hOMES: Your Weekly Insight Into Hoboken Real Estate Trends | DECEMBER 02-08, 2016

ABOVE: hMAG image, taken at Battaglia’s Home (1414 Willow Ave.)

Hoboken Real Estate Trends | December 02-08, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Another relatively slow week as we get closer to the holidays, which is to be expected. Nevertheless, the Hoboken real estate market continues to move, with eight new properties listed and a number of transactions closing—underscoring the notion that if you are ready to buy, now is a good a time as any…

HOBOKEN REAL ESTATE MARKET
8 New Listings

Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $469,450 and the average price per sq/ft is $626.
Sold Properties:
5 properties closed. The average price was $530,800 and the average price per sq/ft was $692.

2-Bedrooms
New Listings:
2 new Listings. The average price is $916,747 the average price per sq/ft is $740.
Sold Properties:
3 properties closed. The average price was $716,500 and the average price per sq/ft was $613.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,574,000 and the price per sq/ft was $707.
Sold Properties:
1 property closed. The price was $1,925,000and the price per sq/ft was $1005.

4-Bedrooms
New Listings:
1 new listing. The price is $1,799,000 and the price per sq/ft was $697.
Sold Properties:
No closed properties.

Single-Family Homes
New Listings:
One 4-bedroom single-family home listed for $1,588,000.
Sold Listings:
One 4-bedroom for $1,435,000 and one 5-bedroom for $3,200,000.

(Information provided by Hudson County MLS)

CLICK HERE to learn more about these and other properties…
CLICK HERE to find out how much your property is worth in today’s market…

Mortgage Market in Review:

After a swift and sharp increase in rates post-election, we have seen mortgage rates stabilize over the past week. It is now a waiting game for the Fed meeting this month.

Will the Fed increase overnight lending rates? If so, how much will they raise them? Will they hint towards future rate hikes in their comments?

All of this remains to be seen, but undoubtedly will have an impact on where mortgage rates go.

CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy…

ALSO OF INTEREST:

Which Type of Mortgage is Right For You? (Realtor.com)

Hoboken to Being Work on Washington Street (hMAG.com)

Mayor Signs Contract to Acquire Hoboken’s Largest Park Space (City of Hoboken)

*****************
Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence for 2015 and awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past four years running (2012-2015), which represents the premium level of achievement within the Century 21 organization.