Thursday, April 25, 2013

JC, Downtown Weekly Stats, Ending April 24, 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.


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

344 PAVONIA AVE, JERSEY CITY, NJ

689 LUIS M MARIN BLVD, JERSEY CITY, NJ

349 3RD ST, JERSEY CITY, NJ

389 WASHINGTON ST, JERSEY CITY, NJ

360.5 4TH ST, JERSEY CITY, NJ

65 2ND ST, JERSEY CITY, NJ

264 9TH ST, JERSEY CITY, NJ

369 5TH ST, JERSEY CITY, NJ

240 9TH ST, JERSEY CITY, NJ

88 MORGAN ST, JERSEY CITY, NJ

1 SHORE LANE, JERSEY CITY, NJ

65 2ND ST, JERSEY CITY, NJ

88 MORGAN ST, JERSEY CITY, NJ

212 WASHINGTON ST, JERSEY CITY, NJ

9 COLES ST, JERSEY CITY, NJ

1 GREENE ST, JERSEY CITY, NJ

212 6TH ST, JERSEY CITY, NJ

77 HUDSON ST, JERSEY CITY, NJ

1 SHORE LANE, JERSEY CITY, NJ

1 SHORE LANE, JERSEY CITY, NJ

2 2ND ST, JERSEY CITY, NJ

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

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


11 Properties Sold This Week vs  12 Last week

177 total active listings are on the market as of the date of this post. 186 are under contract.

(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 16.09 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 177 active listings.  So at the current rate of 11 closings per week, it would take 16.09 weeks (177/11) 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.  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