Average List Price Drops as Listings Surge

The number of condos and single-family homes listed in Downtown Jersey City continues to increase since the property tax reval.  The number of listings in the period from March 15th to April 14th increased from 94 in 2017 to 154 in 2018, up 64% over last year.  The following bar chart depicts the number of […]

Dwell JC | Apr 14, 2018

Thinking of Selling in Downtown JC?

With so many folks talking about selling their homes in downtown Jersey City, I decided to share some of my recent experiences with clients preparing to sell.  As I previously reported, homeowners in downtown Jersey City have been among the hardest hit by the property tax revaluation with the annual taxes on many homes more […]

Dwell JC | Mar 30, 2018

Downtown Listings Surge since Revaluation

Downtown listings have surged since homeowners began receiving their reval letters last month.  Although it was not one of the steps outlined by Ward E Councilman, James Solomon, when he presented information about the revaluation throughout Ward E, clearly one of the options is for a homeowner to simply SELL their home. As I previously […]

Dwell JC | Mar 16, 2018

Location and Low Taxes Make This Townhouse a Hot Jersey City Listing

This Jersey City listing is brought to you by Thomas Gibbons of Warren G Curtin Realty. Want to see this listing?  Email us, tom@wgcrealty.com. Everyone knows that location is a driving factor in the real estate market, and it’s just one reason why 340 5th Street in Downtown Jersey City is an amazing opportunity.  This single-family brownstone was […]

Dwell JC | Mar 10, 2018

Downtown Jersey City’s Housing Boom

Capturing this dynamic real estate market with data is never easy, but this chart gives you a snap-shot of the past five years of housing boom for 1-4 family townhouses in Downtown Jersey City. With housing prices rising and inventory at a 20-year low, the housing market in Downtown Jersey City should continue to soar despite […]

Dwell JC | Mar 1, 2018

Property Tax Freeze for Seniors & Disabled

Attention Seniors:  Some of the folks hardest hit by the tax revaluation (or “reval”) in Jersey City may be able to take advantage of New Jersey’s Property Tax Reimbursement Program, also known as the “Senior Freeze”.  This program reimburses eligible New Jersey residents who are senior citizens or disabled persons for property tax increases on […]

Dwell JC | Feb 20, 2018

Solomon Addresses Downtown Reval

On Thursday, February 1st, Ward E Councilman James Solomon addressed a full-house of concerned residents from Downtown Jersey City.  His reval presentation explained the revaluation process and outlined several specific steps residents can take to appeal their valuation if they feel the appraisal is not accurate.  Here are the key steps to appealing your reval: […]

Dwell JC | Feb 5, 2018

Downtown Jersey City – 2017 Real Estate Review

In November 2017, a single-family home on 8th Street (pictured below) sold for an asking price of $2,250,000, breaking the $2 million threshold by over 10% and setting the stage for 2018.  This five-bedroom home was completely gut-renovated with state-of-the-art appliances and high-end technology.  Throughout downtown Jersey City sales of 1-4 family townhouses rose to […]

Dwell JC | Dec 26, 2017

Major Changes in Taxes to Impact Local Property Values

The National Association of Realtors (NAR) has prepared an interactive map that predicts the impact of the new Federal Tax bill on your home’s value.  When I queried it for Congressional District 8, which includes Downtown Jersey City, it predicts that the average home value will decrease by $32,260.  NAR also issued a bill Summary, […]

Dwell JC | Dec 21, 2017

Mercer/Varick/York – 2017 Real Estate Review

Homes on Mercer, Varick and York Streets rose to record breaking levels in 2017.  This sought-after neighborhood surrounds the beautifully renovated and maintained Van Vorst Park.    Called “one of the most formal of Jersey City’s parks,” it was originally landscaped by local florist and horticulturist Peter Henderson in 1851. Occupying the entire rectangular city block […]

Dwell JC | Dec 18, 2017