Thursday, March 14, 2013

Hoboken Weekly Stats, Ending March 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.)

37 Properties came on the Market This Week vs 34 last week

214 JEFFERSON ST, HOBOKEN, NJ
222 MONROE ST, HOBOKEN, NJ
72 PARK AVE, HOBOKEN, NJ
1212 WASHINGTON ST, HOBOKEN, NJ
86 MONROE ST, HOBOKEN, NJ
712 WILLOW AVE, HOBOKEN, NJ
74-76 MONROE ST, HOBOKEN, NJ
1200 GRAND ST, HOBOKEN, NJ
508 GRAND ST, HOBOKEN, NJ
329 WILLOW AVE, HOBOKEN, NJ
318 PARK AVE, HOBOKEN, NJ
512 JEFFERSON ST, HOBOKEN, NJ
800 JACKSON ST, HOBOKEN, NJ
812 GRAND ST, HOBOKEN, NJ
501 9TH ST, HOBOKEN, NJ
636 5TH ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
108-112 MONROE ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
1500 WASHINGTON ST, HOBOKEN, NJ
826 WASHINGTON ST, HOBOKEN, NJ
610 NEWARK ST, HOBOKEN, NJ
1100 ADAMS ST, HOBOKEN, NJ
200-202 JACKSON ST, HOBOKEN, NJ
610 MADISON ST, HOBOKEN, NJ
109 GRAND ST, HOBOKEN, NJ
70 ADAMS ST, HOBOKEN, NJ                 
601 OBSERVER HIGHWAY, HOBOKEN, NJ
739 PARK AVE, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
90 MADISON ST, HOBOKEN, NJ
827 BLOOMFIELD ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ

58 MONROE ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1500 HUDSON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
609 MADISON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
325-327 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

15 Properties Went Into Contract This Week  vs 19 last week
11 Properites sold this Week vs 7 Last Week
188 total active listings are on the market as of the date of this post. 204 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 17.09 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 11 closings this week and we have 188 active listings.  So at the current rate of 11 closings per week, it would take 17.09  weeks (188/11) 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