Thursday, March 21, 2013

Hoboken Weekly Stats, Ending March 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.)


32 Properties came on the Market This Week vs 37 last week
114 MONROE ST, HOBOKEN, NJ
322 MADISON ST, HOBOKEN, NJ
88 PARK AVE, HOBOKEN, NJ
101 WILLOW AVE, HOBOKEN, NJ
1106 WASHINGTON ST, HOBOKEN, NJ
1300 HUDSON ST, HOBOKEN, NJ
1331 GRAND ST, HOBOKEN, NJ
511 MADISON ST, HOBOKEN, NJ
531 JEFFERSON ST, HOBOKEN, NJ
611 WILLOW AVE, HOBOKEN, NJ
509 WILLOW AVE, HOBOKEN, NJ
500 HUDSON ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
1100 ADAMS ST, HOBOKEN, NJ
56 JEFFERSON ST, HOBOKEN, NJ
412 WASHINGTON ST, HOBOKEN, NJ
729 MADISON ST, HOBOKEN, NJ
551 OBSERVER HIGHWAY, HOBOKEN, NJ
708 GRAND ST, HOBOKEN, NJ
412 WASHINGTON ST, HOBOKEN, NJ
400 9TH ST, HOBOKEN, NJ
109 HARRISON ST, HOBOKEN, NJ
531 GARDEN ST, HOBOKEN, NJ
823 WASHINGTON ST, HOBOKEN, NJ
225 RIVER ST, HOBOKEN, NJ
1117 PARK AVE, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ

730-732 ADAMS ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
732 ADAMS ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
727 MONROE 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.


200 total active listings are on the market as of the date of this post. 199 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 20.00 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 10 closings this week and we have 200 active listings.  So at the current rate of 10 closings per week, it would take 20.00  weeks (200/10) 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