Thursday, August 30, 2012

Hoboken Weekly Stats, Ending August 29, 2012



















12 Properties Came on the Market This Week vs 10 last week 
74 GARDEN ST, HOBOKEN, NJ 
72 PARK AVE, HOBOKEN, NJ 
728 WILLOW AVE, HOBOKEN, NJ 
700 1ST ST, HOBOKEN, NJ 
727 MONROE ST, HOBOKEN, NJ 
1120 CLINTON ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
 613 MONROE ST, HOBOKEN, NJ 
508 1ST ST, HOBOKEN, NJ 
1500 HUDSON ST, HOBOKEN, NJ 
60 JEFFERSON ST, HOBOKEN, NJ

1500GARDEN ST, HOBOKEN, NJ, This listing is so new, listing details are only available to subscribed users. Please log on to see listing details


4 Properties Went Into Contract This Week  vs 8 last week 
15 Properties Sold This Week vs 17 Last Week 
191 total active listings are on the market as of the date of this post. 198 are under contract.



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









The Absorption rate this week is 12.73 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    15 closings this week and we have 191 active listings.  So at the current rate of 15 closings per week, it would take 12.73 weeks (191/15) 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/