Thursday, October 25, 2012

Hoboken Weekly Stats, Ending October 24, 2012



















18 Properties Came on the Market This Week vs 17 last week
1011 WILLOW AVE, HOBOKEN, NJ
636 PARK AVE, HOBOKEN, NJ
104 6TH ST, HOBOKEN, NJ
636 PARK AVE, HOBOKEN, NJ
830 MONROE ST, HOBOKEN, NJ
150 14TH ST, HOBOKEN, NJ
75 GARDEN ST, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
116 BLOOMFIELD ST, HOBOKEN, NJ
116 BLOOMFIELD ST, HOBOKEN, NJ
706 PARK AVE, HOBOKEN, NJ
61 5TH ST, HOBOKEN, NJ
206 WILLOW AVE, HOBOKEN, NJ
116 BLOOMFIELD ST, HOBOKEN, NJ

1450 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1450 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1450 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
225 RIVER ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

11 Properties Went Into Contract This Week  vs 14 last week
162 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 13.50 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   12 closings this week and we have 162 active listings.  So at the current rate of 12 closings per week, it would take 13.50 weeks (162/12) 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/