Downtown Jersey City Real Estate Market Daily Recap

Thursday, August 21, 2025 Market Update

Welcome to your daily Downtown Jersey City real estate market summary. Today's report analyzes 16 active sales listings, providing insights into market trends, pricing, and inventory levels across our dynamic downtown market as we close out the week.

🏢 New Listings (Active)

Fresh properties hitting the market

Market Snapshot

• New Listings Today: 9 properties
• Average Price: $765,000
• Average Price/SF: $855
• Average Days on Market: 2 days

Featured New Listings:

238 Luis M Marin Blvd, Unit 1510

• Price: $529,000
• Bedrooms: 1 BR
• Square Footage: 882 sq ft
• Price per SF: $599.77
• Days on Market: 1 day
• Property Type: Condominium

Market Insight: Luis M Marin Boulevard continues to anchor the waterfront value segment, delivering exceptional luxury amenities under $600/sq ft with Hudson River access.

105 Greene St, Unit 605

• Price: $649,000
• Bedrooms: 2 BR
• Square Footage: 886 sq ft
• Price per SF: $732.51
• Days on Market: 2 days
• Property Type: Condominium

Market Insight: Greene Street two-bedroom units maintain strong appeal in the historic downtown core, offering efficient layouts and character living at competitive pricing.

77 Hudson St, Unit 4114

• Price: $775,000
• Bedrooms: 1 BR
• Square Footage: 946 sq ft
• Price per SF: $819.24
• Days on Market: 2 days
• Property Type: Condominium

Market Insight: Hudson Street's luxury high-rise continues premium positioning, with spacious one-bedroom units commanding over $819/sq ft for world-class amenities.

88 Morgan St, Unit 3809

• Price: $765,000
• Bedrooms: 1 BR
• Square Footage: 843 sq ft
• Price per SF: $907.71
• Days on Market: 1 day
• Property Type: Condominium

Market Insight: Morgan Street's luxury tower maintains premium pricing above $907/sq ft, reflecting the building's prestigious location and comprehensive amenities.

1 2nd St, Unit 2111

• Price: $1,099,000
• Bedrooms: 2 BR
• Square Footage: 1,105 sq ft
• Price per SF: $994.57
• Days on Market: 3 days
• Property Type: Condominium

Market Insight: 2nd Street's luxury development approaches the coveted $1,000/sq ft milestone, representing the pinnacle of downtown luxury living.

661 Jersey Ave, Unit 3

• Price: $1,250,000
• Bedrooms: 3 BR
• Square Footage: 1,400 sq ft
• Price per SF: $892.86
• Days on Market: 2 days
• Property Type: Condominium

Market Insight: This exceptional three-bedroom unit demonstrates the premium commanded by rare family-sized downtown living, with scarcity driving strong buyer interest.

264 9th St, Unit 1G

• Price: $525,000
• Bedrooms: 1 BR
• Square Footage: 738 sq ft
• Price per SF: $711.65
• Days on Market: 2 days
• Property Type: Condominium

Market Insight: 9th Street provides excellent entry-level downtown access, offering solid value at $711/sq ft for first-time buyers.

🤝 Accepted Offers (Attorney Review in Progress)

Properties with accepted offers pending legal review

Market Snapshot

• Properties in Attorney Review: 3 properties
• Average Accepted Price: $794,333
• Average Price/SF: $835
• Average Time to Contract: 22 days

Properties Under Attorney Review:

264 9th St, Unit 3C

• Accepted Price: $519,000
• Bedrooms: 1 BR
• Square Footage: 708 sq ft
• Price per SF: $733.05
• Days on Market: 39 days
• Contract Date: Recent

Market Insight: This 9th Street property demonstrates steady mid-market performance, contracting within six weeks at competitive downtown pricing.

227 Bay St, Unit 402

• Accepted Price: $985,000
• Bedrooms: 2 BR
• Square Footage: 1,127 sq ft
• Price per SF: $873.99
• Days on Market: 23 days
• Contract Date: Recent

Market Insight: Bay Street continues to attract luxury buyers, with this two-bedroom contracting at $874/sq ft for premium waterfront amenities.

205 10th St, Unit 3F

• Accepted Price: $879,000
• Bedrooms: 2 BR
• Square Footage: 1,300 sq ft
• Price per SF: $676.15
• Days on Market: 17 days
• Contract Date: Recent

Market Insight: This spacious 10th Street unit offers exceptional value at $676/sq ft for over 1,300 sq ft, demonstrating buyer appreciation for space efficiency.

📋 Under Contract

Properties with fully executed contracts

Market Snapshot

• Properties Under Contract: 2 properties
• Average Contract Price: $575,000
• Average Price/SF: $720
• Average Marketing Time: 24 days

Properties Under Contract:

237 3rd St, Unit 1L

• Contract Price: $449,000
• Bedrooms: 1 BR
• Square Footage: 600 sq ft
• Price per SF: $748.33
• Days on Market: 28 days
• Contract Date: Recent

Market Insight: This 3rd Street entry-level property demonstrates continued demand for affordable downtown access under $450K.

22 Bright St, Unit 1

• Contract Price: $701,000
• Bedrooms: 2 BR
• Square Footage: 1,017 sq ft
• Price per SF: $689.18
• Days on Market: 20 days
• Contract Date: Recent

Market Insight: Bright Street provides excellent two-bedroom value, with this spacious unit offering over 1,000 sq ft at under $690/sq ft.

