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/