Thursday, August 2, 2012

Hoboken Weekly Stats, Ending August 1, 2012

















20 Properties Came on the Market This Week vs 17 last week 
72 PARK AVE, HOBOKEN, NJ 
320 MADISON ST, HOBOKEN, NJ 
556 1ST ST, HOBOKEN, NJ 
921 WILLOW AVE, HOBOKEN, NJ 
222 MONROE ST, HOBOKEN, NJ 
89 GRAND ST, HOBOKEN, NJ 
1500 WASHINGTON ST, HOBOKEN, NJ 
806 WASHINGTON ST, HOBOKEN, NJ 
806 WASHINGTON ST, HOBOKEN, NJ 
1125 MAXWELL LANE, HOBOKEN, NJ 
635 GARDEN ST, HOBOKEN, NJ 
1425 GARDEN ST, HOBOKEN, NJ 
110 BLOOMFIELD ST, HOBOKEN, NJ 
325-327 WILLOW AVE, HOBOKEN, NJ 
1125 MAXWELL LANE, HOBOKEN, NJ  
1125 MAXWELL LANE, HOBOKEN, NJ   
1022 HUDSON ST, HOBOKEN, NJ  
1233 BLOOMFIELD ST, HOBOKEN, NJ   
1134 BLOOMFIELD ST, HOBOKEN, NJ
 

2 CONSTITUTION CT, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details 

10  Properties Went Into Contract This Week  vs 13 last week 
23 Properties Sold This Week vs 7 Last Week 
229 total active listings are on the market as of the date of this post. 213 are under contract.


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










The Absorption rate this week is 9.96  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 23 closings this week and we have 229 active listings.  So at the current rate of 23 closings per week, it would take 9.96 weeks (229/23) 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/