Thursday, February 14, 2013

Hoboken Weekly Stats, Ending February 13, 2013

PPSQFT calculated using condos only.  However, only 1, 2, and 3+ bedrooms are shown on this chart.  The difference between 100% and the total percentage shown by neighborhood equals the excluded studios.  1-4 families are excluded from this analysis.


20 Properties came on the Market This Week vs 40 last week

410 ADAMS ST, HOBOKEN, NJ
317 WILLOW AVE, HOBOKEN, NJ
412 MONROE ST, HOBOKEN, NJ
616 ADAMS ST, HOBOKEN, NJ
323 JACKSON ST, HOBOKEN, NJ
1106 PARK AVE, HOBOKEN, NJ
1500 HUDSON ST, HOBOKEN, NJ
224-226 WILLOW AVE, HOBOKEN, NJ
1013 PARK AVE, HOBOKEN, NJ
407-409 MONROE ST, HOBOKEN, NJ
415 NEWARK ST, HOBOKEN, NJ
1021 GRAND ST, HOBOKEN, NJ
1200 GRAND ST, HOBOKEN, NJ
610 MADISON ST, HOBOKEN, NJ
1425 GARDEN ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
226 PARK AVE, HOBOKEN, NJ
1025 MAXWELL LANE, HOBOKEN, NJ
1230 GARDEN ST, HOBOKEN, NJ

530 MADISON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
21 Properties Went Into Contract This Week vs13 last week
7 Properites sold this Week vs 9 Last Week
163 total active listings are on the market as of the date of this post. 160 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 23.29  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 7 closings this week and we have 163 active listings.  So at the current rate of 7 closings per week, it would take 23.29  weeks (163/07) 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