Although average prices have not yet been affected, the steady increase in days on the market signals a weakening in the condo market that favors buyers. The average number of days on the market (DOM) has continued to increase over last quarter and last year. The number of days on the market in the downtown […]
As the third quarter of 2018 ends, the number of sales is up dramatically over last quarter, days on the market continues to decline, and the average sale price fell about 6.5% over last quarter but prices are still up 1.8% over last year. This demonstrates that the townhouse market in downtown Jersey City remains […]
This listing is brought to you by Thomas Gibbons of Warren G Curtin Realty. Want to see this listing? Email us, tom.wgcrealty@gmail.com. This immaculately renovated, one-bedroom condo is the definition of chic urban living. In the heart of Paulus Hook, this unit has high, vaulted ceilings and a skylight that fills the home with natural light. With a […]
Home prices in Jersey City are holding steady, despite increasing supply. Demand in most categories remains strong and mortgage rates have dropped slightly in August. Over the past several weeks we have seen slight declines in mortgage rates, which is improving affordability to some extent and may further increase demand. The average 30-year fixed-rate mortgage […]
The final tax rate of $1.48 per $100 of assessed value was officially certified by the board. This is good news from many who were expecting 1.62. The city was under a court order to complete its first revaluation since 1988 and assessed values of some Downtown homes jumped over 200%, hitting 1-4 family homes […]
On Thursday afternoon I attended the Grand Opening of the Park Francis, which is a 7-story residential rental building with ground-floor retail that Eric and Paul Silverman recently completed on Hamilton Park. The soon-to-open, Rumba Cubana, provided amazing Cuban food, margaritas and mojitos. I got to tour the interior of the restaurant, which is classy […]
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 […]
