Friday, August 10, 2012

JC, Downtown Weekly Stats, Ending August 8, 2012




















16 Properties came on the Market This Week vs 6 Last week
280 MARIN BLVD, JERSEY CITY, NJ
167 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
167 WAYNE ST, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
88 MORGAN ST, JERSEY CITY, NJ
133 GRAND ST, JERSEY CITY, NJ
201 MARIN BLVD, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
232 PAVONIA AVE, JERSEY CITY, NJ
1 SHORE LANE, JERSEY CITY, NJ
201 MARIN BLVD, JERSEY CITY, NJ
1 SHORE LANE, JERSEY CITY, NJ
360 6TH ST, JERSEY CITY, NJ
140 BAY ST, JERSEY CITY, NJ
201 MARIN BLVD, JERSEY CITY, NJ



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








The Absorption rate this week is 21.00 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 9 closings this week and we have 189 active listings.  So at the current rate of 9 closings per week, it would take 21.00 weeks (189/9) 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.

Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832