Monday, September 24, 2012

July and August Review for Monthly Home Sales for JC, Downtown, NJ

In July, 41 Units sold in Jersey City, Downtown and 37 units were closed in August.  In Q2 we saw 47, 37, 32 units sold per month in April, May and June respectively.  We closed 78 condos in JC, Downtown last in last 2 months vs 142 in Q2. 

The average volume per month in Q2 was 38 units per month.  You can say that august was flat as compared to the average but July at 41 was 10% higher than that.  Why is that?  

We ended this summer with 188 active listings. Which seems to be good for the market. 

Take a look at the volume graph above.  You can see the Two bedrooms have the highest sales in average for this Period 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 this Period 2 bedroom sales were on Average. August was the highest sales month for 2 bedroom units. July was lowest 2 bedroom sales for this period.

In this period, Sales of 1 bedroom units were almost 1/2 of 2 bedroom units on average. July was the highest sales month for 1 bedroom units. August was lowest 1 bedroom sales.

Home sales for 3 bedrooms were lowest for this period. The figures are same for both Months.

Here is a chart of home sales of July and august 2012.

Information Provided by Donna Antonucci
Prudential Castle Point Realty