hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | April 13, 2018

Hoboken & Jersey City Real Estate Trends | April 13, 2018

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

It looks like Spring is finally here!!

As you box up your boots, take a look around at what else you can put away or perhaps give away. Even if you are not planning on moving, Spring is a great time to declutter and dejunk your home. If you didn’t wear it this year it’s highly unlikely you will wear it next year. There are some great local charities that will take your gently used items—the Hoboken Shelter and In Jesus Name in Hoboken, St. Lucy’s and the Salvation Army in Jersey City to name a few…

If you’re looking to revitalize your home and add a bit of color after this dreary winter, bright throws and throw pillows are an easy, cost-effective way to breathe new life into your living space. For the mere cost of one night out, you can revamp your living room with new curtains and a couple of well chosen items.

Then sit back, open up the windows and let the sun shine in.

Here’s a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $535,325 and the average price per sq/ft is $811.
Sold Properties:
3 properties closed. The average price was $490,666 and the price per sq/ft was $738.

2-Bedrooms
New Listings:
10 new Listings. The average price is $843,3000 and the average price per sq/ft is $725.
Sold Properties:
7 properties closed. The average price was $1,027,635 and the average price per sq/ft was $878.

3-Bedrooms
New Listings:
6 new listings. The average price is $1,122,500 and the price per sq/ft is $803.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
1 new listing. The price is $2,250,000 and the average price per sq/ft is $906.
Sold Properties:
1 property sold. The price was $1,925,000 and the price per sq/ft was $601.

Single-Family Homes
New Listings:
1 three-bedroom listed for $1,875,000 and 1 four-bedroom listed for $2,600,000
Sold Listings:
1 three-bedroom sold for $1,042,000.

DOWNTOWN JERSEY CITY:

Studio/ 1-Bedrooms
New Listings:
14 new listings. The average price is $734,492 and the average price per sq/ft is $893.
Sold Properties:
1 properties closed. The average price was $792,000 and the average price per sq/ft was $1,044.

2-Bedrooms
New Listings:
17 new listings. The average price is $898,435 and the average price per sq/ft is $762.
Sold Properties:
1 property closed. The price was $341,775 and the average price per sq/ft was $435. (this was a short sale.)

3-Bedrooms
New Listings:
4 new listings. The average price is $1,355,749 the average price per sq/ft is $718.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
No new properties.
Sold Properties:
No closed properties this week.

Single-Family Homes
New Listings:
Two new three-bedroom homes listed for $1,199,000 and $1,280,000.
Sold Listings:
No sold properties.

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

2-Bedrooms
New Listings:
5 new listings. The average price is $421,600 and the average price per sq/ft is $469.
Sold Properties:
4 sold listings. The average price was $357,750 and the average price per sq/ft was $437.

3-Bedrooms
New Listings:
5new listings. The average price is $565,760 and the average price per sq/ft is $459.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
Two three-bedroom homes listed for $539,000 and $419,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 sold listing. The price was $280,000 and the price per sq/ft was $764.

2-Bedrooms
New Listings:
4 new listings. The average price is $427,187and the average price per sq/ft is $371.
Sold properties:
2 sold listings. The average price was $384,250and the price per sq/ft was $341.

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

4-Bedrooms
New Listings:
1 new listing. The price is $475,000 and the price per sq/ft is $290.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One new two-bedroom homes listed for $729,000 a three-bedroom listed for $450,000 two four-bedroom homes listed for $460,000 and $629,000 and a five-bedroom home listed for $8789,000.
Sold Properties:
No sold properties.

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

(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:
Demand for mortgages weakened over the past week, despite stability in the mortgage rate market. Potential buyers, who are normally less sensitive to weekly rate moves, are either not finding what they are looking for, or, more likely, finding the prices to be higher than they are willing to pay. The drop in transactions is surprising, given that this is the heart of the spring housing season, and a stronger economy would suggest higher demand. However, buyers are turning away from what has become an extremely competitive and pricey housing market. When an early spring market is this lean and this expensive, some buyers choose to wait until later in the season, hoping to wait out the crowds and find a better deal.

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

ALSO OF INTEREST:

10 House Hunting Mistakes (realtor.com)

Hoboken’s 700 Jackson Street Wins Award for Resiliency Design (JerseyDigs.com)

Mile Square Theatre Presents “The Garden of Rikki Tiki Tavi”

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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 2015-2017, 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.