Thursday, September 27, 2012

Hoboken Weekly Stats, Ending September 26, 2012























20 Properties Came on the Market This Week vs 11 last week
118 JEFFERSON ST, HOBOKEN, NJ
832 WASHINGTON ST, HOBOKEN, NJ
307 MONROE ST, HOBOKEN, NJ
318 HUDSON ST, HOBOKEN, NJ
741 PARK AVE, HOBOKEN, NJ
1214 WASHINGTON ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
629 MADISON ST, HOBOKEN, NJ
901 WILLOW AVE, HOBOKEN, NJ
512 JEFFERSON ST, HOBOKEN, NJ
75 MONROE ST, HOBOKEN, NJ
1029 GARDEN ST, HOBOKEN, NJ
1100 ADAMS ST, HOBOKEN, NJ
1314 HUDSON ST, HOBOKEN, NJ
705 ADAMS ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
95 GARDEN ST, HOBOKEN, NJ
610 CLINTON ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ

16 Properties Went Into Contract This Week  vs 11 last week
10 Properties Sold This Week vs 8 Last Week
171 total active listings are on the market as of the date of this post. 181 are under contract.


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













The Absorption rate this week is 17.10 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   10 closings this week and we have 171 active listings.  So at the current rate of 10 closings per week, it would take 17.10 weeks (171/10) 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/