hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | April 12, 2019

Hoboken & Jersey City Real Estate Trends | April 12, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

As trees and flowers bloom, the perennially active Spring market is revealing itself as well—with 127 new properties on the market this week…

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $662,863 and the average price per sq/ft is $871.
Sold Properties:
5 properties closed. The average price was $558,600 and the price per sq/ft was $805.

2-Bedrooms
New Listings:
23 new listings. The average price is $810,643 and the average price per sq/ft is $728.
Sold Properties:
10 properties closed. The average price was $1,039,050 and the average price per sq/ft was $7762.

3-Bedrooms
New Listings:
7 new listings. The average price is $1,116,269 and the average price per sq/ft is $682.
Sold Properties:
3 sold properties. The average price is $1,620,000 and the average price per sq/ft is $813.

4-Bedrooms
New Listings:
3 new listings. The average price is $1,980,708 and the price per sq/ft is $798.
Sold Properties:
No properties closed.

Single-Family Homes
Two new five-bedroom homes listed for $1,095,000 and $2,900,000.
Sold Listings:
One five-bedroom home sold for $2,800,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
14 new listings. The average price is $521,000 and the average price per sq/ft is $745.
Sold Properties:
3 properties closed. The average price was $616,966 and the average price per sq/ft was $875.

2-Bedrooms
New Listings:
19 new listings. The average price is $981,908 and the average price per sq/ft is $818.
Sold Properties:
3 properties closed. The average price was $879,166 and the average price per sq/ft was $692.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,162,500 and the average price per sq/ft is $768.
Sold Properties:
1 property closed. The price was $1,672,500 and the price per sq/ft was $783.

Single-Family Homes
New Listings:
One new three-bedroom home listed for $1,379,000 and a four-bedroom listed for $1,563,000.
Sold Listings:
No sold properties.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
4 new listings. The average price is $518,975 and the price per sq/ft is $527.

Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
11 new listings. The average price is $763,818 and the average price per sq/ft is $622.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
5 new listings. The average price is $830,000 and the average price per sq/ft is $427.
Sold Properties:
4 sold properties. The average price was $599,500 and the average price per sq/ft was $419.

Single-Family Homes:
New Listings:
One three-bedroom home listed for $475,000 and one four-bedroom listed for $5999,000.
Sold Properties:
No sold listings.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $293,128 and the average price per sq/ft is $450.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
4 new listings. The average price is $474,249 and the price per sq/ft is $599.
Sold properties:
2 sold listings. The average price was $284,950 and the average price per sq/ft was $367.

3-Bedrooms
New Listings:
1 new listing. The price is $425,000 and the price per sq/ft is $276.
Sold Properties:
2 sold properties. The average price was $625,000 and the average price per sq/ft was $415.

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

BERGEN-LAFAYETTE:
New Listings:
One three- bedroom home listed for $479,000 a seven- bedroom home listed for $649,000.
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:

An uptick in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. Mortgage application volume fell 5.6% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were still 24% higher compared with the same week one year ago, thanks to the recent run-up in refinances. The quick turn is indicative of just how rate-sensitive today’s borrowers and buyers are. After falling for four straight weeks to the lowest level in over a year, we saw rates move up roughly .05%. The minutes from the most recent Fed meeting showed the Fed leaving the door open for a another hike or two of the Fed funds rate this year, should the economy continue to grow. So, we’ll see where rates go.

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

ALSO OF INTEREST:
Hoboken & SUEZ Announce New Water Main Contract

Hottest Real Estate Market is… OHIO?!?! (realtor.com)

You Can Stay at Lucille Ball’s Place (apartment therapy)

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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.