Friday, March 22, 2013

JC, Downtown Weekly Stats, Ending March 21, 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.


26 Properties came on the Market This Week vs 12 Last week
135 MONTGOMERY ST, JERSEY CITY, NJ
291 8TH ST, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
127 BRUNSWICK ST, JERSEY CITY, NJ
689 MARIN BLVD, JERSEY CITY, NJ
317 4TH ST, JERSEY CITY, NJ
25 MC WILLIAMS PL, JERSEY CITY, NJ
132 COLES ST, JERSEY CITY, NJ
444 JERSEY AVE, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
112 TIDEWATER ST, JERSEY CITY, NJ
1 GREENE ST, JERSEY CITY, NJ
149 ESSEX ST, JERSEY CITY, NJ
296 GRAND ST, JERSEY CITY, NJ
616 JERSEY AVE, JERSEY CITY, NJ
149 ESSEX ST, JERSEY CITY, NJ
384 5TH ST, JERSEY CITY, NJ
20 NEWPORT PARKWAY, JERSEY CITY, NJ

234 10TH ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ.  This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
389 WASHINGTON ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
88 MORGAN ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

140 total active listings are on the market as of the date of this post. 175 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 9.33 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 15 closings this week and we have 140 active listings.  So at the current rate of 15 closings per week, it would take 9.33 weeks (140/15) 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