500,000 $555,000 $701,000 $402,500 $510,000 $420,000 38 34 80 70 60 50 40 30 20 10 0 Bergen-Lafayette 44 35 49 JERSEY CITY Q2 2020 33 52 Q3 2020 market update 40 28 42 61 Greenville Downtown Q3 2019 52 AVERAGE DAYS ON MARKET 32 52 Journal Square 43 48 37 West Bergen 28 Q3 2020 43 QUARTERLY Neighborhood Comparison 38 The Heights 40 triplemint.com i Q3 2020 i JERSEY CITY i 7 triplemint.com i Q3 2020 i JERSEY CITY i 8 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. Q3 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