hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | July 6, 2018

Hoboken & Jersey City Real Estate Trends | July 6, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

This week saw another 74 new listings across all our areas, signifying an active Summer market.

We will be on vacation next week, but will return the following week to do a recap of the 1^st six months of the year.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $507,355 and the average price per sq/ft is $654.
Sold Properties:
4 properties closed. The average price was $564,300 and the average price per sq/ft was $746.

2-Bedrooms
New Listings:
10 new listings. The average price is $899,899 and the average price per sq/ft is $794.
Sold Properties:
17 properties closed. The average price was $1,030,555 and the average price per sq/ft was $828.

3-Bedrooms
New Listings:
5 new listings. The average price is $1,606,599 and the average price per sq/ft is $924.
Sold Properties:
2 sold properties. The average price was $2,163,105 and the price per sq/ft was $819.

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
1 three-bedroom home closed for $1,560,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
13 new listings. The average price is $628,076 the average price per sq/ft is $843.
Sold Properties:
6 properties closed. The average price was $613,666 and the average price per sq/ft was $812.

2-Bedrooms
New Listings:
12 new listings. The average price is $888,240 and the average price per sq/ft is $870.
Sold Properties:
7 properties closed. The average price was $907,417 and the price per sq/ft was $711.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,087,250 and the price per sq/ft is $715.
Sold Properties:
4 properties closed. The average price was $1,063,750 and the average price per sq/ft was $719.

Single-Family Homes
New Listings:
One new five-bedroom homes listed for $1,499,000.
Sold Properties:
No sold properties.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $215,000 and the price per sq/ft is $430.
Sold Properties:
1 property closed. The price was $205,000 and the price per sq/ft was $410.

2-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 sold property. The price was $519,000 and the average price per sq/ft is $461.

3-Bedrooms
New Listings:
1 new listing. The price is $669,000 and the average price per sq/ft is $453.
Sold Properties:
No sold listings.

Single-Family Homes:
New Listings:
Three three-bedroom homes listed ranging from $449,000 to $875,000 and three four-bedroom homes listed ranging from $549,000 to $599,000.
Sold Properties:
One three-bedroom home sold for $550,000 and $three four-bedroom homes closed ranging from $475,000 to $675,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
4 new listings. The average price is $211,500 and the average price per sq/ft is $353.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
1 new listing. The price is $685,000 and the price per sq/ft is $538.
Sold Properties:
3 sold listings. The price was $355,666 and the price per sq/ft was $359.

3-Bedrooms
New Listings:
2 new listings. The average price is $429,000 and the price per sq/ft is $304.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
A three-bedroom listed for $550,000, and three four-bedroom homes listed ranging from $499,000 to $639,000
Sold Properties:
One three-bedroom sold for $299,000

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

(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:

Despite a leveling off of mortgage rates, and even drop in some instances, mortgage applications were still down for the week, and lower than a year ago at this time.

The shortage of homes for sale continues to be the most formidable roadblock to a full housing recovery. Supplies are not getting much better, and home price gains are accelerating as buyers compete for the very few good listings on the market.

This is something we’ve seen for an extended period of time in our local market.

The supply of homes for sale has been dropping on an annual basis for the past 36 months, according to the National Association of Realtors.

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

ALSO OF INTEREST:
Weehawken Waterfront Hotels Getting Liquor Licenses (JerseyDigs.com)

Jersey City Makes a Statement With Fireworks Over the Hudson (NYTimes.com)

Hoboken Reports Drop in Crime

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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.