Friday, December 14, 2012

JC, Downtown Weekly Stats, Ending December 12, 2012






















8 Properties came on the Market This Week vs 08 Last week
264 9TH ST, JERSEY CITY, NJ
233 3RD ST, JERSEY CITY, NJ
205 10TH ST, JERSEY CITY, NJ
217 NEWARK AVE, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
25 HUDSON ST, JERSEY CITY, NJ
327 3RD ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ

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

1 Properties Went Into Contract This Week  vs 4 Last week
10 Properties Sold This Week  vs 19 Last week
68 total active listings are on the market as of the date of this post. 143 are under contract.


(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 6.80 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 10 closings this week and we have 68 active listings.  So at the current rate of 10 closings per week, it would take 6.80 weeks (68/10) 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