Friday, November 30, 2012

JC, Downtown Weekly Stats, Ending November 28, 2012






















11 Properties came on the Market This Week vs 16 Last week
135 MONTGOMERY ST, JERSEY CITY, NJ
407 2ND ST, JERSEY CITY, NJ
10 REGENT ST, JERSEY CITY, NJ
20 NEWPORT PARKWAY, JERSEY CITY, NJ
307 4TH ST, JERSEY CITY, NJ
201 LUIS M MARIN BLVD, JERSEY CITY, NJ
565 JERSEY AVE, JERSEY CITY, NJ
174 WASHINGTON ST, JERSEY CITY, NJ
75 MORRIS ST, JERSEY CITY, NJ


5-11 COLES ST, JERSEY CITY, NJ. , 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, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

11 Properties came on the Market This Week vs 16 Last week
4 Properties Sold This Week vs 14 Last week

(For Pending and Sold listing data, 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 30.50 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 4 closings this week and we have 122 active listings.  So at the current rate of 4 closings per week, it would take 30.50 weeks (122/4) 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.


Provided by Donna Antonucci
Prudential Castle Point Realty
(O) 201-216-0909
Cell 201-240-6832