Thursday, June 14, 2012

Hoboken Weekly Stats, Ending June 13, 2012


















32 Properties Came on the Market This Week vs 22 last week 
131 MADISON ST, Hoboken, NJ
550 1ST ST, Hoboken, NJ
815 PARKAVE, Hoboken, NJ
300 1ST ST, Hoboken, NJ
518 PARKAVE, Hoboken, NJ
1222 WASHINGTON ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
933 GARDEN ST, Hoboken, NJ
80 PARK AVE, Hoboken, NJ
1000 HUDSON ST, Hoboken, NJ
1112 PARK AVE, Hoboken, NJ
904 JEFFERSON ST, Hoboken, NJ
332 MONROE ST, Hoboken, NJ
133 JACKSON ST, Hoboken, NJ
806 WASHINGTON ST, Hoboken, NJ
700 1ST ST, Hoboken, NJ
616 JEFFERSON ST, Hoboken, NJ
224 HUDSON ST, Hoboken, NJ
1200 GRAND ST, Hoboken, NJ
77 JEFFERSON ST, Hoboken, NJ
230 MADISON ST, Hoboken, NJ
402 MADISON ST, Hoboken, NJ
725JEFFERSON ST, Hoboken, NJ
1034 CLINTON ST, Hoboken, NJ
1125 MAXWELL LANE, Hoboken, NJ
200 11TH ST, Hoboken, NJ
1125 MAXWELL LANE, Hoboken, NJ
1125 MAXWELL LANE, Hoboken, NJ

10 Properties Sold This Week vs 17 Last Week  
273 total active listings are on the market as of the date of this post. 223 are under contract.





The Absorption rate this week is 27.30 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 10 closings this week and we have 273 active listings.  So at the current rate of 10 closings per week, it would take 27.30 weeks (273/10) 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

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/