hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | November 8, 2019

Hoboken & Jersey City Real Estate Trends | November 8, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

The time has come to sell your home and you want it to look its best and attract the most potential buyers—but what if you don’t have the financial ability to redo the kitchen and bathroom?

Here are a couple of relatively inexpensive ways to make your home more appealing:

1.  Paint—A fresh coat of paint will work wonders. Stick to neutral colors such as grey or beige and white trim.
2. Smart home technology—install a smart thermostat.  It is not expensive or difficult to install.
3. Upgrade your lighting fixtures—add new pendants in the kitchen and updated the vanity lights in the bathroom.
4. Recaulk the tub or shower.
5. Add some throws and new pillows to the living room and bedroom to brighten up the space.

As always, talk to a real estate professional who can help you make these easy changes and will also help you with appropriate pricing.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
6new listings. The average price is $555,150 and the average price per sq/ft is $775.
Sold Properties:
3 properties closed. The average price was $620,000 and the average price per sq/ft was $762.

2-Bedrooms
New Listings:
17 new listings. The average price is $790,523 the average price per sq/ft is $748.
Sold Properties:
9 properties closed. The average price was $681,222 and the average price per sq/ft was $695.

3-Bedrooms
New Listings:
1 new listing. The price is $849,000 and the price per sq/ft is $669.
Sold Properties:
5 sold properties. The average price was $985,380 and the average price per sq/ft was $602.

4+ Bedrooms
New Listings:
3 new listings. The average price is $1,549,666 and the average price per sq/ft is $766.
Sold Properties:
No properties closed.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
4 new listings. The average price is $578,250 and the average price per sq/ft is $933.
Sold Properties:
4 properties closed. The average price was $438,750 and the average price per sq/ft was $731.

2-Bedrooms
New Listings:
13 new listings. The average price is $982,811 and the average price per sq/ft is $539.
Sold Properties:
3 properties closed. The average price was $909,666 and the average price per sq/ft was $706.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,624,000 and the average price per sq/ft is $787.
Sold Properties:
No sold properties.

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

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
1 new listing. The price is $520,000 and the price per sq/ft is $742.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
8 new listings. The average price is $524,874 and the average price per sq/ft is $473.
Sold Properties:
2 sold properties. The average price was $395,000 and the average price per sq/ft was $439.

3-Bedrooms
New Listings:
9 new listings. The average price is $711,666 and the average price per sq/ft is $446.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One two-bedroom home listed for $499,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $287,499 and the average price per sq/ft is $482.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
6 new listings. The average price is $428,643 and the average price per sq/ft is $591.
Sold properties:
1 sold property. The price is $228,000 and the price per sq/ft is $364.

3-Bedrooms
New Listings:
1 new listing. The price is $499,000 and the price per sq/ft is $645.
Sold Properties:
No sold properties.

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

BERGEN-LAFAYETTE:
New Listings:
One four- bedroom home listed for $5699,000.
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 rates fell last week, but mortgage demand was unimpressed.  Total mortgage application volume was essentially unchanged, down 0.1% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 60% higher than the same week one year ago, when interest rates were significantly higher.  Homebuyers pulled back slightly, more because of a tight for-sale market and having less to do with interest rates. Mortgage applications to purchase a home fell 3% for the week but were 7% higher than a year ago.

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

ALSO OF INTEREST:

New Yorkers Cross the River for Smaller Spaces in Big Buildings (Wall Street Journal)

Parking Spot in Hong Kong Sells for Nearly $1 Million (South China Morning Post)

Closing the Door on Open Concept Design (realsimple.com)

*****************
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 2015-2018, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past seven years running (2012-2018), which represents the premium level of achievement within the Century 21 organization.