Hudson Real Estate Monitor: Hoboken Weekly Stats, Ending June 6, 2012

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

526 HUDSON ST, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

12 Properties Went Into Contract This Week vs 8 last week

17 Properties Sold This Week vs 10 Last Week

270 total active listings are on the market as of the date of this post. 222 are under contract.

The Absorption rate this week is 15.88 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 17 closings this week and we have 270 active listings. So at the current rate of 17 closings per week, it would take 15.88 weeks (270/17) 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/

Thursday, June 7, 2012

Hoboken Weekly Stats, Ending June 6, 2012

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