Hudson County real estate is a different animal when compared with the rest of the country. To give you a leg up on the market, here’s your quarter 2 update from Triplemint, the software-powered brokerage with an office at 331 Washington Street in Hoboken.
You can also join Triplemint’s Q2 State of the Hudson County Market virtual panel discussion on Wednesday, July 28th, from 11 AM — 12 PM. Click here to register.
Numbers Continue to Rise for Hudson County
According to Triplemint, total home sales in Hoboken increased by 54% between Q1 and Q2 in 2021. Jersey City’s total sales increased by 19% with a total of 654 homes sold so far this year. Hudson County has always been a hot spot for the real estate market, but the 123% increase in total sales from 2020 to 2021 shows just how popular the local area is for homebuyers.
Total Sales
Hoboken
Q2 2021: 346
Q1 2021: 225
Q2 2020: 154
YOY: 125%
QOQ: 54%
Jersey City
Q2 2021: 654
Q1 2021: 551
Q2 2020: 260
YOY: 152%
QOQ: 19%
Hudson County
Q2 2021: 1537
Q1 2021: 1229
Q2 2020: 689
YOY: 123%
QOQ: 25%
As much as residents love Hudson County, we know it can be pricey and, because of how popular it is, that price is on a slow yet steady increase. Triplemint reported a 4% increase from the start of the year for the median sale price in Hoboken and an 8% increase in Jersey City. This puts the average sales price for a Hudson County home at $681K.
Median Sale Price
Hoboken
Q2 2021: $751,000
Q1 2021: $725,000
Q2 2020: $766,500
YOY: -2%
QOQ: 4%
Jersey City
Q2 2021: $632,250
Q1 2021: $585,000
Q2 2020: $578,000
YOY: 9%
QOQ: 8%
Hudson County
Q2 2021: $587,000
Q1 2021: $555,000
Q2 2020: $535,000
YOY: 10%
QOQ: 6%
True to the vibe of city living, everything moves quickly — including the housing market. At the start of the year, homes in Hoboken were on the market for an average of 51 days before getting snatched up. Quarter 2 saw that number drop to 37 days. Average days on market dropped in Jersey City as well, from 47 to 43 which is also the current average for Hudson County.
Average Days on Market
Hoboken
Q2 2021: 37
Q1 2021: 51
Q2 2020: 40
YOY: -8%
QOQ: -27%
Jersey City
Q2 2021: 43
Q1 2021: 47
Q2 2020: 40
YOY: 8%
QOQ: -9%
Hudson County
Q2 2021: 43
Q1 2021: 48
Q2 2020: 45
YOY: -4%
QOQ: -10%
A New Way to Buy Real Estate
Thanks to the Triplemint philosophy, customers are able to make a more informed real estate decision while enjoying a seamless experience. Triplemint uses predictive analytics to anticipate the market and match sellers with the right buyers, and vice versa. Clients have access to a robust inventory of properties, many of which are not yet on the market, via the company’s Pre-Market Platform.
With an emphasis on technology and analytics, Triplemint knows the power of numbers when it comes to helping prospective homeowners navigate the real estate market.
Triplemint is located at 331 Washington Street in Hoboken. You can email hello@triplemint.com or call 866-371-6468 for more information.
