Friday, June 21, 2013

JC, Downtown Weekly Stats, Ending June 19th, 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.

21 Properties came on the Market This Week vs Last week 22




  • 301 GRAND ST (UNIT C (305))MLS #130007569CITYJERSEY CITY (DOWNTOWN)BEDROOMS3 (OR MORE) BEDROOMSSTATUSNEW LISTING$895,000
  • 140 BAY ST (UNIT 2C)MLS #130007537CITYJERSEY CITY (DOWNTOWN)BEDROOMS2 BEDROOMSSTATUSNEW LISTING$675,000
  • 65 2ND ST (UNIT 1903)MLS #130007542CITYJERSEY CITY (DOWNTOWN)BEDROOMS2 BEDROOMSSTATUSNEW LISTING$550,000
  • 321 1ST STMLS #130007430CITYJERSEY CITY (DOWNTOWN)BEDROOMS1-4 FAMILYSTATUSNEW LISTING$1,175,000
  • 1 SHORE LANE (UNIT 2005)MLS #130007419CITYJERSEY CITY (DOWNTOWN)BEDROOMS1 BEDROOMSTATUSNEW LISTING$550,000
  • 232 MONTGOMERY ST (UNIT 3)MLS #130007332CITYJERSEY CITY (DOWNTOWN)BEDROOMS3 (OR MORE) BEDROOMSSTATUSNEW LISTING$729,000


  • 11 Properties Went Into Contract This Week vs 19 Last week

    175 total active listings are on the market as of the date of this post. 216 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 17.50 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 16 closings this week and we have 175 active listings.  So at the current rate of 16 closings per week, it would take 17.50 weeks (175/16) 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