Friday, December 7, 2012

JC, Downtown Weekly Stats, Ending December 06, 2012





















8 Properties came on the Market This Week vs 11 Last week
316 7TH ST, JERSEY CITY, NJ
264 9TH ST, JERSEY CITY, NJ
105 GREENE ST, JERSEY CITY, NJ
25 HUDSON ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
126 DUDLEY ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ

345 7TH ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

(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 2.63 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 19 closings this week and we have 50 active listings.  So at the current rate of 19 closings per week, it would take 2.63 weeks (50/19) 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