Friday, June 29, 2012

JC, Downtown Weekly Stats, Ending June 27, 2012





















20 Properties came on the Market This Week vs 13 Last week
238 9TH ST, JERSEY CITY, NJ
4 BEACON WAY, JERSEY CITY, NJ
407 2ND ST, JERSEY CITY, NJ
515 MANILA AVE, JERSEY CITY, NJ
110 LIBERTY VIEW DRIVE, JERSEY CITY, NJ
347 VARICK ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
1 SHORE LANE, JERSEY CITY, NJ
127 BRUNSWICK ST, JERSEY CITY, NJ
127 BRUNSWICK ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
81 MONTGOMERY ST, JERSEY CITY, NJ
10 REGENT ST, JERSEY CITY, NJ
126 DUDLEY ST, JERSEY CITY, NJ
236 1/2 7TH ST, JERSEY CITY, NJ
241 7TH ST, JERSEY CITY, NJ
88F MORGAN ST, JERSEY CITY, NJ
15 WARREN ST, JERSEY CITY, NJ


251.5 YORK ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

9 Properties Sold This Week vs 7 Last week




The Absorption rate this week is 25.44 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 9 closings this week and we have 229 active listings.  So at the current rate of 9 closings per week, it would take 25.44 weeks (229/9) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.

The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.


 See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.
JC Stats Public PDF

Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/


Thursday, June 28, 2012

Hoboken Weekly Stats, Ending June 27, 2012

















19 Properties Came on the Market This Week vs 26 last week
403 MONROE ST, Hoboken, NJ
201 14TH ST, Hoboken, NJ
803 WILLOW AVE, Hoboken, NJ
1222 WASHINGTON ST, Hoboken, NJ
1500 GARDEN ST, Hoboken, NJ
829 GARDEN ST, Hoboken, NJ
509 GARDEN ST, Hoboken, NJ
109 JACKSON ST, Hoboken, NJ
510 MONROE ST, Hoboken, NJ
204 NEWARK ST, Hoboken, NJ
315 GRAND ST, Hoboken, NJ
600 HUDSON ST, Hoboken, NJ
407 ADAMS ST, Hoboken, NJ
509 BLOOMFIELD ST, Hoboken, NJ

105 WILLOW TERRACE, Hoboken, NJ
609 MONROE ST, Hoboken, NJ
1035 BLOOMFIELD ST, Hoboken, NJ

554 OBSERVER HIGHWAY
, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
211 GARDEN ST, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details


13 Properties Went Into Contract This Week vs 14 last week 
18 Properties Sold This Week vs 13 Last Week
  258 total active listings are on the market as of the date of this post. 219 are under contract.




        
The Absorption rate this week is 14.33 weeks. See the attached picture of the absorption rate over   time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 18 closings this week and we have 258 active listings.  So at the current rate of 18 closings per week, it would take 14.33 weeks (258/18) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.

The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
 
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.



Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/


Wednesday, June 27, 2012

What to Look for in Kitchen Cabinet




Not all cabinets are made the same.  Pre-fabricated cabinets can be significantly smaller than the space available especially when consider much of the housing stock in Hudson County is in condos were kitchen space is at a real premium.  Construction materials can make a huge difference in how long they last.

Typical costs:
  • Stock cabinets come pre-made in specific styles, shapes and finishes. A lot depends on the size and shape of your kitchen and the total linear feet of cabinets needed. Basic cabinets (top and bottom) for a 10x12-foot kitchen start at $4,000-$5,000 and up, not including installation and countertops.
  • Semi-custom cabinets let you choose from among a number of options, because they're built after you place your order. They're about double the cost of stock; a 10x12 kitchen begins at $8,000-$10,000 with costs rising for glass fronts, hand-crafted finishes, exotic woods, intricate trim patterns or other options.
  • Cabinets custom-made in a particular design or to fit in a specific layout can cost as much as four times stock prices, or $16,000-$20,000 and up, uninstalled and without countertops.


Notice how these cabinets don't go all the way up and the space between the counter and the cabinet is large.  It's easier to see this in person but the point is, pre-fab cabinets tend to be smaller than custom cabinets both in width and height.


