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 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.
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.
