hOMES: Weekly Insight Into Hoboken and Jersey City Real Estate Trends | September 8, 2017

Hoboken and Jersey City Real Estate Trends | September 8, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

The Fall Market got off and running this week, with 77 new homes on the market—the majority being condos in the Hoboken and Downtown area of Jersey City.

With interest rates potentially dropping slightly soon (see more in mortgage market in review) and with new listings hitting the market, right now is an excellent time to buy a home.

Let’s take a look at the numbers…

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
14 new listings. The average price is $546,049 and the average price per sq/ft is $733.
Sold Properties:
4 properties closed. The average price was $445,500 and the average price per sq/ft was $763.

2-Bedrooms
New Listings:
18 new listings. The average price is $855,633 and the average price per sq/ft is $727.
Sold Properties:
4 properties closed. The average price was $808,750 and the average price per sq/ft was $701.

3-Bedrooms
New Listings:
1 new listing. The price is $1,024,800 and the price per sq/ft is $679.
Sold Properties:
No sold listings.

Single-Family Homes
1 three-bedroom listed for $1,099,000 and 1 five-bedroom listed for $2,775,000.
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
10 new listings. The average price is $565,779 and the average price per sq/ft is $746.
Sold Properties:
7 properties closed. The average price was $617,114 the average price per sq/ft was $870.

2-Bedrooms
New Listings:
13 new listings. The average price is $818,299 and the average price per sq/ft is $781.
Sold Properties:
3 properties closed. The average price was $707,000 and the average price per sq/ft was $668.

3-Bedrooms
New Listings:
1 new listing. The price is $1,780,000 and the price per sq/ft is $919.
Sold Properties:
No sold listings.

Single-Family Homes
New Listings:
No new listings.
Sold Properties:
No sold lisitngs.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New Listings:
No new listings this week
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
2 new listings. The average price is $352,493 and the average price per sq/ft is $403.
Sold Properties:
1 property closed. The price was $230,000 and the price per sq/ft was $420.

3-Bedrooms
New Listings:
2 new listings. The average price is $487,000 and the average price per sq/ft is $472.
Sold Properties:
2 properties closed. The average price was $632,000 and the average price per sq/ft was $514.

Single-Family Homes:
New Listings:
No new listings.
Sold Properties:
No sold listings.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $278,980 and the average price per sq/ft is $411.
Sold Properties:
3 properties sold. The average price is $281,666 and the average price per sq/ft is $418.

2-Bedrooms
New Listings:
5 new listings. The price is $362,500 and the average price per sq/ft is $378.
Sold Properties:
1 property sold . The price was $530,000 and the average price per sq/ft was $419.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
No new listings.

Single-Family Homes:
New Listings:
No new listings.
Sold Properties:
No sold properties this week.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
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:

As the markets get back to normal volume post-Labor Day, we’ve seen an immediate sell-off in the Equity markets. This trend is positive news for mortgage rates, because investors will flock to “safer” investment mechanisms like bonds. While the recent movement has not been enough to make any substantial impact to rates thus far, investors and analysts alike will be watching closely. If the yield on the 10-Year Note falls below 2.00, we should see a drop to mortgage rates. Stay tuned.

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

ALSO OF INTEREST:
Hoboken Italian Festival: Sep. 7-10

Is Whole Foods Still Coming to Jersey City? (JerseyDigs.com)

How to Handle Rising Home Prices (Realtor.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.