Notice how these are shallow  - another sign of pre-fab cabinets.  They like the ones above are not that tall either.  You would be surprised on how much of difference it makes in how much they can hold.

Again, these things are much more noticeable in person.  In person, you can see that these have what appears to be a synthetic veneer on top of some sort of panel.  Press board is terrible it's heavy but not durable and it's why the hinges start to sag on them very quickly.



How do you identify a good cabinet?


Kitchen showrooms are emporiums of grand illusion. The floors always glisten, countertops are uncluttered by coffemakers and the cabinets — wow! The cabinets are always perfect. No scratches, no dings, none of the 3-year-old's favorite stickers, no dishes cramming shelves. The cabinets are stained in the latest colors endorsed by interior design magazines, floated under 16-foot ceilings (so you'll never notice how tall they're not) and lit by several thousand watts of halogen. When the doors swing shut with resounding thumps and the drawers slide to a firm stop, you're sold. Too bad. You think you bought furniture that will last a lifetime, but you probably got dressed-up orange crates that will last barely a decade.


Top-quality kitchen cabinets are made like good furniture, but even the most devoted watchers of the Food Channel don't know what to look for. Worse, what to look for is usually hidden. So let's scrutinize a finely crafted — but unassembled — base cabinet made by a small family-owned company that has only one line of cabinetry — the good stuff.

Print out the article, and take them along the next time you go kitchen cabinet shopping.




The Well-Built Cabinet



Face: All pieces visible from the front of a cabinet. The wood used on the face of a quality cabinet shouldn't have knots, pitch pockets, sanding scars, grain irregularities or color differences.



1. Face-frame stiles and rails are joined with long tenons (protruding wood tongues) and deep mortises (the slots into which tenons fit). Where two pieces of wood meet in a joint, the line between them almost disappears.
2. Drawer fronts are cut from a single piece of solid wood.
3. Flat door panels are made from solid pieces of wood.



End Panel: The side of the cabinet exposed to view.
4. Solid wood is chosen for similarity of grain and color.
5. Frame pieces have mortise-and-tenon joinery; assembled panel is attached to the carcass (a plywood box) with screws driven from the inside out.





Drawer: All sides are made from hardwood 5/8 inch or thicker.

6. All sides are routed with a groove that supports drawer base.
7. Joints are dovetailed at all corners.










Carcass: The plywood box that forms the cabinet's interior, seen here lying on side panel. (Slide 5)
8. Side and floor panels are 1/2 inch minimum thickness.
9. Plywood shelves are at least 3/4 inch thick.
10. Cabinet floor and back fit into a routed side panel.


Details Make the Difference

Tunable Hinges: Whether visible or hidden, a hinge should be not only strong but also adjustable so that doors can align with the surrounding face-frame. 





Floating Panels:  The frames around panels on the cabinet doors and on the exposed side of the cabinet have deep grooves. Panels aren't glued or fastened into the grooves, which allows them to expand and contract with changes in temperature and humidity without cracking or pushing the frame apart. Tiny pads keep the panels centered. 


Drawer Slides: A drawer supported by two side-mounted slides is much stronger than one that runs over a single slide centered underneath. The quietest slides run on nylon bearings. A good slide can carry loads of at least 75 pounds and will allow a drawer to open fully.

Frame-to-Carcass Joints: A strong connection between the carcass and the face frame (the five narrow pieces of wood that surround the drawer and the doors) is a mark of good craftsmanship. At the bottom corner of the back of the face frame, the vertical piece (the stile) has a wide groove, which locks onto the side panel of the carcass. The narrow groove across the horizontal piece (the rail) lines up with an identical groove in the floor of the cabinet. Biscuits glued into these grooves join the rail to the cabinet floor. 

Frame-to-Carcass Joints: A strong connection between the carcass and the face frame (the five narrow pieces of wood that surround the drawer and the doors) is a mark of good craftsmanship. At the bottom corner of the back of the face frame, the vertical piece (the stile) has a wide groove, which locks onto the side panel of the carcass. The narrow groove across the horizontal piece (the rail) lines up with an identical groove in the floor of the cabinet. Biscuits glued into these grooves join the rail to the cabinet floor.

