Thursday, December 13, 2012

Hoboken Weekly Stats, Ending December 12, 2012


















10 Properties Came on the Market This Week vs 8 last week
107 HARRISON ST, HOBOKEN, NJ
1112 HUDSON ST, HOBOKEN, NJ
220 7TH ST, HOBOKEN, NJ
812 GRAND ST, HOBOKEN, NJ
812 GRAND ST, HOBOKEN, NJ
518 MONROE ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ

557 2ND 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.
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.

135 total active listings are on the market as of the date of this post. 163 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 10.38 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 135 active listings.  So at the current rate of 19 closings per week, it would take 10.38 weeks (135/13) 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.