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/