Shelf Locks:  Shelves should be adjustable and supported by metal brackets, not plastic ones. To keep the shelf from wandering, a locking device such as a plastic retainer plugs into an adjustment hole above.




Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832

www.hobokenrealestatemonitor.com
www.search.hobokenrealestatemonitor.com/map/






Open House and New Listings Map from Hoboken Real Estate Monitor.com, June 27, 2012



The Open House and New Listings Map from Hoboken Real Estate Monitor.com is compiled from a variety of sources:  the Multiple Listing Service (MLS), Mid-Week, Hoboken & Jersey City Reporter, Realtor websites, Realtor to Realtor email blasts, Craig's List and more.  It's a complete inventory.

We post the MLS and Midweek Reporter open houses on Wednesday.  Through the rest of the week , we will be checking Craig's list, realtor sites, email blast, the MLS again later in the week so check back.

We have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link, look on the right for the For Sale By Owner and Non-Internet Listings icon.  It's so new, it's only available on the real time MLS database.

Click this link for the map.  Select which open house day you would like (Sat, Sunday, etc), number of bedrooms and enter the city name (Hoboken, Jersey City) and hit enter.  

Hoboken Real Estate Monitor's Open House Map

If you would like all of the open houses, just select "open house" without entering anything else and hit enter.

If you would like a PDF of the results to take with you as your schedule for your house hunting trip, click on the the PDF icon after your results come up and then select print.

You can review the results in the map or list view.  By clicking on the map icon or address in list view, you will get full listing details for that listing.

Open houses are a great way to learn about the neighborhood without having to engage a realtor.  

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832




Monday, June 25, 2012

Keep Your Home Cool this Summer While Being Kind to the Environment



As the temperature rises, so does the cost of cooling your home, especially if you use an air conditioner. Obviously, the best way to keep your home cool during the summer is to use an air conditioner to keep the temperature down, but there are other options that don’t raise your energy bill quite significantly. Air conditioners may offer tempting temporary relief from summer heat, but they’re a huge environmental no-no. You may be cooling your home, but the fossil fuels you’re burning in the process are only making your summers hotter. This summer, leave the air conditioner in storage and try these environmentally-friendly alternatives instead. Fundamentally, the idea is to minimize sources of heat and remove built-up heat from inside.
Fans and Ceiling Fans


  • If you’re looking for ways to beat the heat, a ceiling fan can be a great investment for your home. This one appliance can make a room feel 6 or 7 degrees cooler, and even the most power-hungry fan costs less than $10 a month to use if you keep it on for 12 hours a day. Good fans make it possible for you to raise your thermostat setting and save on air-conditioning costs. Fans don’t use much energy, but when air is circulating, it feels much cooler. Ceiling fans are best, but a good portable fan can be very effective as well.
  • You should remember that even mild air movement of 1 mph can make you feel three or four degrees cooler. Also make sure your ceiling fan is turned for summer – you should feel the air blown downward.


Shades, drapes, or blinds


Install white window shades, drapes, or blinds to reflect heat away from the house. Close blinds, shades and draperies facing the sun (east-facing windows in the morning and west-facing windows in the afternoon) to keep the sun’s heat out and help fans or air conditioners cool more efficiently. Always remember that the best way to keep your home cool is to keep the heat out.


Update Your Windows
  • New windows today have much more energy efficient glass, frames and seals.  Investing in good windows can save you a lot of money in cooling and heating expenses over a relatively short period of time.  I installed windows in my building in 2010 and we saw 30% more efficiency. I put in 4 windows at $600 a piece. The windows will pay for themselves in 3 years.    Put in good windows it's worth it not just for ongoing heating and cooling expenses but for comfort as well.  The temperature is more consistent throughout the apartment  - no drafts in winter, keeps cool air in, in the Summer


