Friday, October 19, 2012

JC, Downtown Weekly Stats, Ending October 17, 2012



















 






15 Properties came on the Market This Week vs 12 Last week
347 VARICK ST, JERSEY CITY, NJ
10 REGENT ST, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
67 BRIGHT ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
149 ESSEX ST, JERSEY CITY, NJ
254 5TH ST, JERSEY CITY, NJ
174 WASHINGTON ST, JERSEY CITY, NJ



21 GLEN LANE, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
105 GREENE ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
2 2ND ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.



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









The Absorption rate this week is 27.00 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 135 active listings.  So at the current rate of 5 closings per week, it would take 27.00 weeks (135/5) 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