Friday, August 31, 2012

JC, Downtown Weekly Stats, Ending August 29, 2012



















 



20 Properties came on the Market This Week vs 10 Last week
4 BEACON WAY, JERSEY CITY, NJ
135 MONTGOMERY ST, JERSEY CITY, NJ
263 10TH ST, JERSEY CITY, NJ
4 BEACON WAY, JERSEY CITY, NJ
144 SUSSEX ST, JERSEY CITY, NJ
264 9TH ST, JERSEY CITY, NJ
275 8TH ST, JERSEY CITY, NJ
126 DUDLEY ST, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
201 MARIN BLVD, JERSEY CITY, NJ
1 2ND ST, JERSEY CITY, NJ
174 WASHINGTON ST, JERSEY CITY, NJ
126 DUDLEY ST, JERSEY CITY, NJ
15 WARREN ST, JERSEY CITY, NJ
347 4TH ST, JERSEY CITY, NJ
329 1/2 8TH ST, JERSEY CITY, NJ
299 PAVONIA AVE, JERSEY CITY, NJ


88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
149 ESSEX ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
115 SUSSEX ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details



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










The Absorption rate this week is 20.89 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 188 active listings.  So at the current rate of 14 closings per week, it would take 20.89 weeks (188/9) 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