Insulate your Attic
  • If the attic isn’t already insulated or is under-insulated, insulate it NOW. Upgrading from 3 inches to 12 inches can cut cooling costs by 10 percent.
Internal Heat
  • The most common sources of internal heat gain are; appliances, electronic devices, and lighting. Be aware from where the heat is comming. Now if you have air conditioning, use it wisely. Don’t put lamps, televisions or other heat-generating appliances next to your air-conditioning thermostat, because the heat from these appliances will cause the air conditioner to run longer. The heat they produce will make it think your house is warmer than it really is, and your system will run harder than it needs to.
  • Unless you absolutely need them, turn off incandescent lights and heat-generating appliances. Replace incandescent bulbs with compact fluorescents; they produce the same light but use a fifth the energy and heat.
  • You should also try to avoid heat-generating activities, such as cooking, on hot days or during the hottest part of the day. If you are cooking, use your range fan to vent the hot air out of your house. By reducing the amount of heat in your home, you will have to use less energy to cool it.


Plants
  • Plant trees or shrubs to shade air conditioning units, but not block the airflow. A unit operating in the shade uses less electricity. Deciduous trees planted on the south and west sides will keep your house cool in the summer and allow the sunlight to warm the house during the winter. For example just three trees, properly placed around a house, can save between $100 and $250 annually in cooling and heating costs, and daytime air temperatures can be 3 degrees to 6 degrees cooler in tree-shaded neighborhoods.


Roof and Walls
  • Paint your roof white – If you’ve got a flat roof, paint it with a specially formulated reflective paint or just paint it white. The reflective effect will help to keep the rooms under the flat roof much cooler.


Other things to remember
  • Humidity makes room air feel warmer, so reduce indoor humidity. Minimize mid-day washing and drying clothes, showering, and cooking. And when you must do these things, turn on ventilating fans to help extract warm, moist air.
  • Avoid landscaping with lots of unshaded rock, cement, or asphalt on the south or west sides because it increases the temperature around the house and radiates heat to the house after the sun has set.

Information provided by Donna Antonucci
Prudential Castle Point Realty

201-240-6832

Friday, June 22, 2012

JC, Downtown Weekly Stats, Ending June 20, 2012




















13 Properties came on the Market This Week vs 18 Last week
112 LIBERTY VIEW DRIVE, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
4B EACON WAY, JERSEY CITY, NJ
1 GREENE ST, JERSEY CITY, NJ
275 8TH ST, JERSEY CITY, NJ
331 VARICK ST, JERSEY CITY, NJ
123 LIBERTY VIEW DRIVE, JERSEY CITY, NJ
122 RIVER ST, JERSEY CITY, NJ
105 GREENE ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
20 NEWPORT PARKWAY, JERSEY CITY, NJ
20 2ND ST, JERSEY CITY, NJ
56 WAYNE ST, JERSEY CITY, NJ






The Absorption rate this week is 33.57 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 7 closings this week and we have 235 active listings.  So at the current rate of 7 closings per week, it would take 33.57 weeks (235/7) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.
The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.


 See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.
JC Stats Public PDF

Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/


Thursday, June 21, 2012

Hoboken Weekly Stats, Ending June 20, 2012


















26 Properties Came on the Market This Week vs 32 last week  

212 JACKSON ST, Hoboken, NJ 
131 MADISON ST, Hoboken, NJ 
215 BLOOMFIELD ST, Hoboken, NJ 
606 1ST ST, Hoboken, NJ 
135 GARDEN ST, Hoboken, NJ 
218 JEFFERSON ST, Hoboken, NJ 
133 MADISON ST, Hoboken, NJ 
80 PARK AVE, Hoboken, NJ 
806 WASHINGTON ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
212 MADISON ST, Hoboken, NJ 
108 JACKSON ST, Hoboken, NJ 
224 BLOOMFIELD ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
127 CLINTON ST, Hoboken, NJ 
700 1ST ST, Hoboken, NJ 
121 BLOOMFIELD ST, Hoboken, NJ 
415 NEWARK ST, Hoboken, NJ 
1109 GARDEN ST, Hoboken, NJ 
78 JACKSON ST, Hoboken, NJ 
128 JACKSON ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
1450 WASHINGTON ST, Hoboken, NJ 
200 11TH ST, Hoboken, NJ 


14 Properties Went Into Contract This Week  vs 16 last week 
13 Properties Sold This Week vs 10 Last Week  
262 total active listings are on the market as of the date of this post. 227 are under contract.





