Thursday, January 24, 2013

Hoboken Weekly Stats, Ending January 23, 2013




20 Properties Came on the Market This Week vs 14 last week
725 JEFFERSON ST, HOBOKEN, NJ
501 9TH ST, HOBOKEN, NJ
228 BLOOMFIELD ST, HOBOKEN, NJ
636 PARK AVE, HOBOKEN, NJ
636 PARK AVE, HOBOKEN, NJ
723 WILLOW AVE, HOBOKEN, NJ
450 7TH ST, HOBOKEN, NJ
2-6 PATERSON AVE, HOBOKEN, NJ
650 2ND ST, HOBOKEN, NJ
132 BLOOMFIELD ST, HOBOKEN, NJ
1100 ADAMS ST, HOBOKEN, NJ
150 14TH ST, HOBOKEN, NJ
131-133 GARDEN ST, HOBOKEN, NJ
115 CLINTON ST, HOBOKEN, NJ
1500 WASHINGTON ST, HOBOKEN, NJ
1109 GARDEN ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
731 BLOOMFIELD ST, HOBOKEN, NJ
731 BLOOMFIELD ST, HOBOKEN, NJ
926 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.




134 total active listings are on the market as of the date of this post. 139 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 26.80 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 5 closings this week and we have 134 active listings.  So at the current rate of 5 closings per week, it would take 26.80 weeks (134/05) 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