Friday, June 8, 2012

JC, Downtown Weekly Stats, Ending June 6, 2012




















18 Properties came on the Market This Week vs 10 Last week
515 MANILA AVE, JERSEY CITY, NJ
135 MONTGOMERY ST, JERSEY CITY, NJ
251 YORK ST, JERSEY CITY, NJ
234 6TH ST, JERSEY CITY, NJ
65 2ND ST, JERSEY CITY, NJ
232 PAVONIA AVE, JERSEY CITY, NJ
236 1ST ST, JERSEY CITY, NJ
113 COLES ST, JERSEY CITY, NJ
1 GREENE ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
198 GRAND ST, JERSEY CITY, NJ
1 SHORE LANE, JERSEY CITY, NJ
15 WARREN ST, JERSEY CITY, NJ
116 LIBERTY VIEW DRIVE, JERSEY CITY, NJ
273 8TH ST, JERSEY CITY, NJ
524 MANILA ST, JERSEY CITY, NJ
174 WASHINGTON 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





The Absorption rate this week is 47.40 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 5 closings this week and we have 237 active listings.  So at the current rate of 05 closings per week, it would take 47.40 weeks (237/5) 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/