$7,460 Closing Credit*
$628,250
700 SqFt
1 Bed
•1 Full Bath
Listing Office: COLDWELL BANKER REALTY
Is Downtown Jersey City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Downtown Jersey City has remained a Seller's Market.
Key Takeaway
Downtown Jersey City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Downtown Jersey City, NJ
How much do homes in Downtown Jersey City, NJ cost?
Median Sold Price
$834,000
$783/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$38,000(+4.8%)
Key Takeaway
Homes in Downtown Jersey City have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Downtown Jersey City was $834,000 in December 2024, up 4.8% from last year, and the median price per square foot was $783.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $522K | $525K | +0.6% |
| 2 Bedrooms | $807K | $862.5K | +6.9% |
| 3 Bedrooms | $1.2M | $1.2M | +1.6% |
| 4 Bedrooms | $1.4M | $1.7M | +20.4% |
| 5+ Bedrooms | $1.6M | $1.9M | +24.2% |
Summary: Downtown Jersey City housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 24.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown Jersey City | $796K | $834K | +4.8% |
| The Village | $866.5K | $902K | +4.1% |
| Harsimus | $990K | $994.5K | 0.5% |
| Van Vorst Park | $638.5K | $625K | -2.1% |
Housing Supply in Downtown Jersey City, NJ
How many homes are available in Downtown Jersey City, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 120 | 109 | -9.2% |
Summary: The Downtown Jersey City real estate market had 109 homes for sale in December 2024, a 9.2% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 31 | -8.8% |
| 2 Bedrooms | 43 | 45 | +4.7% |
| 3 Bedrooms | 17 | 11 | -35.3% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Downtown Jersey City housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 35.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Jersey City, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Downtown Jersey City in December 2024, the same as the previous month. Of the 20 sold homes, 60% were sold under asking, 5% were sold at asking, and 35% were sold over asking.
Days on Market for Downtown Jersey City, NJ
How long does it take to sell a home in Downtown Jersey City, NJ?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 24 Days | 51 Days | +110.2% |
Summary: Homes in Downtown Jersey City had an average of 51 days on market in Dec 2024, up by 110.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown Jersey City has remained consistent over time.
Summary: During December 2024, 22 homes were sold in Downtown Jersey City; 36% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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