hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | March 1, 2019

Hoboken & Jersey City Real Estate Trends | March 1, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

There were 70 new listings across our areas this week.  Expect those numbers to increase over the next few weeks as we enter March and the Spring market starts to gain more traction.

Here’s a look at what’s currently available in our areas:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $640,128 and the average price per sq/ft is $782.
Sold Properties:
1 sold property.  The price was $610,000 and the price per sq/ft was $829.

2-Bedrooms
New Listings:
14 new listings. The average price is $963,492 and the average price per sq/ft is $824.
Sold Properties:
5 properties closed. The average price was $781,800 and the average price per sq/ft was $622.

3-Bedrooms
New Listings:
8 new listings. The average price is $1,417,500 and the average price per sq/ft is $791.
Sold Properties:
3 sold properties.  The average price was $1,067,371 and the average price per sq/ft was $740.

4+-Bedrooms
New Listings:
5 new listings. The average price is $2,003,846 and the price per sq/ft is $786.
Sold Properties:
1 sold property. The price was $1,850,000 and the price per sq/ft was $851.

Single-Family Homes
New Listings:
One new four-bedroom home listed for $2,095,000.
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $611,987 and the average price per sq/ft is $867.
Sold Properties:
6 sold listings. The average price per sq/ft was $583,833 and the average price per sq/ft was $765.

2-Bedrooms
New Listings:
9 new listings. The average price is $797,666 and the average price per sq/ft is $738.
Sold Properties:
1 property closed. The price was $565,000 and the price per sq/ft was $575.

3-Bedrooms
New Listings:
1 new listing. The price is $1,049,000 and the price per sq/ft is $756.
Sold Properties:
2 sold properties. The average price was $1,005,000 and the average price per sq/ft was $609.

4-Bedrooms
New Listings:
1 new listing.  The price is $1,350,000 and the price per sq/ft is $678.
Sold Properties:
No sold properties.

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

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings..
Sold Properties:
1 sold property.  The price was $285,000 and the price per sq/ft was $530.

2-Bedrooms
New Listings:
1 new listing. The price is $344,444 and the price per sq/ft is $412.
Sold Properties:
2 sold properties. The average price was $420,750 and the average price per sq/ft was $325.

3-Bedrooms
New Listings:
4 new listings. The average price is $697,250 and the average price per sq/ft is $570.
Sold Properties:
2 sold properties. The price was $772,500 and the price per sq/ft was $581.

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

Single-Family Homes:
New Listings:
Two two-bedroom homes listed for $479,000 and $525,000 and two four-bedrooms listed for $419,000 and $849,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $349,000 and the average price per sq/ft is $432.
Sold Properties:
1 sold property.  The price was $599,000 and the price per sq/ft was $431.

2-Bedrooms
New Listings:
4 new listings. The price is $476,721 and the price per sq/ft is $458.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
1 new property. The price is $549,990 and the price per sq/ft is $474.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One new two-bedroom homes listed for $999,000.
Sold Properties:
One five-bedroom home sold for $475,000.

BERGEN-LAFAYETTE:
New Listings:
One new two-bedroom home listed for $280,000 and 2 six-bedroom homes listed for $349,000 and $350,000.
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:

Mortgage application volume increased 5.3 percent last week from the previous week and was 0.4 percent higher than a year ago, the Mortgage Bankers Association said in its seasonally adjusted index that accounted for the President’s Day holiday. Mortgage rates were largely unaffected by this past Tuesday’s testimony from Federal Reserve Chairman Jerome Powell before Congress. The increase in mortgage application volume shows that home buyers have been coming back into the market. This is largely due to mortgage rates hovering at their lowest levels in four months, as well an increase in inventory. However, home purchase demand is still running well below historical norms, as today’s buyers are facing the weakest affordability levels in a decade.

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

ALSO OF INTEREST:

Hoboken Introduces New Parking & Transportation Initiatives Designed to Benefit Local Business

Prepping Your Bathroom for Buyers (Realtor.com)

St. Francis Hoboken Wing & A Prayer Chicken Wing Competition—Saturday, March 23

*****************
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.