The Absorption rate this week is 20.15 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 13 closings this week and we have 262 active listings.  So at the current rate of 13 closings per week, it would take 20.15 weeks (262/13) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.
The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
 
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.


Hoboken Stats Public PDF  
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832 begin_of_the_skype_highlighting            201-240-6832      end_of_the_skype_highlighting

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/

Wednesday, June 20, 2012

Open House and New Listings Map from Hoboken Real Estate Monitor.com, June 20, 2012



The Open House and New Listings Map from Hoboken Real Estate Monitor.com is compiled from a variety of sources:  the Multiple Listing Service (MLS), Mid-Week, Hoboken & Jersey City Reporter, Realtor websites, Realtor to Realtor email blasts, Craig's List and more.  It's a complete inventory.

We post the MLS and Midweek Reporter open houses on Wednesday.  Through the rest of the week , we will be checking Craig's list, realtor sites, email blast, the MLS again later in the week so check back.

We have listings for For Sale by Owner and Non-Internet listings in the private view of the map.  Sign up today and get the most complete, easy to use open house and new listings map covering both Hoboken and downtown Jersey City. If you get a listing on the private view that lacks a link, look on the right for the For Sale By Owner and Non-Internet Listings icon.  It's so new, it's only available on the real time MLS database.

Click this link for the map.  Select which open house day you would like (Sat, Sunday, etc), number of bedrooms and enter the city name (Hoboken, Jersey City) and hit enter.  

Hoboken Real Estate Monitor's Open House Map

If you would like all of the open houses, just select "open house" without entering anything else and hit enter.

If you would like a PDF of the results to take with you as your schedule for your house hunting trip, click on the the PDF icon after your results come up and then select print.

You can review the results in the map or list view.  By clicking on the map icon or address in list view, you will get full listing details for that listing.

Open houses are a great way to learn about the neighborhood without having to engage a realtor.  

Walk around Hoboken on a Saturday or Sunday afternoon, looking at real estate. Get an idea of what your dollar can buy, in what part of town, with what amenity level. The map is refreshed through Thursday afternoon so be sure to stop by again before your weekend search. Sort by price, number of bedrooms or day of week! By subscribing, you will be able to not only get the basics - price, number of bedrooms, and street location but will get the unit number, and the full Multiple Listing Service listing with photos, square footage and more. . . .

Provided by Donna Antonucci
Prudential Castle Point Realty
201-240-6832




Friday, June 15, 2012

JC, Downtown Weekly Stats, Ending June 13, 2012




















18 Properties came on the Market This Week vs 18 Last week
50 BRIGHT ST, JERSEY CITY, NJ
407 2ND ST, JERSEY CITY, NJ
689 LUIS M MARIN BLVD, JERSEY CITY, NJ
43 MERCER ST, JERSEY CITY, NJ
205 10TH ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
389 WASHINGTON ST, JERSEY CITY, NJ
389 WASHINGTON ST, JERSEY CITY, NJ
109 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
56 ERIE ST, JERSEY CITY, NJ
295 4TH ST, JERSEY CITY, NJ
412 2ND ST, JERSEY CITY, NJ
327 MERCER LOOP, JERSEY CITY, NJ
345 4TH ST, JERSEY CITY, NJ
4 BEACON WAY, JERSEY CITY, NJ
258 BARROW ST, JERSEY CITY, NJ
247.5 YORK ST, JERSEY CITY, NJ
586 JERSEY AVE, JERSEY CITY, NJ

247.5 YORK ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details





The Absorption rate this week is 18.69 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 13 closings this week and we have 243 active listings.  So at the current rate of 13 closings per week, it would take 18.69 weeks (243/13) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.

The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

 See the embedded document below for Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price.
JC Stats Public PDF

Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/