Friday, June 1, 2012

JC, Downtown Weekly Stats, Ending May 30, 2012





















10 Properties came on the Market This Week vs 8 Last week
135 MONTGOMERY ST, JERSEY CITY, NJ
4 CONSTELLATION PL, JERSEY CITY, NJ
245 8TH ST, JERSEY CITY, NJ
135 MONTGOMERY ST, JERSEY CITY, NJ
377 3RD ST, JERSEY CITY, NJ
341 MONMOUTH AVE, JERSEY CITY, NJ
360 5TH ST, JERSEY CITY, NJ
20 NEWPORT PARKWAY, JERSEY CITY, NJ
297.5 MONTGOMERY ST, JERSEY CITY, NJ

232.5 4TH 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 48.20 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 241 active listings.  So at the current rate of 05 closings per week, it would take 48.20 weeks (241/5) 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/