✅ Recently Sold

Completed transactions providing market benchmarks

Market Snapshot

• Properties Sold: 2 properties
• Average Sale Price: $865,000
• Average Price/SF: $890
• Average Marketing Time: 16 days

Recent Sales:

201 Luis M Marin Blvd, Unit 1503

• Sale Price: $720,000
• Bedrooms: 1 BR
• Square Footage: 750 sq ft
• Price per SF: $960.00
• Days on Market: 20 days
• Closing Date: Recent

Market Insight: This Luis M Marin Boulevard sale demonstrates the premium end of the waterfront corridor, achieving $960/sq ft with superior views or upgraded finishes.

700 Grove St, Unit 5Q

• Sale Price: $1,010,000
• Bedrooms: 2 BR
• Square Footage: 1,235 sq ft
• Price per SF: $817.81
• Days on Market: 12 days
• Closing Date: Recent

Market Insight: Grove Street achieves the million-dollar milestone while maintaining competitive per-square-foot pricing at $818/sq ft for spacious family living.

📊 Daily Market Analysis

Key Takeaways

• Market Velocity: Properties are averaging 22 days from listing to contract across all categories
• Pricing Trends: Extraordinary range from $599/sq ft (Luis M Marin value) to $995/sq ft (2nd Street luxury), showing $396/sq ft spread
• Inventory Levels: 16 active sales listings with exceptional fresh inventory (9 new listings today)
• Buyer Activity: Robust demand across all segments, with three-bedroom scarcity driving premium interest and luxury units approaching $1,000/sq ft

Market Outlook

Today's Friday market represents the strongest fresh inventory surge of the week, with 9 new listings spanning the complete downtown spectrum. The three-bedroom market shows particular strength with the Jersey Avenue listing, while the luxury segment continues its progression toward the $1,000/sq ft milestone. Recent sales demonstrate both waterfront premium achievement and million-dollar market penetration, while maintaining competitive per-square-foot value for space-conscious buyers.

Neighborhood Highlights

• Ultra-Premium ($950+ /sq ft): 2nd Street and Morgan Street leading luxury performance
• Premium Segment ($800-$949 /sq ft): Hudson Street and Bay Street maintaining consistent positioning
• Mid-Range Value ($650-$799 /sq ft): Greene Street, 10th Street, and Bright Street offering competitive options
• Waterfront Spectrum: Luis M Marin showing significant premium variation based on views and finishes

💡 For Buyers and Sellers

Buyer Insights

• Competition Level: High for three-bedroom units and luxury properties approaching $1,000/sq ft, moderate for mid-range with increased selection
• Negotiation Opportunity: Properties over 35 days may offer flexibility; fresh inventory provides excellent selection
• Best Value: Luis M Marin Boulevard waterfront under $600/sq ft; 10th Street providing over 1,300 sq ft under $680/sq ft

Seller Insights

• Optimal Pricing: Three-bedroom units commanding premium interest due to scarcity; luxury properties achieving $900-995/sq ft
• Market Position: Largest weekly inventory creating competitive but opportunity-rich environment
• Strategic Advantage: Premium features and family-sized properties maintaining significant pricing power

🔍 Friday Market Explosion

Fresh Inventory Leadership: 9 new listings creating exceptional Friday buyer selection

Three-Bedroom Spotlight: Jersey Avenue demonstrating continued family market premium

$1,000/sq ft Approach: 2nd Street nearing significant luxury milestone

Million-Dollar Achievement: Grove Street sale crossing $1M threshold

Ultra-Premium Expansion: Multiple properties above $900/sq ft establishing new standards

Market Breadth: From $449K entry-level to $1.25M three-bedroom demonstrating exceptional diversity

📈 Weekly Market Culmination

Friday's 9 new listings represent the week's strongest inventory addition, showcasing:

Premium Evolution: Clear progression toward $1,000/sq ft luxury threshold

Family Market Strength: Three-bedroom scarcity driving significant buyer competition

Million-Dollar Penetration: Grove Street demonstrating $1M+ market accessibility with competitive per-square-foot pricing

Market Sophistication: $396/sq ft pricing spread reflecting mature buyer segmentation

Value Preservation: Entry-level and waterfront options maintaining accessibility

Luxury Momentum: Multiple buildings achieving consistent $900+ per sq ft performance

🏠 Three-Bedroom Market Spotlight

Today's Jersey Avenue listing highlights the family market:

Premium Positioning: $1.25M for rare three-bedroom downtown living Space Efficiency: 1,400 sq ft providing practical family accommodation Market Scarcity: Limited three-bedroom supply driving premium buyer interest Investment Value: Family properties maintaining strong long-term appeal

The combination of luxury market strength and three-bedroom opportunity demonstrates downtown's continued evolution as a comprehensive residential destination.

This daily recap is compiled from MLS data and provides general market information. Individual property details and market conditions can vary. For personalized advice on buying or selling in Downtown Jersey City, consult with a qualified real estate professional.

Next Update: Tomorrow at 9:00 AM

Data as of August 22, 2025, 6:00 PM | Source: Hudson County MLS