Tuesday, July 24, 2012

Q2 Review for Monthly Home Sales for JC, Downtown, NJ

Volume was good in Q2 as compared to Q1.  We closed 142 condos in JC, Downtown last Quarter vs 97 in Q1.  This is a significant difference.  

We ended Q2 with 202 active listings. Which seems to be good for the market. People bought more properties in this Quarter Vs last Quarter.

Take a look at the volume graph above.  You can see the Two bedrooms have the highest sales in average for Q2 which is typical for Jersey City.  The two bedroom is the most versatile for Jersey city’s  audience. A two bed is good for roommates, that young professional that wants a home office, a newly married couple and for the couple with their first child.

From the beginning of the quarter 2 bedroom sales were too high. April was the highest sales month for 2 bedroom units. June was lowest 2 bedroom sales for Q2.

In Q2, Sales of 1 bedroom units were almost 2/3 of 2 bedroom units on average. April was the highest sales month for 1 bedroom units. May was lowest 1 bedroom sales for Q2.

Home sales for 3 bedrooms were lowest for Q2. There was a normal start of Q2 for 3 bedroom home sales. April  was highest in sales.

Here is a chart of home sales from April to June 2012.

Information Provided by Donna Antonucc
Prudential Castle Point Realty