As Jersey City’s downtown market cools and residents feel the tax crunch, Bergen-Lafayette just keeps getting hotter. Although, Journal Square has been a main focus for revitalization, Bergen-Lafayette now has numerous redevelopments underway along with major future projects in the pipeline like Canal Crossing and SciTech City. Over the last few years, owners in Bergen-Lafayette […]
As the second quarter of 2018 comes to a close, the number of listings in downtown jersey city is up over last year, the number of sales has dropped, and sale prices are still rising. As previously reported, inventory is still low despite the surge in listings, and it remains a seller’s market. Average Sale […]
To understand why landlords are selling in downtown Jersey City, I turned to the MLS database. I’ve always been comfortable with numbers and analyzing data. By looking at the data, you can often spot trends that help anticipate what may happen in the future. Although no one can predict the future, several months ago I […]
This week mortgage rates resumed their upward trend, which is reported to be the most prolonged increase in 46 years. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to its second-highest level this year, rising to 4.62 percent with an average 0.4 point. It was 4.54 percent a […]
Ever since the results of the tax revaluation were released earlier this year, I’ve been busy talking to clients about when they should sell their investment properties in Jersey City. They tell me they are being bombarded with calls from Realtors telling them that they have buyers, sell now, it’s a sellers’ market! In addition […]
Don’t miss this rare investment opportunity to own a 2-family home just steps from beautiful, historic Hamilton Park in the heart of Jersey City. The home has a garden-level studio apartment with backyard access and a 1-bedroom duplex with a top-floor master suite. This 3-story home could easily be re-configured as a one-family with room […]
Here are the reval survey results recently conducted by DwellJC.com over a ten-day period. The survey reached 1155 property owners in Downtown Jersey City. Of the 1155 that were sent the survey, 49 read it and 15 completed it. The survey asked if the reval resulted in a property tax increase and, if so, the […]
Everyone knows that location is a driving factor in the real estate market, and it’s just one reason why this townhouse located at 244½ First Street in Downtown Jersey City is an amazing opportunity. Just blocks from the Grove Street Station, this three-family brownstone an amazing investment opportunity. But let’s start with the location because it […]
In Q1 2018, a four-family home on Mercer Street in downtown Jersey City sold for $1,937,500, which is just below the record high set last year of $2,270,000. This quarter’s record sale was approximately 14% below asking, which compares unfavorably to last year’s record sale which sold for just 3.4% below asking. On average, the […]
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 […]
