Hudson Realty Group Metro NJ Market Report 1H 2012

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This presentation is the 1H2012 edition of our semi-annual Hoboken and Downtown Jersey City Real Estate Market Report. We break down market activity for the condo and townhome markets and include data going back more than 5 years.

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Hudson Realty Group Metro NJ Market Report 1H 2012

  1. 1. METRO NJ REAL ESTATE MARKET REPORT 1H 2012HOBOKEN AND DOWNTOWN JERSEY CITY
  2. 2. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 MARKET RECAP The real estate market in Hoboken and Downtown Jersey City has experienced a healthy recovery in activity over the first half of 2012. The combination of rising rental prices in the NYC metro area (10-20% increase within the past couple years) and record low interest rates (below 4% for a 30-year fixed mortgage) has brought buyers out in significant numbers. The surge of real estate buyers combined with record low inventories has created a competitive market for all property types in both Hoboken and Downtown Jersey City. We have seen an extraordi- nary number of condo and townhome listings attracting multiple offers with many selling at asking or above asking price. Closed sales volume was up for both condos and townhome property types in Hoboken and Jersey City, with a total growth of approximately 11% over the first half of 2011 and the 2nd half of 2012 moving from $290M to $322M in closed sales. The townhome markets in both Hoboken and downtown Jersey City have seen the biggest spike in transaction volume with approximately a third more sales than the same period last year. We dont anticipate the usual market slowdown this Summer since many buyers were not able to find the right property during the Spring buying season. With no relief in sight due to a near absence of new construction development, we expect to see property values start to rise in the 2nd half of 2012.Notable Positive Indicators - HOBOKEN: Notable Positive Indicators - JERSEY CITY: Average Condo Price: UP 5.6% from 1H2011 Number of Condo Closings: UP 13.5% from 1H2011 Average Condo Price/SF: UP 5.7% from 1H2011 Under Contract within Period: UP 13.9% from 1H2011 Condo Inventory: DOWN 37.2% from 1H2011 Condo Sales Volume: UP 11.1% from 1H2011 Under Contract within Period: UP 7.9% from 1H2011 Condo Inventory: DOWN 29.7% from 1H2011 Condo Sales Volume: UP 5.6% from 1H2011 Average Condo Discount from Last Asking: DOWN 33.3% from 1H2011 Average Condo Discount from Last Asking: DOWN 17.8% from 1H2011 Townhome Sales Volume: UP 35.3% from 1H2011 Townhome Sales Volume: UP 32.2% from 1H2011 Townhome Average Sales Price: UP 7.5% from 1H2011 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 2
