Thursday, February 21, 2013

Hoboken Weekly Stats, Ending February 20, 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.)

27 Properties came on the Market This Week vs 20 last week
421 JACKSON ST, HOBOKEN, NJ
605 1ST ST, HOBOKEN, NJ
813 WILLOW AVE, HOBOKEN, NJ
608 MADISON ST, HOBOKEN, NJ
123 WASHINGTON ST, HOBOKEN, NJ
839 WILLOW AVE, HOBOKEN, NJ
512 JEFFERSON ST, HOBOKEN, NJ
1115 WILLOW AVE, HOBOKEN, NJ
689 MARIN BLVD, HOBOKEN, NJ
623 MADISON ST, HOBOKEN, NJ
805 WILLOW AVE, HOBOKEN, NJ
618 MONROE ST, HOBOKEN, NJ
332 MONROE ST, HOBOKEN, NJ
501 MONROE ST, HOBOKEN, NJ
827 GARDEN ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
609 OBSERVER HIGHWAY, HOBOKEN, NJ
70 ADAMS ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ
659 1ST ST, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ

1500 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1325 ADAMS ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.


161 total active listings are on the market as of the date of this post. 179 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 20.13 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 8 closings this week and we have 161 active listings.  So at the current rate of 8 closings per week, it would take 20.13 weeks (161/08) 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