Thursday, February 28, 2013

Hoboken Weekly Stats, Ending February 27, 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.)

1013 PARK AVE, HOBOKEN, NJ
88 PARK AVE, HOBOKEN, NJ
841 WILLOW AVE, HOBOKEN, NJ
841 WILLOW AVE, HOBOKEN, NJ
109 JACKSON ST, HOBOKEN, NJ
104 6TH ST, HOBOKEN, NJ
915 MADISON ST, HOBOKEN, NJ
610 NEWARK ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
118 CLINTON ST, HOBOKEN, NJ
827 GARDEN ST, HOBOKEN, NJ
830 MONROE ST, HOBOKEN, NJ
924 JEFFERSON ST, HOBOKEN, NJ
86 CLINTON ST, HOBOKEN, NJ
522 HUDSON ST, HOBOKEN, NJ
601 OBSERVER HIGHWAY, HOBOKEN, NJ
725 JEFFERSON ST, HOBOKEN, NJ
629 JEFFERSON ST, HOBOKEN, NJ
600 HUDSON ST, HOBOKEN, NJ
812 PARK AVE, HOBOKEN, NJ
106 4TH ST, HOBOKEN, NJ
1108 BLOOMFIELD ST, HOBOKEN, NJ

659 1ST ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
727 JEFFERSON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
95 GARDEN ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1125 MAXWELL LANE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1103 GARDEN ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

13 Properties Went Into Contract This Week vs 14 last week
6 Properites sold this Week vs 8 Last Week
166 total active listings are on the market as of the date of this post. 191 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 27.67 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 6 closings this week and we have 166 active listings.  So at the current rate of 6 closings per week, it would take 27.67 weeks (166/06) 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