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Triplemint: The Quarterly State of the Market Report

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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.

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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.

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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%

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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.

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Triplemint is located at 331 Washington Street in Hoboken. You can email hello@triplemint.com or call 866-371-6468 for more information.

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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.


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