  3. 3. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 TOTAL SALES VOLUME BY PROPERTY TYPE Property Type 1H 2012 2H 2011 % Change 1H 2011 % Change Hoboken Condos $176,952,147 $168,781,613 4.8% $167,508,173 5.6% Hoboken Townhomes $32,751,650 $26,239,500 24.8% $24,765,000 32.2% Downtown JC Condos $89,131,931 $81,097,750 9.9% $80,190,787 11.1%Downtown JC Townhomes $23,791,150 $15,493,250 53.6% $17,579,650 35.3% Total Sales Volume $322,626,878 $291,612,113 10.6% $290,043,610 11.2% Downtown JC Townhomes, Hoboken Downtown JC $23,791,150 Condos, Condos, $176,952,147 $80,190,787 Hoboken Townhomes, $32,751,650 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 3
  4. 4. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 CONDO MARKET REGIONAL COMPARISON 1st Half 2012 Downtown JC Hoboken Brooklyn* Manhattan Average Sales Price $461,823 $511,422 $1,040,181 $1,804,276 Average Price / SqFt 447 474 805 1246 * Brooklyn Heights - Carroll Gardens - Cobble Hill - Columbia Street Waterfront - Dumbo - Red Hook$2,000,000 $1,804,276 AVERAGE SALES PRICE$1,500,000 $1,040,181$1,000,000 $461,823 $511,422 $500,000 $0 Downtown JC Hoboken Brooklyn* Manhattan $1,600 AVERAGE SALE PRICE PER SQFT 1246 $1,200 805 $800 447 474 $400 $0 Downtown JC Hoboken Brooklyn* Manhattan ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 4
  5. 5. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 HOBOKEN CONDO MARKET SUMMARY 1H 2012 2H 2011 % Change 1H 2011 % Change Average Sales Price $511,422 $516,152 -0.9% $484,128 5.6% Average Price / SqFt 474 472 0.5% 449 5.7% Total Value of Condos Sold $176,952,147 $168,781,613 4.8% $167,508,173 5.6% Average DOM of Sold Condos 61.0 64.3 -5.2% 76.9 -20.6% Inventory (months) 3.9 3.7 7.1% 6.2 -37.2% On Market at Period End 226 200 13.0% 360 -37.2% Listed within Period 577 465 24.1% 627 -8.0% Under Contract within Period 437 298 46.6% 405 7.9% Closed within Period 346 328 5.5% 346 0.0%AVG % Discount from Original Asking -4.3% -4.8% -11.5% -5.5% -21.8% AVG % Discount from Last Asking -2.8% -3.1% -9.6% -3.5% -17.8% ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 5
  6. 6. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 DOWNTOWN JERSEY CITY CONDO MARKET SUMMARY 1H 2012 2H 2011 % Change 1H 2011 % Change Average Sales Price $461,823 $440,749 4.8% $471,711 -2.1% Average Price / SqFt 447 428 4.4% 441 1.3% Total Value of Condos Sold $89,131,931 $81,097,750 9.9% $80,190,787 11.1% Average DOM of Sold Condos 77.3 77.5 -0.3% 78.7 -1.8% Inventory (months) 4.1 10.0 -58.5% 6.7 -38.2% On Market at Period End 192 249 -22.9% 273 -29.7% Listed within Period 348 372 -6.5% 433 -19.6% Under Contract within Period 279 150 86.0% 245 13.9% Closed within Period 193 188 2.7% 170 13.5%AVG % Discount from Original Asking -4.0% -5.4% -25.3% -6.3% -36.3% AVG % Discount from Last Asking -2.8% -3.7% -23.0% -4.2% -33.3% ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 6
  7. 7. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 $325Millions $300 TOTAL CONDO SALES VOLUME (MILLIONS) HOBOKEN DOWNTOWN JC $275 $267 $259 $250 $225 $225 $215 $208 $209 $210 $206 $206 $201 $200 $197 $194 $177 $175 $168 $169 $153 $150 $125 $118 $118 $108 $100 $97 $89 $87 $89 $84 $81 $80 $75 $75 $76 $76 $75 $71 $66 $56 $48 $50 $25 $0 1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 7
