Friday, April 19, 2013

JC, Downtown Weekly Stats, Ending April 17, 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.

28 Properties came on the Market This Week vs 24 Last week

135 MONTGOMERY ST, JERSEY CITY, NJ
135 MONTGOMERY ST, JERSEY CITY, NJ
105 GREENE ST, JERSEY CITY, NJ
210 VAN VORST ST, JERSEY CITY, NJ
238 GROVE ST, JERSEY CITY, NJ
96 TIDEWATER ST, JERSEY CITY, NJ
284 MONMOUTH ST, JERSEY CITY, NJ
80 MORRIS ST, JERSEY CITY, NJ
205 10TH ST, JERSEY CITY, NJ
259 GROVE ST, JERSEY CITY, NJ
88 MORGAN ST, JERSEY CITY, NJ
159 2ND ST, JERSEY CITY, NJ
389 WASHINGTON BLVD, JERSEY CITY, NJ
311 WASHINGTON ST, JERSEY CITY, NJ
411 2ND ST, JERSEY CITY, NJ
346 4TH ST, JERSEY CITY, NJ
65 2ND ST, JERSEY CITY, NJ
77 HUDSON ST, JERSEY CITY, NJ
389 WASHINGTON ST, JERSEY CITY, NJ
346 4TH ST, JERSEY CITY, NJ
354 7TH ST, JERSEY CITY, NJ
211 4TH ST, JERSEY CITY, NJ
299 PAVONIA AVE, JERSEY CITY, NJ
323.5 1ST ST, JERSEY CITY, NJ
247 GROVE ST, JERSEY CITY, NJ
346 4TH ST, JERSEY CITY, NJ

10 REGENT ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details
159 2ND ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

10 Properties Sold This Week vs  12 Last week
168 total active listings are on the market as of the date of this post. 185 are under contract.

(You must log-into the search engine and search pending and sold listings to see these property details)
(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.)



(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 16.80 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 168 active listings.  So at the current rate of 10 closings per week, it would take 16.80 weeks (168/10) 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.  Outlyer scan 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