hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | March 22, 2019

Hoboken & Jersey City Real Estate Trends | March 22, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

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

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $505,075 and the average price per sq/ft is $711.
Sold Properties:
1 sold property.  The price was $375,000 and the price per sq/ft was $637.

2-Bedrooms
New Listings:
14 new listings. The average price is $775,278 and the average price per sq/ft is $778.
Sold Properties:
7 properties closed. The average price was $939,285 and the average price per sq/ft was $797.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,303,00 and the average price per sq/ft is $688.
Sold Properties:
1 sold property.  The price was $1,450,115 and the price per sq/ft was $927 .

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

Single-Family Homes
New Listings:
Three three-bedroom homes listed for $750,000,$$1,950,000 and $2,100,000 and a four bedroom home listed for $2,550,000.
Sold Listings:
One three-bedroom home sold for $1,715,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $630,482 and the average price per sq/ft is $846.
Sold Properties:
9 sold listings. The average price was $529,833 and the average price per sq/ft was $761.

2-Bedrooms
New Listings:
6 new listings. The average price is $764,000 and the average price per sq/ft is $674.
Sold Properties:
2 sold listings. The average price was $794,500 and the average price per sq/ft was $773.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,247,500 and the average price per sq/ft is $751.
Sold Properties:
1 sold property. The price was $999,000 and the price per sq/ft was $721.

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

Single-Family Homes
New Listings:
3 three-bedroom homes listed for $979,000, $$1,135,000 and $1,558,000.  A four-bedroom home listed for $1,649,000.
Sold Listings:
One four-bedroom home sold for $950,000.

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

2-Bedrooms
New Listings:
No new listings.
Sold Properties:
2 sold properties. The average price was $462,500 and the average price per sq/ft was $448.

3-Bedrooms
New Listings:
2 new listings. The average price is $714,900 and the average price per sq/ft is $519.
Sold Properties:
1 sold property. The price was $530,000 and the price per sq/ft was $385.

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

Single-Family Homes:
New Listings:
One three-bedroom home listed for $699,000 and a five-bedroom home listed for $429,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $415,000 and the average price per sq/ft is $520.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
1 new listing. The price is $465,000 and the price per sq/ft is $407.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
1 new listing. The  price is $499,000 and the price per sq/ft is $355.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One new two-bedroom home listed for $475,000
Sold Properties:
No sold properties.

BERGEN-LAFAYETTE:
New Listings:
One new five-bedroom home listed for $199,900.
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:

The yield on the benchmark 10-year Treasury note dove to its lowest level since January 2018 after the Federal Reserve said that it’s no longer likely that it will hike rates again this year.  The yield on the benchmark 10-year Treasury note sank 8 basis points to 2.528 percent. Yields rise as bond prices fall.  This is a good sign for fixed mortgage rates, as they closely follow the 10 year note.   Currently, fixed mortgage rates are at their lowest point of the last 12 months. 

The Fed on Wednesday downgraded its economic forecast and said it plans to end its program of reducing the bonds it holds on its balance sheet in six months, a process closely followed by fixed-income traders around the globe.  This should keep mortgage rates down for an extended period of time.

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

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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.