  8. 8. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012$600k AVERAGE CONDO SALES PRICE$575k HOBOKEN DOWNTOWN JC$550k $535k $536k $526k $528k$525k $516k $517k $511k $515k $516k $511k $510k $505k $501k $498k$500k $487k $489k $484k $467k $467k $472k$475k $462k $457k $456k $458k $452k $455k$450k $437k $441k $434k $422k$425k $414k$400k $391k $373k$375k$350k $338k$325k$300k 1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 600 AVERAGE CONDO SALES PRICE PER SQFT 575 558 HOBOKEN 550 544 538 532 531 DOWNTOWN JC 520 521 525 515 509 500 500 491 488 486 480 478 476 472 474 475 466 468 453 456 449 447 450 439 438 441 434 423 428 422 425 400 392 380 375 350 344 325 300 1H04 2H04 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 8
  9. 9. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012140 HOBOKEN CONDOS - CONTRACTS SIGNED - PER MONTH120 111100 92 93 88 90 86 85 84 84 77 79 82 81 79 76 78 80 72 72 73 75 70 70 63 66 66 66 64 60 60 62 55 57 58 56 58 60 54 56 54 54 54 55 49 49 49 51 50 50 52 50 51 46 46 39 38 41 42 40 35 29 31 25 20 0 A-07 A-08 A-08 A-09 A-09 A-10 A-10 A-11 A-11 A-12 D-07 F-08 D-08 F-09 D-09 F-10 S-07 S-08 S-09 S-10 D-10 F-11 S-11 D-11 F-12 J-08 J-09 J-10 J-07 J-08 J-08 J-09 J-09 J-10 J-10 J-11 J-11 J-11 J-12 J-12 N-07 N-08 N-09 N-10 N-11 O-07 O-08 O-09 O-10 O-11 M-08 M-08 M-09 M-09 M-10 M-10 M-11 M-11 M-12 M-12800 HOBOKEN CONDOS - CONTRACTS SIGNED PER 6 MONTH PERIOD700 596600 565 556 560 532500 480 448 454 452 423 437 412 404400 373 329 309 307 298300 272200100 0 1H2003 2H2003 1H2004 2H2004 1H2005 2H2005 1H2006 2H2006 1H2007 2H2007 1H2008 2H2008 1H2009 2H2009 1H2010 2H2010 1H2011 2H2011 1H2012 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 9
  10. 10. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 20129080 DOWNTOWN JERSEY CITY - CONTRACTS SIGNED - PER MONTH70 59 60 5860 51 50 48 47 4850 45 44 44 42 44 43 42 43 40 38 40 39 3840 37 35 36 34 34 33 34 33 29 30 31 30 30 31 30 26 27 27 28 28 27 2830 24 25 24 25 25 24 22 23 21 19 19 18 2020 13 13 13 1410 0 A-08 A-10 A-11 A-07 A-08 A-09 A-09 A-10 A-11 A-12 F-08 S-09 F-10 S-11 S-07 S-08 F-09 S-10 F-11 F-12 D-07 D-09 D-11 D-08 D-10 J-08 J-08 J-10 J-11 J-11 J-12 J-07 J-08 J-09 J-09 J-09 J-10 J-10 J-11 J-12 N-07 N-09 N-11 N-08 N-10 O-09 O-11 O-07 O-08 O-10 M-08 M-08 M-10 M-09 M-09 M-10 M-11 M-11 M-12 M-12450 DOWNTOWN JERSEY CITY - CONTRACTS SIGNED PER 6 MONTH PERIOD400350 299300 279 271 254250 239 230 225 226 202 207 205200 178 170 171 141 147150 128100 50 0 1H2004 2H2004 1H2005 2H2005 1H2006 2H2006 1H2007 2H2007 1H2008 2H2008 1H2009 2H2009 1H2010 2H2010 1H2011 2H2011 1H2012 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 10
  11. 11. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012700 ACTIVE LISTINGS AT PERIOD END HOBOKEN (CONDOS) DOWNTOWN JC600 556 537 511 501500 491 444 425400 390 384 377 358 360 347 332 302300 273 249 226 200200 192100 0 1H06 2H06 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 2H11 1H12 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 11
