Thursday, June 7, 2012

Hoboken Weekly Stats, Ending June 6, 2012


















22 Properties Came on the Market This Week vs 28 last week 
718 GRAND ST, Hoboken, NJ
209 2ND ST, Hoboken, NJ
60 MADISON ST, Hoboken, NJ
708-710 WILLOW AVE, Hoboken, NJ
122 MADISON ST, Hoboken, NJ
227 PARK AVE, Hoboken, NJ
609-613 JEFFERSON ST, Hoboken, NJ
420 JEFFERSON ST, Hoboken, NJ
1222 WASHINGTON ST, Hoboken, NJ
331 GRAND ST, Hoboken, NJ
1450 WASHINGTON ST, Hoboken, NJ
307 1ST ST, Hoboken, NJ
700 1ST ST, Hoboken, NJ
77 JEFFERSON ST, Hoboken, NJ
413 BLOOMFIELD ST, Hoboken, NJ
1125 MAXWELL LANE, Hoboken, NJ
222 PARK AVE, Hoboken, NJ
604 MONROE ST, Hoboken, NJ
207 2ND ST, Hoboken, NJ
225 RIVER ST, Hoboken, NJ

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


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/