Thursday, August 9, 2012

Hoboken Weekly Stats, Ending August 8, 2012



















16 Properties Came on the Market This Week vs 20 last week
520 JEFFERSON ST, HOBOKEN, NJ
330 MONROE ST, HOBOKEN, NJ
327 ADAM ST, HOBOKEN, NJ
1212 WASHINGTON ST, HOBOKEN, NJ
551 OBSERVER HIGHWAY, HOBOKEN, NJ
118CLINTON ST, HOBOKEN, NJ
1120 CLINTON ST, HOBOKEN, NJ
402 ADAMS ST, HOBOKEN, NJ
1300 HUDSON ST, HOBOKEN, NJ
308-310 GARDEN ST, HOBOKEN, NJ
1013 PARK AVE, HOBOKEN, NJ
405 ADAMS ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
610 CLINTON ST, HOBOKEN, NJ 
1125 MAXWELL LANE, HOBOKEN, NJ 


150 14TH ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
213 total active listings are on the market as of the date of this post. 216 are under contract.


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









The Absorption rate this week is 19.36 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 11 closings this week and we have 213 active listings.  So at the current rate of 11 closings per week, it would take 19.36 weeks (213/11) 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/