Thursday, March 28, 2013

Hoboken Weekly Stats, Ending March 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.)

45 Properties came on the Market This Week vs32 last week
322 MADISON ST, HOBOKEN, NJ
330 MONROE ST, HOBOKEN, NJ
1107 WASHINGTON ST, HOBOKEN, NJ
1015 WASHINGTON ST, HOBOKEN, NJ
738 WASHINGTON ST, HOBOKEN, NJ
74 GARDEN ST, HOBOKEN, NJ
1000 HUDSON ST, HOBOKEN, NJ
659 1ST ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
933 WILLOW AVE, HOBOKEN, NJ
312 MADISON ST, HOBOKEN, NJ
217 BLOOMFIELD ST, HOBOKEN, NJ
744 PARK AVE, HOBOKEN, NJ
1200 GRAND ST, HOBOKEN, NJ
729 MADISON ST, HOBOKEN, NJ
915 MADISON ST, HOBOKEN, NJ
300 NEWARK ST, HOBOKEN, NJ
812 GARDEN ST, HOBOKEN, NJ
205 ADAMS ST, HOBOKEN, NJ
700 1ST ST, HOBOKEN, NJ
70 ADAMS ST, HOBOKEN, NJ
830 MONROE ST, HOBOKEN, NJ
601 OBSERVER HIGHWAY, HOBOKEN, NJ
501 9TH ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ
83 MONROE ST, HOBOKEN, NJ
83 MONROE ST, HOBOKEN, NJ
82 CLINTON ST, HOBOKEN, NJ
1500 GARDEN ST, HOBOKEN, NJ
213 CLINTON ST, HOBOKEN, NJ
262 7TH ST, HOBOKEN, NJ
825 ADAMS ST, HOBOKEN, NJ
825 ADAMS ST, HOBOKEN, NJ
231 MADISON ST, HOBOKEN, NJ
231 MADISON ST, HOBOKEN, NJ
122 PARK AVE, HOBOKEN, NJ
511 MADISON ST, HOBOKEN, NJ
1249 BLOOMFIELD ST, HOBOKEN, NJ
1125 MAXWELL LANE, HOBOKEN, NJ

717 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
520 PARK AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
215 GRAND ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
911 WILLOW AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
261 4TH ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
510 PARK AVE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

196 total active listings are on the market as of the date of this post. 236 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 11.53 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 17 closings this week and we have 196 active listings.  So at the current rate of 17 closings per week, it would take 11.53weeks (196/17) 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