Friday, June 29, 2012

JC, Downtown Weekly Stats, Ending June 27, 2012





















20 Properties came on the Market This Week vs 13 Last week
238 9TH ST, JERSEY CITY, NJ
4 BEACON WAY, JERSEY CITY, NJ
407 2ND ST, JERSEY CITY, NJ
515 MANILA AVE, JERSEY CITY, NJ
110 LIBERTY VIEW DRIVE, JERSEY CITY, NJ
347 VARICK ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
1 SHORE LANE, JERSEY CITY, NJ
127 BRUNSWICK ST, JERSEY CITY, NJ
127 BRUNSWICK ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
81 MONTGOMERY ST, JERSEY CITY, NJ
10 REGENT ST, JERSEY CITY, NJ
126 DUDLEY ST, JERSEY CITY, NJ
236 1/2 7TH ST, JERSEY CITY, NJ
241 7TH ST, JERSEY CITY, NJ
88F MORGAN ST, JERSEY CITY, NJ
15 WARREN ST, JERSEY CITY, NJ


251.5 YORK ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

9 Properties Sold This Week vs 7 Last week




The Absorption rate this week is 25.44 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 9 closings this week and we have 229 active listings.  So at the current rate of 9 closings per week, it would take 25.44 weeks (229/9) 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/