Friday, September 14, 2012

JC, Downtown Weekly Stats, Ending September 12, 2012



















 





21 Properties came on the Market This Week vs 15 Last week

270 MARIN BLVD, JERSEY CITY, NJ
479 MONMOUTH ST, JERSEY CITY, NJ
350 8TH ST, JERSEY CITY, NJ
1 GREENE ST, JERSEY CITY, NJ
341 MONMOUTH ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
126 BRIGHT ST, JERSEY CITY, NJ
10 REGENT ST, JERSEY CITY, NJ
197 BAY ST, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
109 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
109 CHRISTOPHER COLUMBUS DR, JERSEY CITY, NJ
1 GREENE ST, JERSEY CITY, NJ
232 PAVONIA AVE, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
436 2ND ST, JERSEY CITY, NJ
20 2ND ST, JERSEY CITY, NJ
25 HUDSON ST, JERSEY CITY, NJ
336 5TH ST, JERSEY CITY, NJ
214 4TH ST, JERSEY CITY, NJ




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







The Absorption rate this week is 36.00 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 5 closings this week and we have 180 active listings.  So at the current rate of 5 closings per week, it would take 36.00 weeks (180/5) 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