Thursday, October 18, 2012

Hoboken Weekly Stats, Ending October 17, 2012




















17 Properties Came on the Market This Week vs 25 last week
330 MADISON ST, HOBOKEN, NJ
817 PARK AVE, HOBOKEN, NJ
403 MONROE ST, HOBOKEN, NJ
419 MADISON ST, HOBOKEN, NJ
72 GARDEN ST, HOBOKEN, NJ
920 HUDSON ST, HOBOKEN, NJ
920 HUDSON ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
1300 HUDSON ST, HOBOKEN, NJ
112 JEFFERSON ST, HOBOKEN, NJ
805 WILLOW AVE, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
812 PARK AVE, HOBOKEN, NJ
930 WILLOW AVE, HOBOKEN, NJ


1025 MAXWELL LANE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.


161 total active listings are on the market as of the date of this post. 176 are under contract.


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












The Absorption rate this week is 17.89 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 161 active listings.  So at the current rate of 9 closings per week, it would take 17.89 weeks (161/9) 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.
    

Hoboken Stats Public PDF  
Information Provided by:

Donna Antonucci

Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com


www.search.hobokenrealestatemonitor.com/map/