Ten years after property values began depreciating from their original purchase price in 2004 to 2006, townhouses have regained most of their value and are now where they were in 2008. It’s been a slow and unsteady climb to this and hopefully the trend will continue so the community can keep pace with the rest of the market in Hudson county.
So far this year sellers have achieved an average price of $386,000 for sold properties. In 2008 the average sold price was $386,580 – a difference of only $580.
Pre-construction prices in 2004 to 2006 ranged between $400,000 and $640,000.
In 2007 one year after the builders left the average sold price was $435,636. Values slowly declined thereafter and up until 2016 ranged from $275,000 for the smaller 1400 sq. ft. designs to $372,000 for the 2000 sq. ft. designs.
The upward trend began in earnest in 2017 with an average of $378,413.
The years of declining prices are attributed to the US economy which greatly affected the housing market causing some short sales and foreclosures. Hopefully those days are behind us.
If you’d like to find out what your Boatworks townhouse is worth call me Janice Hall at 201 232 8577.
If you’ve been waiting to buy a townhouse that sits directly in front of the Bay, your wait is over. Here is a well maintained 1800 sq. ft., Bryant design triplex townhouse in beautiful Boatworks Bayonne. Your first floor family room/den allows you breath taking sunset views and private direct access to the Boardwalk. 2 zone heating/cooling, HVAC system replaced in 2012. Hardwood floors, ceramic tiles and crown molding in spacious 2nd floor living and dining rooms, and kitchen. Large master bedroom complete with en suite bath, jetted tub, shower stall, dual vanity and adjoining walk in closet. There is an outdoor pool and parking for guests. The Light Rail is nearby and connects you to the PATH train to NYC. There are also buses to downtown JC, Port Authority and Wall St., NYC a few minutes away.
Impeccable interior facing Penn design townhouse in Boatworks – Bayonne’s most desirable private community.
Buyers confidence in the Boatworks community as a desirable alternative to condos and single family houses is steadily increasing judging from year to date sales in the area.
The average sold price in The Boatworks Bayonne NJ community has increased further since the beginning of the year.
You can have the community feel of Boatworks, without the added fees, plus an extra apartment for extended family or just rental income.
Just listed at $390,000., approx 2000 sq. ft. townhouse facing away from the street. Walk out to your own cozy “private haven” amidst flowering trees and shrubs and unwind at the end of a demanding day, or use as an extension to your living / dining room when entertaining. Immaculately maintained with recessed lights, ganite counter tops and hard wood floors and a multitude of windows that bring the outdoor inside. The upper level boasts master bedroom, walk in closet, ensuite bathroom with dual vanity, jetted tub and shower stall. Guest bedroom, bathroom and laundry room are also on this level. A large den offers extra space and a lot of possibilities on the lower level. Boatworks is a private waterfront community with outdoor pool and boardwalk. It is close to the Light Rail, buses to NYC and Jersey City with connections to the PATH train. Call listing agent Janice Hall 201 232 8577 for a private showing.
The average price of all houses sold in Bayonne from May 2017 thru April 2018 is 15.68% higher, that is $342,601, than the average sold price during May 2016 thru April 2017 of $296,161.
Judging from buyers attendance at Open Houses in Boatworks Bayonne in the past several weeks there are more buyers interested in the Boatworks market than the same time last year. The number of buyers signing in at weekend Open House is approximately 12 compared to 6 during the same period in 2017.