hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | April 20, 2018

Hoboken & Jersey City Real Estate Trends | April 20, 2018

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Here’s a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
14 new listings. The average price is $554,349 the average price per sq/ft is $765.
Sold Properties:
4 properties closed. The average price was $517,750 and the average price per sq/ft was $696.

2-Bedrooms
New Listings:
16 new listings. The average price is $868,406 and the average price per sq/ft is $746.
Sold Properties:
12 properties closed. The average price was $993,958 and the average price per sq/ft was $838.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,358,000 and the average price per sq/ft is $902.
Sold Properties:
1 property closed. The price was $3,550,000 and the price per sq/ft was $998.

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

Single-Family Homes
3 new single family homes listed. One two-bedroom home for $979,000 and two four-bedroom homes for $$1,900,000 and $3,500,000.
Sold Listings:
No sold listings

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $655,531 and the average price per sq/ft is $862.
Sold Properties:
3 properties closed. The average price was $620,666 and the average price per sq/ft was $858.

2-Bedrooms
New Listings:
18 new listings. The average price is $1,080,148 and the average price per sq/ft is $886.
Sold Properties:
2 properties closed. The average price was $1,167,500 and the average price per sq/ft was $885.

3-Bedrooms
New Listings:
6 new listings. The price is $1,337,666 and the price per sq/ft is $835.
Sold Properties:
1 property closed. The price was $1,,125,500 and the price per sq/ft was $790.

Single-Family Homes
New Listings:
Three new three-bedroom home listed for $1,099,000, $1,275,000 and $1,449,000.
Sold Listings:
A two-bedroom sold for $845,000 and a five-bedroom home sold for $2,410,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
2 new listings. The average price is $276,950 and the average price per sq/ft is $362.
Sold Properties:
2 sold listings. The average price was $246,250 and the average price per sq/ft was $367.

2-Bedrooms
New Listings:
1 new listings. The average price is $324,900 and the average price per sq/ft is $346.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
2 new listings. The average price is $662,000 and the average price per sq/ft is $392.
Sold Properties:
1 sold property. The price was $559,000 and the price per sq/ft was $254.

Single-Family Homes:
New Listings:
One two-bedroom home listed for $700,000 and one three-bedroom listed for $474,999.
Sold Properties:
Two two-bedroom homes sold for $455,000 and $525,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The price is $200,633 and the average price per sq/ft is $386.
Sold Properties:
1 sold listing. The price was $279,000 and the price per sq/ft was $345.

2-Bedrooms
New Listings:
3 new listings. The average price is $401,600 and the average price per sq/ft is $408.
Sold properties:
1 sold listing. The price was $120,000 and the price per sq/ft was $83.

3-Bedrooms
New Listings:
3 new listings. The average price is $477,266 and the average price per sq/ft is $344.
Sold Properties:
1 sold property. The price was $355,000 and the price per sq/ft was $394.

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

BERGEN-LAFAYETTE:
New Listings:
One three-bedroom home listed for $599,900.
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:

Long-term U.S. mortgage rates rose over the past week, slightly worsening affordability for homebuyers. With the start of the traditional spring home-buying season, people shopping for homes are dealing with higher loan costs and fewer properties for sale. Rising rates could further erode inventories as existing homeowners renovate homes rather than putting them up for sale to avoid a more expensive mortgage that would come with a new house

If higher rates lead to fewer homes on the market, it could push prices higher and further squeeze would-be homebuyers. Home borrowing costs have risen in response to higher yields on 10-year U.S. Treasury notes. The interest charged on this form of government debt has risen from 2.78 percent last week to 2.9 percent early Thursday.

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

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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.