While leasing activity was well below the state’s long-term average for office space, some positive signs and major transactions emerged during the summer months.
Areas outside of Downtown Jersey City had a somewhat slow first quarter, but properties are selling quicker than they were last year.
A plateau in home values in Downtown Jersey City and Hoboken has led to an increase in demand for rentals along the two waterfront neighborhoods.
A Pure Properties market report shows that average sale prices for both homes and condos went up double-digit percentages on the year despite an underwhelming 4th quarter.
A slight decline along the waterfront was offset by solid appreciation in Jersey City's outer neighborhoods.
The numbers show a strong luxury rental and condo market in Downtown Jersey City with no signs of slowing down.
After years of being pegged as Hudson County’s emerging market, a big quarter for appreciation and brisk sales shows momentum is gaining in the Peninsula City.
The latest numbers show more modest value gains in most of the city’s neighborhoods and while transaction totals are strong, listings are averaging more days on the market.
A dive into the numbers suggests that a glut of inventory listed for sale hasn’t negatively impacted prices in Jersey City’s leading neighborhood.
With Jersey City's reval in full swing, the numbers are now in for the first quarter of this new reality.
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