Monday, July 15, 2013

Q2 2013 Review for Monthly Unit Home Sales for Jersey City, NJ

Volume was good in Q2 with an average of 62 properties sold per month. We closed 186 condos in Jersey city, Downtown last quarter. 58 in April, 69 in May and 59 in June period. This is a significant difference.

We ended Q2 with 172 active listings. Although as prices go up, hopefully more will be willing to sell.  This is assuming interest rates continue to be at these record low levels. 

People bought more properties in last quarter Vs previous 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, Downtown.  The two bedroom is the most versatile for the 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.

Summer is the good time for all the people who are planning to buy new properties. This is also the reason of highest recorded sales in this quarter. 

Here is the graph representing Total sales volume correlation with Average price per unit. This shows that how increase in sales and inventory in the market effect the prices of property during the period in May and June recorded less sales however the prices maintained the same trend. 

Here is a chart for home sales from April to June 2013.

Information Provided by Donna Antonucci
Prudential Castle Point Realty