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What’s New in Hudson County Real Estate, According to Local Industry Expert Triplemint

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Over the past year, the real estate market has exploded, leaving prospective homebuyers scrambling to put down offers on listings before they even hit the market. Luckily, it appears the housing market in Hudson County is slowing down a touch and  with the help of local industry expert Triplemint, you can take the goal of real estate investment from a dream to a reality. To keep you in the know, here is the Q3 Quarterly market update from Triplemint, the software-powered brokerage with a team located at 331 Washington Street in Hoboken.

triplemint

Triplemint is Hosting a Virtual Crash Course on Home Buying

The community is invited to virtually join Triplemint on Wednesday, October 13th to learn how to make a winning offer when buying a home. Even if you have bought a home before, the world of real estate is always changing which makes this event a great asset to everyone. Tune in at 11AM via Triplemint’s LinkedIn, Facebook, or YouTube to learn about what to expect during negotiations and how to present a winning offer to land the home of your dreams. 

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The Housing Market is Calming Down in Hudson County

Triplemint uses predictive analytics to stay ahead of market trends and find the right property for each buyer and seller. Tracking the details of real estate trends each quarter helps local buyers and sellers find the right fit, on both sides. 

Total Sales

Total sales in Hoboken were down 2% from last quarter, while total sales in Jersey City were down 12% quarter to quarter. As for Hudson County as a whole, the rates only dropped by 1%. While not huge margins, this slight decline could mean a return to a more steady market.

Hoboken

Q3 2021: 338

Q2 2021: 346

Q3 2020: 224

YOY: 51%

QOQ: -2%

 

Jersey City

Q3 2021: 575

Q2 2021: 654

Q3 2020: 443

YOY: 30%

QOQ: -12%

Hudson County

Q3 2021: 1515

Q2 2021: 1537

Q3 2020: 1112

YOY: 36%

QOQ: -1%

Median Sale Price

The median sale prices gradually increased in both Hoboken and Jersey City at 6% and 3% respectively. Overall Hudson County saw a 1% increase for a median sale price of $595K.

Hoboken

Q3 2021: $792,500

Q2 2021: $751,000

Q3 2020: $741,000

YOY: 7%

QOQ: 6%

 

Jersey City

Q3 2021: $649,000

Q2 2021: $632,250

Q3 2020: $565,000

YOY: 15%

QOQ: 3%

Hudson County

Q3 2021: $595,000

Q2 2021: $587,000

Q3 2020: $540,000

YOY:  10%

QOQ:  1%

Average Days on Market

The time in which homes are being sold is still speeding up. Hoboken listings sold eight days faster this past quarter than they did in the previous one,  and Jersey City listings sold an average of three days faster. Hudson County properties sold an average of six days faster than previously this year.

Hoboken

Q3 2021: 29

Q2 2021: 37

Q3 2020: 31

YOY: -6%

QOQ: -22%

 

Jersey City

Q3 2021: 40

Q2 2021: 43

Q3 2020: 42

YOY: -5%

QOQ: -7%

Hudson County

Q3 2021: 37

Q2 2021: 43

Q3 2020: 43

YOY: -14%

QOQ: -14%

The New Age of Real Estate

Thanks to the Triplemint philosophy and technology used by its agents, customers can make more informed choices when it comes to investing in real estate. The Triplemint Pre-Market Platform gives prospective clients access to a robust inventory of properties that have yet to hit the market. Using that information along with Triplemint’s combination of technology, analytics, and expertise means navigating the real estate market just got a whole lot easier.

 

Triplemint is located at 331 Washington Street in Hoboken. If you are looking to buy, sell, or rent throughout Hudson County and beyond, email hello@triplemint.com or call 866-371-6468 for more information.


Written by:

Originally from North Carolina, Ainsley became a proud Hoboken Girl years ago. As a freelance journalist she has written about everything under the sun for the past six years. She works from her home office in uptown Hoboken or sometimes from Choc-o-Pain, because nothing says “freelancer” like working from a café with a fresh croissant nearby. As the mother of one very fast toddler, she has a passion for self-care, parenting hacks, and discovering all the fun things the Mile Square has to offer.