Thursday, November 29, 2012

Hoboken Weekly Stats, Ending November 28, 2012




















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

414 MADISON ST, HOBOKEN, NJ
1500 WASHINGTON ST, HOBOKEN, NJ


419 ADAMS ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
815 WILLOW AVE, 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.
1500 HUDSON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1125 MAXWELL LANE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

148 total active listings are on the market as of the date of this post. 181 are under contract.

(You must log-into the search engine and search pending and sold listings to see these property details)


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














The Absorption rate this week is 148.00 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 1 closings this week and we have 148 active listings.  So at the current rate of 1 closings per week, it would take 148.00 weeks (148/1) 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.