hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | October 26, 2018

Hoboken & Jersey City Real Estate Trends | October 26, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Tis the season… would you be willing to live in a Haunted House?

Here are some homes in the area that “allegedly” come with some long term residents…

• The Dakota
• The “Watcher” in Westfield
• The “Voice” in Toms River

Or check out some Haunted places in Hoboken!

Happy Halloween!

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $517,816 and the average price per sq/ft is $690.
Sold Properties:
4 properties closed. The average price was $504,500 and the price per sq/ft was $729.

2-Bedrooms
New Listings:
30 new listings. The average price is $770,466 and the average price per sq/ft is $714.
Sold Properties:
6 properties closed. The average price was $662,333 and the average price per sq/ft was $717.

3-Bedrooms
New Listings:
7 new listings. The average price is $1,518,000 and the average price per sq/ft is $815.
Sold Properties:
1 property closed. The price was $920,000 and the price per sq/ft was $730.

4-Bedrooms
New Listings:
2 new listings. The average price is $2,188,500 and the average price per sq/ft is $798.
Sold Properties:
3 properties closed. The average price was $1,662,500 and the average price per sq/ft was $725.

Single-Family Homes
New Listings:
1 new four-bedroom home listed for $1,995,000 and one three-bedroom home listed for $2,200,000.
Sold Listings:
1 four-bedroom home sold for $1,300,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $462,000 and the average price per sq/ft is $706.
Sold Properties:
2 properties closed. The average price was $1,033,500 and the average price per sq/ft was $1,129.

2-Bedrooms
New Listings:
14 new listings. The average price is $884,000 and the average price per sq/ft is $799.
Sold Properties:
5 properties closed. The average price was $895,400 and the average price per sq/ft was $701.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,369,000 and the average price per sq/ft is $943.
Sold Properties:
1 sold listing. The price was $1,610,000 and the price per sq/ft was $814.

Single-Family Homes
New Listings:
One new three-bedroom home listed for $1,095,000.
Sold Listings:
One three-bedroom homesold for $1,250,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
1 new listings. The price is $294,000 and the price per sq/ft is $557.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
2 new listings. The average price is $461,500 and the average price per sq/ft is $460.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
Eleven new listings. The average price is $702,900 and the average price per sq/ft is $500.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
Two three-bedroom homes listed for $699,000, $799,000.
Sold Properties:
Two three-bedroom homes sold for $470,000 and $725,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $301,000 and the average price per sq/ft is $375.
Sold Properties:
4 sold properties. The average price was $339,037 and the average price per sq/ft was $415.

2-Bedrooms
New Listings:
4 new listings. The average price is $447,000 and the price per sq/ft is $381.
Sold properties:
1 sold listing. The price was $478,000 and the average price per sq/ft was $382.

3-Bedrooms
New Listings:
2 new listings. The price is $338,000 and the price per sq/ft is $282.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
Two new three-bedroom home listed for $499,000 and $539,000 and a five-bedroom home listed for $674,000
Sold Properties:
One three-bedroom sold for $475,000.

BERGEN-LAFAYETTE:
New Listings:
Two three-bedroom homes listed for $255,900 and $515,000.
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:

Many analysts are starting to predict that the Federal Reserve will pull back on interest rate hikes. While no one knows for sure, there are signs in the housing market and the stocks that track the industry. Homebuilder shares in the S&P 1500 recently sank 40 percent from their mid-January high. The most recent drop in the builders has come in tandem with the rise in the 10-year Treasury yield, the benchmark for 30 Year Fixed mortgage rates. The note moved from a low of 2.82 percent on Aug. 22 to eclipse the critical 3 percent level. Right now, there is no sign of the 10-year Treasury yield falling back below the 3 percent level. This has caused a rise in mortgage rates to near 5 percent, which some experts say could be a mental barrier for homebuyers.

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

ALSO OF INTEREST:

NYTimes: Jersey City Grows Up

Renovations Begin on Reservoir in JC Heights (JerseyDigs.com)

Hoboken Celebrates Mural Honoring Inspirational Women

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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.