Q4 2020 MARKET UPDATE HUDSON COUNTY
what’s inside
Q4 2020 market update
03 04 05 06 07 08 09
OVERVIEW Marketwide Sales Marketwide Comparison Quarterly Marketwide Comparison JERSEY CITY Neighborhood Comparison Quarterly JERSEY CITY NEIGHBORHOOD Comparison Methodology
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MARKET AT A GLANCE Q4 2020
$605,483
MEDIAN LISTED PRICE
AVERAGE SALES PRICE
SALES
Overview
41
1,254
AVERAGE DAYS ON MARKET
$569,000
Number of New Listings
$540,000
The Hudson County real estate market showed continued demand in Q4 with notable year over year increases in average and median sales prices and a steep decline in number of days on market countywide. Quarter over quarter sales remain up while pricing held steady and days on market decreased slightly.
2,347
Median Sales Price
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Q3 2020
Q4 2020
43
TOTAL SALES
Year over Year
average SALES price
Q4 2019
$579,450
median SALES price
1,112
Quarter over Quarter
$616,000
$495,000
MARKETWIDE SALES
53
$572,854
number of new listings
3,354
average days on market
$613,442
median listed price
1,690
1,113
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12
3
11
5
6
10
9
MARKETWIDE Comparison
City
NUMBER OF sales
Median sales price
Average Days on Market
1. Bayonne
122
$422,500
36
2. East Newark
4
$435,000
16
3. Guttenberg
29
$300,000
60
4. Harrison
15
$525,000
65
5. Hoboken
253
$710,000
35
6. Jersey City
511
$565,000
40
7. Kearny
18
$375,000
19
8. North Bergen
89
$429,000
50
9. Secaucus
$512,450
10. Union City
82
$420,000
11. Weehawken
$793,500
12. West New York
67
$530,000
70
1
7
8
2
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$388,750
BAYONNE
$432,500
$547,500
$696,000
HOBOKEN
$485,000
$472,500
$399,000
$380,000
QUARTERLY MARKETWIDE Comparison
$741,000
$699,500
$374,950
Harrison
$825,000
$834,500
Guttenberg
West New York
$335,000
Jersey City
$1M $800K $600K $400K $200K $0
East Newark
$367,500
Union City
Secaucus
Kearny
$433,350
$402,500
Weehawken
$522,500
$347,900
$387,000
$407,500
North Bergen
JERSEY CITY Neighborhood Comparison
Jersey CITY NEIGHBORHOOD
Bergen - Lafayette
$533,750
27
Downtown
165
$750,000
38
Greenville
72
$416,500
The Heights
120
$622,500
Journal Square
79
$460,000
39
West Bergen
59
$390,000
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$749,000
$419,000
$500,000
QUARTERLY JERSEY CITY Neighborhood Comparison
$415,000
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$629,500
$370,000
$800K $700K $600K $500K $400K $300K $200K $100K $0
$587,500
JERSEY CITY
Bergen-Lafayette
$400,000
$772,000
METHODOLOGY
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Average Days on Market: Average days on market represents the sum of days that a list of homes during a specified time period were on the market prior to going into contract. This sum is then divided by the number of homes in the data set. Average Sales Price: Average sales price represents the sum of all prices for sold homes during a specified time period, divided by the number of homes in the data set. Median Listed Price: The middle price point when the prices of all inventory are ordered from least to most expensive. Median Sales Price: Median sales price represents the middle price point in a data set when a list of sold homes for a specified time period is ordered from the lowest price point to the highest price point. Number of New Listings: Number of new listings is the number of homes listed during a specified time period. 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. Sources: Figures in this report are based on publicly reported data from the New Jersey Multiple Listing Service as well as proprietary data.
Copyright ©2021 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.
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