  12. 12. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 HOBOKEN TOWNHOME SALES SUMMARY 1H2012 2H2011 % Change 1H2011 % Change Average Sales Price $1,129,367 $1,049,580 7.6% $1,125,682 0.3% 1 Family Average Sales Price $1,253,775 $1,121,500 11.8% $1,105,667 13.4% 2 Family Average Sales Price $755,725 $1,021,875 -26.0% $1,229,665 -38.5% 3 Family Average Sales Price $930,650 $888,250 4.8% $830,000 12.1%Average % Discount From Asking -3.4% -4.3% -20.5% -2.8% 21.5% # Closed 29 25 16.0% 22 31.8% Average Closed per Month 4.8 4.2 16.0% 3.7 31.8% Average Days on Market 78 82 -5.0% 43 83.4% 1 Family Total Sales Volume $25,075,500 $16,822,500 49.1% $13,268,000 89.0% 2 Family Total Sales Volume $3,022,900 $4,087,500 -26.0% $9,837,000 -69.3% 3 Family Total Sales Volume $4,653,250 $5,329,500 -12.7% $1,660,000 180.3% Grand Total Sales Volume $32,751,650 $26,239,500 24.8% $24,765,000 32.2% ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 12
  13. 13. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 SINGLE FAMILY HOBOKEN TOWNHOMES - CLOSED TOTAL DAYS ON % FROM ASK- TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE INGOne Family 12 WILLOW TERRACE 12.5 x 50.14 2 36 4/30/2012 $474,900 $435,000 -8.4%One Family 16 WILLOW TERRACE 12.58 x 50 2 19 3/27/2012 $575,000 $570,000 -0.9%One Family 216 8TH ST 15 x 35 3 76 3/12/2012 $850,000 $810,000 -4.7%One Family 1300 BLOOMFIELD ST 17.16 x 65 3 3 3/30/2012 $899,900 $850,000 -5.5%One Family 1122 GARDEN ST 13 x 100 4 10 5/9/2012 $999,000 $990,000 -0.9%One Family 1203 PARK AVE 16.47 x 80 4 61 3/7/2012 $1,125,000 $1,025,000 -8.9%One Family 207 8TH ST 17 x 55 3 159 3/30/2012 $1,099,000 $1,065,000 -3.1%One Family 327 BLOOMFIELD ST 12.5 x 70 5 24 4/10/2012 $1,099,000 $1,100,000 0.1%One Family 709 PARK AVE 15 x 100 3 19 6/20/2012 $1,150,000 $1,120,000 -2.6%One Family 159 11TH ST 16.66 x 80 4 159 5/25/2012 $1,399,000 $1,356,000 -3.1%One Family 819 GARDEN ST 13.58 x 100 4 78 6/22/2012 $1,395,000 $1,385,000 -0.7%One Family 821 GARDEN ST 13.58 x 100 4 140 6/27/2012 $1,395,000 $1,400,000 0.4%One Family 1227 BLOOMFIELD ST 15 x 75 4 13 6/21/2012 $1,425,000 $1,405,000 -1.4%One Family 945 BLOOMFIELD ST 14.75 x 75 4 9 5/21/2012 $1,400,000 $1,406,000 0.4%One Family 508 OBSERVER HIGHWAY 25.11 x 100 4 173 4/17/2012 $1,625,000 $1,425,000 -12.3%One Family 1302 GARDEN ST 17.45 x 70 4 16 6/27/2012 $1,595,000 $1,639,500 2.8%One Family 929 BLOOMFIELD ST 17 x 75 5 124 3/16/2012 $1,825,000 $1,719,000 -5.8%One Family 802 HUDSON ST 19.67 x 88 5 181 6/5/2012 $1,865,000 $1,725,000 -7.5%One Family 1206 BLOOMFIELD ST 15.59 x 100 4 7 6/5/2012 $1,719,000 $1,755,000 2.1%One Family 1230 GARDEN ST 15.12 x 100 5 1 4/19/2012 $1,895,000 $1,895,000 0.0% AVERAGE 3.8 65 $1,290,490 $1,253,775 -3.0% TOTAL VALUE $25,075,500 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 13
