Thursday, August 23, 2012

Hoboken Weekly Stats, Ending August 22, 2012


















10 Properties Came on the Market This Week vs 12 last week
815 PARK AVE, HOBOKEN, NJ
818 JEFFERSON ST, HOBOKEN, NJ
1033 WASHINGTON ST, HOBOKEN, NJ
308 GARDEN ST, HOBOKEN, NJ
610 NEWARK ST, HOBOKEN, NJ
75 MONROE ST, HOBOKEN, NJ
727 MONROE ST, HOBOKEN, NJ
1025 MAXWELL LANE, HOBOKEN, NJ 
520 BLOOMFIELD ST, HOBOKEN, NJ

7  Properties Went Into Contract This Week  vs 21 last week  
15 Properties Sold This Week vs 11 Last Week
208 total active listings are on the market as of the date of this post. 206 are under contract.



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








The Absorption rate this week is 11.82 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    17 closings this week and we have 201 active listings.  So at the current rate of 17 closings per week, it would take 11.82 weeks (201/17) 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/