Thursday, July 12, 2012

Hoboken Weekly Stats, Ending July 11, 2012















17 Properties Came on the Market This Week vs 20 last week 
209 2ND ST, Hoboken, NJ
109 JACKSON ST, Hoboken, NJ
108 MADISON ST, Hoboken, NJ
77 RIVER ST, Hoboken, NJ
1450 WASHINGTON ST, Hoboken, NJ
1331 GRAND ST, Hoboken, NJ
717MADISON ST, Hoboken, NJ
501 9TH ST, Hoboken, NJ
117 MADISON ST, Hoboken, NJ
407 MONROE ST, Hoboken, NJ
1331 GRAND ST, Hoboken, NJ
222 PARK AVE, Hoboken, NJ
833 WILLOW AVE, Hoboken, NJ
1233 BLOOMFIELD ST, Hoboken, NJ
839 GARDEN ST, Hoboken, NJ

839 WILLOW AVE, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
400 9TH ST, Hoboken, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

7 Properties Sold This Week vs 19 Last Week
242 total active listings are on the market as of the date of this post. 214 are under contract.






    
The Absorption rate this week is 34.57 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 242 active listings.  So at the current rate of 7 closings per week, it would take 34.57 weeks (242/7) 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.


Hoboken Stats Public PDF  
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/