  14. 14. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 TWO FAMILY HOBOKEN TOWNHOMES - CLOSED TOTAL DAYS ON % FROM TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE ASKING2 Family 319 WILLOW AVE 16.16x100 5 391 6/16/2012 $599,900 $599,900 0.0%2 Family 158 13TH ST 16 x 75 3 52 2/10/2012 $699,000 $610,000 -12.7%2 Family 92 GARDEN ST 21.48 x 59.88 5 1 3/16/2012 $750,000 $750,000 0.0%2 Family 1028 PARK AVE 13.66 x 100 5 94 2/21/2012 $1,139,500 $1,063,000 -6.7% AVERAGE 4.5 135 $797,100 $755,725 -4.9% TOTAL VALUE $3,022,900 THREE FAMILY HOBOKEN TOWNHOMES - CLOSED TOTAL DAYS ON % FROM TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE ASKING3 Family 420 BLOOMFIELD ST 16.67 x 80 4 104 2/2/2012 $825,000 $684,250 -17.1%3 Family 68 10TH ST 20 x 65.5 4 194 5/5/2012 $899,000 $920,000 2.3%3 Family 256 6TH ST 31.5 x 32.5 4 39 6/29/2012 $989,000 $939,000 -5.1%3 Family 702 BLOOMFIELD ST 20 x 100 6 64 2/1/2012 $1,049,000 $1,050,000 0.1%3 Family 502 BLOOMFIELD ST 23 x 70 7 23 4/3/2012 $1,050,000 $1,060,000 1.0% AVERAGE 5.0 85 $962,400 $930,650 -3.7% TOTAL VALUE $4,653,250 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 14
  15. 15. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 DOWNTOWN JERSEY CITY TOWNHOME SALES SUMMARY 1H2012 2H2011 % Change 1H2011 % Change Average Sales Price $699,740 $737,774 -5.2% $651,098 7.5% 1 Family Average Sales Price $616,708 $652,850 -5.5% $589,465 4.6% 2 Family Average Sales Price $747,063 $852,250 -12.3% $682,000 9.5% 3 Family Average Sales Price $742,590 $715,583 3.8% $695,000 6.8%Average % Discount From Asking -5.1% -6.4% -20.6% -6.4% -20.6% # Closed 34 21 61.9% 27 25.9% Average Closed per Month 5.7 3.5 61.9% 4.5 25.9% Average Days on Market 76 73 4.9% 82 -7.3% 1 Family Total Sales Volume $7,400,500 $6,528,500 13.4% $5,894,650 25.5% 2 Family Total Sales Volume $8,964,750 $6,818,000 31.5% $6,820,000 31.4% 3 Family Total Sales Volume $7,425,900 $2,146,750 245.9% $4,865,000 52.6% Grand Total Sales Volume $23,791,150 $15,493,250 53.6% $17,579,650 35.3% ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 15
  16. 16. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 SINGLE FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED TOTAL DAYS ON % FROM ASK- TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE INGOne Family 354 1/2 4TH ST 12.5 x 95 2 10 1/13/2012 $200,000 $175,000 -12.5%One Family 366 5TH ST 12.5 x 50 2 89 4/9/2012 $399,900 $378,000 -5.5%One Family 327.5 4TH ST 12.5 x 62.5 3 10 4/12/2012 $489,000 $472,000 -3.5%One Family 144 ERIE ST 19.33 x 68.83 3 131 4/30/2012 $599,000 $515,000 -14.0%One Family 287 5TH ST 16.67 x 90 3 17 1/31/2012 $589,000 $560,000 -4.9%One Family 311 9TH ST 20 x 100 3 38 2/15/2012 $639,000 $625,000 -2.2%One Family 122 MERCER ST 13.17 x 100 5 102 6/14/2012 $669,900 $655,000 -2.2%One Family 175 COLES ST 20 x 100 3 50 3/28/2012 $685,000 $665,000 -2.9%One Family 505 MANILA AVE 16 x 107.5 3 167 5/15/2012 $688,000 $665,000 -3.3%One Family 177 COLES ST 20 x 100 3 24 1/10/2012 $685,000 $690,500 0.8%One Family 18.5 WEST HAMILTON PL 12.5 x 70 3 13 1/31/2012 $849,000 $860,000 1.3%One Family 321 YORK ST 17 x 100 4 28 4/26/2012 $1,175,000 $1,140,000 -3.0% AVERAGE 3.1 57 $638,983 $616,708 -4.3% TOTAL VALUE $7,400,500 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 16
