Thursday, September 13, 2012

Hoboken Weekly Stats, Ending September 12, 2012





















19 Properties Came on the Market This Week vs 10 last week
222 MADISON ST, HOBOKEN, NJ
41 1ST ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
610 NEWARK ST, HOBOKEN, NJ
827 WASHINGTON ST, HOBOKEN, NJ
517-521 JACKSON ST, HOBOKEN, NJ
1228 PARK AVE, HOBOKEN, NJ
825 WASHINGTON ST, HOBOKEN, NJ
501 MONROE ST, HOBOKEN, NJ
551 OBSERVER HIGHWAY, HOBOKEN, NJ
518 MONROE ST, HOBOKEN, NJ
727 MONROE ST, HOBOKEN, NJ
88-90 CLINTON ST, HOBOKEN, NJ
501 MONROE ST, HOBOKEN, NJ
82 CLINTON ST, HOBOKEN, NJ
606 ADAMS ST, HOBOKEN, NJ
914 GARDEN ST, HOBOKEN, NJ
99 GARDEN ST, HOBOKEN, NJ

1125 MAXWELL LANE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.


180 total active listings are on the market as of the date of this post. 177 are under contract.



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









The Absorption rate this week is 13.85 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    13 closings this week and we have 180 active listings.  So at the current rate of 13 closings per week, it would take 13.85 weeks (180/13) 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/