Hudson Real Estate Monitor: Hoboken Weekly Stats, Ending November 21, 2012

Thursday, November 22, 2012

Hoboken Weekly Stats, Ending November 21, 2012

14 Properties Came on the Market This Week vs 13 last week

400 JEFFERSON ST, HOBOKEN, NJ

129 HARRISON ST, HOBOKEN, NJ

700 1ST ST, HOBOKEN, NJ

116 ADAMS ST, HOBOKEN, NJ

826 WASHINGTON ST, HOBOKEN, NJ

1108 HUDSON ST, HOBOKEN, NJ

700 1ST ST, HOBOKEN, NJ

95 GARDEN ST, HOBOKEN, NJ

1100 ADAMS ST, HOBOKEN, NJ

1125 MAXWELL LANE, HOBOKEN, NJ

1210 GARDEN ST, HOBOKEN, NJ

80-82 BLOOMFIELD ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

920 HUDSON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

8 Properties Went Into Contract This Week vs 12 last week

13 Properites sold this Week vs 4 Last Week

150 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.

Click herehttp://hobokenrealestatemonitor.blogspot.com/p/pending-and-sold-listings.html for more information.

The Absorption rate this week is 11.54 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 13 closings this week and we have 150 active listings. So at the current rate of 13 closings per week, it would take 11.54 weeks (150/13) 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.