  17. 17. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 TWO FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED TOTAL DAYS ON % FROM ASK- TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE ING2 Family 351 5TH ST 17 x 95 3 8 4/20/2012 $485,000 $430,000 -11.3%2 Family 337 8TH ST 16.67 x 50 3 211 6/21/2012 $519,000 $510,000 -1.7%2 Family 184 CHRISTOPHER COLUM- 20 x 60 4 132 3/19/2012 $539,900 $515,000 -4.6%2 Family 234 1ST ST 19.67 x 56 3 153 6/8/2012 $630,000 $595,000 -5.6%2 Family 284 1/2 6TH ST 14 x 62.5 4 75 1/13/2012 $635,000 $620,000 -2.4%2 Family 350 PAVONIA AVE 25 x 100 3 105 5/21/2012 $695,000 $650,000 -6.5%2 Family 35 WAYNE ST 32 x 50 IRR 4 5 3/19/2012 $799,000 $740,000 -7.4%2 Family 387 YORK ST 16.67 x 70 3 108 6/12/2012 $795,000 $770,000 -3.1%2 Family 294 8TH ST 16 x 50 5 46 6/22/2012 $979,000 $930,000 -5.0%2 Family 339 YORK ST 16.67 x 75 4 126 3/27/2012 $975,000 $950,000 -2.6%2 Family 139 SUSSEX ST 22 x 100 5 47 1/10/2012 $1,195,000 $1,095,000 -8.4%2 Family 330 YORK ST 16.67 x 100 4 20 6/19/2012 $1,235,000 $1,159,750 -6.1% AVERAGE 3.8 86 $790,158 $747,063 -5.4% TOTAL VALUE $8,964,750 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 17
  18. 18. METRO NJ REAL ESTATE MARKET REPORT MARKET ANALYSIS 1H 2012 THREE FAMILY DOWNTOWN JERSEY CITY TOWNHOMES - CLOSED TOTAL DAYS ON % FROM ASK- TYPE ADDRESS LOT SIZE BEDs MARKET CLOSING DATE ASKING PRICE SOLD PRICE ING3 Family 227 BRUNSWICK ST 19 x 50 3 166 5/25/2012 $449,000 $415,000 -7.6%3 Family 18 MERCER ST 16.67 x 75.28 3 100 6/12/2012 $625,000 $620,000 -0.8%3 Family 291 PAVONIA AVE 16.67 x 50 4 82 1/30/2012 $800,000 $685,000 -14.4%3 Family 232 1/2 3RD ST 16.67 x 75 4 8 6/6/2012 $709,900 $709,900 0.0%3 Family 562.5 JERSEY AVE 17 x 61 4 159 4/6/2012 $800,000 $725,000 -9.4%3 Family 281.5 2ND ST 16.67 x 100 2 157 5/22/2012 $739,000 $731,000 -1.1%3 Family 296 PAVONIA AVE 16.67 x 100 4 121 4/16/2012 $825,000 $785,000 -4.8%3 Family 342 PAVONIA AVE 25 x 100 6 8 4/20/2012 $850,000 $840,000 -1.2%3 Family 237 GROVE ST 20 x 80 4 16 3/30/2012 $875,000 $875,000 0.0%3 Family 53.5-55 MERCER ST 33.34 x 100 2 60 3/15/2012 $1,250,000 $1,040,000 -16.8% AVERAGE 3.6 88 $792,290 $742,590 -5.6% TOTAL VALUE $7,425,900 ©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 18
  19. 19. METRO NJ REAL ESTATE MARKET REPORT PREPARED BY: HUDSON REALTY GROUP AT HALSTEAD PROPERTY NJ LLC©2012 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without HalsteadProperty’s prior consent. This data includes all condos that were listed in within the Hudson County MLS, MLS records do not include some new construction developments. Whileinformation is believed true, no guaranty is made of accuracy. METRO NJ OFFICE: 79 Hudson Street, Hoboken NJ, 201.478.6700 Visit hudsonrealtygroup.com for access to all of our reports, listings, neighborhood information and more.

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