Thursday, January 10, 2013

Hoboken Weekly Stats, Ending January 9, 2013

23 Properties Came on the Market This Week vs 1 last week
520 JEFFERSON ST, HOBOKEN, NJ
519 WILLOW AVE, HOBOKEN, NJ
224 JEFFERSON ST, HOBOKEN, NJ
920 HUDSON ST, HOBOKEN, NJ
222 WILLOW AVE, HOBOKEN, NJ
1108 PARK AVE, HOBOKEN, NJ
222 GRAND ST, HOBOKEN, NJ
811 WASHINGTON ST, HOBOKEN, NJ
920 HUDSON ST, HOBOKEN, NJ
129 HARRISON ST, HOBOKEN, NJ
650 2ND ST, HOBOKEN, NJ
650 2ND ST, HOBOKEN, NJ
71 JEFFERSON ST, HOBOKEN, NJ
81-87 JACKSON ST, HOBOKEN, NJ
715 WILLOW AVE, HOBOKEN, NJ
603-607 MONROE ST, HOBOKEN, NJ
1021 GRAND ST, HOBOKEN, NJ
812 GRAND ST, HOBOKEN, NJ
356 3RD ST, HOBOKEN, NJ
1037 CLINTON ST, HOBOKEN, NJ
1025 MAXWELL LANE, HOBOKEN, NJ

300 NEWARK ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

8 Properties Went Into Contract This Week  vs 3 last week
properties sold this Week vs 14 Last Week
132 total active listings are on the market as of the date of this post. 133 are under contract.

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Hoboken Real Estate Monitor.com now offers Pending and Sold Listings.  





The Absorption rate this week is 33.00 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 132 active listings.  So at the current rate of 4 closings per week, it would take 33.00 weeks (132/04) 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