Thursday, July 26, 2012

Hoboken Weekly Stats, Ending July 25, 2012















17 Properties Came on the Market This Week vs 25 last week 
328 MADISON ST, HOBOKEN, NJ 
228 BLOOMFIELD ST, HOBOKEN, NJ 
64 2ND ST, HOBOKEN, NJ 
228 BLOOMFIELD ST, HOBOKEN, NJ 
1016-1018 WILLOW AVE, HOBOKEN, NJ 
122 JACKSON ST, HOBOKEN, NJ 
700 1ST ST, HOBOKEN, NJ 
700 1ST ST, HOBOKEN, NJ 
1200 GRAND ST, HOBOKEN, NJ 
222 GRAND ST, HOBOKEN, NJ 
809 BLOOMFIELD ST, HOBOKEN, NJ 
66A JEFFERSON ST, HOBOKEN, NJ 
1242 GARDEN ST, HOBOKEN, NJ 
1242 GARDEN ST, HOBOKEN, NJ 
225 RIVER ST, HOBOKEN, NJ

 79 MADISON AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details 

102-104 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details 

13 Properties Went Into Contract This Week  vs 10 last week
 7 Properties Sold This Week vs 12 Last Week
221 total active listings are on the market as of the date of this post. 230 are under contract.


Hoboken Real Estate Monitor.com now offers Pending and Sold Listings.  






The Absorption rate this week is 31.57 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 221 active listings.  So at the current rate of 7 closings per week, it would take 31.57 weeks (221/7) 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 begin_of_the_skype_highlighting            201-240-6832      end_of_the_skype_highlighting

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/