THIRD QUARTER 2010

QUARTERLYMARKET

REPORT

HOBOKEN/DOWNTOWN JERSEY CITY

Hoboken: All Apartments

Hoboken’s average apartment price of $497,873 during the third quarter was 2% higher than a year ago. The number of sales fell 18%, from 200 a year ago to 165. Units spent 20% less time on the market than during 2009’s third quarter, at an average of 82 days.

2 Third Quarter 2010

Asking Vs. Selling Price

85%

90%

95%

100%

50 days

75 days

100 days

125 days

Time on the Market

Average Sale Price Median Sale Price

$550,000

$500,000

$450,000

$400,000

$350,000

$250,000

$300,000

Average and Median Sale Price Number of Sales

50

100

150

200

250

300

$521,289 $475,000

1Q10

$500,138 $458,250

2Q10

$497,873 $455,000

3Q10

$486,899 $472,500

3Q09

$483,355 $465,000

4Q09

138

1Q10

268

2Q10

165

3Q10

200

3Q09

208

4Q09

73

2Q10

82

3Q10

102

3Q09

102

4Q09

91

1Q10

95.3%

1Q10

96.5%

2Q10

95.8%

3Q10

95.9%

3Q09

96.0%

4Q09

Third Quarter 2010 3

halstead.comDowntown Jersey City: All Apartments

Sale prices for apartments in Downtown Jersey City averaged $464,024 in the third quarter, 5% more than a year ago. The median price rose 12% during this time, reaching $455,000. Closings rose 6% from the third quarter of 2009, while apartments took an average of 93 days to sell.

50 days

75 days

100 days

125 days

Time on the Market

101

1Q10

92

2Q10

85

3Q10

93

3Q09

77

4Q09

Asking Vs. Selling Price

85%

90%

95%

100% 95.1%

1Q10

95.2%

2Q10

95.6%

3Q10

95.0%

3Q09

95.8%

4Q09

Average Sale Price Median Sale Price

$450,000

$400,000

$350,000

$300,000

$250,000

$150,000

$200,000

Average and Median Sale Price$411,145 $407,000

1Q10

$437,540 $405,000

2Q10

$464,024 $455,000

3Q10

$442,787 $407,500

3Q09

$414,069 $392,500

4Q09

Number of Sales

0

25

50

75

100

125

150

74

1Q10

102

2Q10

84

3Q10

89

3Q09

131

4Q09

Prepared by Greg Heym, Chief Economist, Halstead Property, LLCData is sourced from the Hudson County MLS

©2009 by Halstead Property New Jersey, LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without Halstead Property’s prior consent. While information is believed true, no guaranty is made of accuracy.

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Eastside1356 Third AvenueNew York, NY 10075212.734.0010

Westside408 Columbus AvenueNew York, NY 10024212.769.3000

Village831 BroadwayNew York, NY 10003212.253.9300

SoHo451 West BroadwayNew York, NY 10012212.475.4200

Midtown770 Lexington AvenueNew York, NY 10065212.317.7800

Harlem175 Lenox AvenueNew York, NY 10026212.381.2570

Brooklyn Heights 150 Montague StreetBrooklyn, NY 11201718.613.2000

Boerum Hill Office495 Atlantic AvenueBrooklyn, NY 11217718.613.2090

Cobble Hill162 Court StreetBrooklyn, NY 11201718.613.2020

Greenwich2 Sound View DriveGreenwich, CT 06830203.869.8100

Stamford1099 High Ridge RoadStamford, CT 06905203.329.8801

Darien671 Boston Post RoadDarien, CT 06820203.655.1418

New Canaan183 Elm StreetNew Canaan, CT 06840203.966.7800

Westport379 Post Road EastWestport, CT 06680203.221.0666

Wilton21 River RoadWilton, CT 06897203.762.8118

Rowayton140 Rowayton AvenueRowayton, CT 06853203.853.1418

Metro New Jersey79 Hudson StreetHoboken, NJ 07030201.478.6700

Riverdale 3531 Johnson AvenueRiverdale, NY 10463718.878.1700

Hudson Valley526 Warren StreetHudson, NY 12534518.828.0181

Development Marketing831 BroadwayNew York, NY 10003212.253.9300

Investment Sales770 Lexington AveNew York, NY 10065212.381.3208

Global Services770 Lexington AvenueNew York, NY 10065212.381.6521

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