Thursday, July 19, 2012

Hoboken Weekly Stats, Ending July 18, 2012

25 Properties Came on the Market This Week vs 17 last week 
300 PARK AVE, Hoboken, NJ 
358 3RD ST, Hoboken, NJ 
80 PARK AVE, Hoboken, NJ 
301 MONROE ST, Hoboken, NJ 
741 PARK AVE, Hoboken, NJ 
232 MONROE ST, Hoboken, NJ
1122 WASHINGTON ST, Hoboken, NJ 
1302 PARK AVE, Hoboken, NJ 
41 1ST ST, Hoboken, NJ 
222 GRAND ST, Hoboken, NJ 
56 JEFFERSON ST, Hoboken, NJ 
805 WILLOW AVE, Hoboken, NJ 
703 PARK AVE, Hoboken, NJ 
606-608 CLINTON ST, Hoboken, NJ 
536 GRAND ST, Hoboken, NJ
800-830 JACKSON ST, Hoboken, NJ 
81-87 JACKSON ST, Hoboken, NJ 
517 ADAMS ST, Hoboken, NJ 
66A JEFFERSON ST, Hoboken, NJ 
113 BLOOMFIELD ST, Hoboken, NJ 
1125 MAXWELL LANE, Hoboken, NJ 
101 PARK AVE, Hoboken, NJ 
1025 MAXWELL LANE, Hoboken, NJ 
200 11TH ST, Hoboken, NJ 

10 Properties Went Into Contract This Week  vs 19 last week 
12 Properties Sold This Week vs 7 Last Week  
243 total active listings are on the market as of the date of this post. 216 are under contract.

The Absorption rate this week is 20.25 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 12 closings this week and we have 243 active listings.  So at the current rate of 12 closings per week, it would take 20.25 weeks (243/12) 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 begin_of_the_skype_highlighting            201-240-6832      end_of_the_skype_highlighting