hOMES: Weekly Insight Into Hoboken and Downtown Jersey City Real Estate Trends | JULY 14, 2017

Hoboken Real Estate Trends | July 14, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Summertime is here, which makes most of us dream about sand between our toes and the gentle ocean breeze…

As we all know, waterfront property in this area is at a premium, so this week we thought we would take a look at some beachfront properties on the Jersey Shore:

First stop is 112 Meadow Point Road in Point Pleasant — 5BR/2BA… and it’s very own Tiki Bar…

Next up, a condo on the beach at 1501 Ocean Ave in Asbury Park—2BR/2BA and upfront ocean views…

Then there’s this 4BR/4.5BA home at 431 Beach Front in Manasquan…

Ok, enough daydreaming… here’s a look at this week’s numbers for Hoboken and Downtown Jersey City:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $632,800 and the average price per sq/ft is $797.
Sold Properties:
4 properties closed. The average price was $490,890 and the price per sq/ft was $746.

2-Bedrooms
New Listings:
20 new listings. The average price is $798,935 and the average price per sq/ft is $710.
Sold Properties:
7 properties closed. The average price was $885,416 and the average price per sq/ft was $664.

3-Bedrooms
New Listings:
1 new listing. The price is $859,000 and the price per sq/ft is $795.
Sold Properties:
3 sold listings. The average price was $1,850,000 and the average price per sq/ft was $878.

Single-Family Homes
New Listings:
2 three-bedrooms homes listed for $2,200,000 and $3,299,000
Sold Listings:
One three-bedroom for $1,465,000 and a four-bedroom for $2,999,000

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $519,209 and the average price per sq/ft is $719.
Sold Properties:
3 properties closed. The average price was $663,000 the average price per sq/ft was $808.

2-Bedrooms
New Listings:
11 new listings. The average price is $614,181 and the average price per sq/ft is $591.
Sold Properties:
5 properties closed. The average price was $816,520 and the average price per sq/ft was $737.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,024,500 and the average price per sq/ft is $843.
Sold Properties:
2 properties closed. The average price was $1,282,500 and the price per sq/ft was $767.

Single-Family Homes
New Listings:
2 new listings. 1 three-bedroom home for $1,129,000 and 1 four-bedroom home for $1,6,50,000.
Sold Listings:
No sold listings this week.

(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 some upward pressure over the past couple of weeks, mortgage rates have been steady thus far this week. The political climate has been the driving force behind the movement of the Equity and Bond markets. And, most analysts predict that this will be the norm for the foreseeable future. This can and most likely will cause volatility in the markets down the road. So, only time will tell how bad that volatility will be and where that drives the markets.

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

ALSO OF INTEREST:
POST-CLOSING COSTS: How much will you spend AFTER you move in? (realtor.com)

Hoboken & SUEZ to Renegotiate Water Contract

Liberty State Park: New Jersey’s Gift to America (JerseyDigs.com)

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken and Jersey City 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 2016, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past five years running (2012-2016), which represents the premium level of achievement within the Century 21 organization.