Thursday, September 6, 2012

Hoboken Weekly Stats, Ending September 5, 2012




















9 Properties Came on the Market This Week vs 12 last week 
89 GRAND ST, HOBOKEN, NJ
622 PARK AVE, HOBOKEN, NJ 
205 PARK AVE, HOBOKEN, NJ 
609-613 JEFFERSON ST, HOBOKEN, NJ 
700 1ST ST, HOBOKEN, NJ 
411 MONROE ST, HOBOKEN, NJ 
1125 MAXWELL LANE, HOBOKEN, NJ 
121 MONROE ST, HOBOKEN, NJ 
1125 MAXWELL LANE, HOBOKEN, NJ

8 Properties Went Into Contract This Week  vs 4 last week 
23 Properties Sold This Week vs 15 Last Week
182 total active listings are on the market as of the date of this post. 183 are under contract.



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







The Absorption rate this week is 7.91 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    23 closings this week and we have 182 active listings.  So at the current rate of 23 closings per week, it would take 7.91 weeks (182/23) 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/