hOMES: Your Weekly Insight into Hoboken Real Estate Trends | FEB. 19-25, 2016

Hoboken Real Estate Trends | February 19-25, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Only 24 new places hit the market this week. The chronic shortage of inventory is holding pricing steady with growing demand as we edge towards the Spring market.

Studio/ One-Bedrooms
New listings:
10 New listings,. The average price was $367,000 and the average price per sq ft was $607.
Sold Properties:
Two properties closed. The average price $579,000 and the average price per sq. ft was $619

2-Bedrooms
New listings:
11 New Listings. The average price was $718,000 and the average price per sq. ft was $698
Sold Properties:
Two properties closed. The average price was $790,000 and the average price per sq ft was $628

3-Bedrooms
New listings:
Only one new listing, priced at $818,888. The price per sq.ft is $557
Sold Properties:
1 property closed. The price was $1,720,000. Price per sq ft was $859.

Single Family Homes
No new activity this week.

(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

Rates have been stable this week, holding their ground at some of the lowest levels of 2016. The key to where rates go will be if the Equities markets continue to rally, as they have this week. This will most likely cause a sell-off in the bond market, and push mortgage rates higher.

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

ALSO OF INTEREST:
-Hoboken American Legion Working on New 5-Story Building to House Six Homeless Vets

-According the the National Association of Realtors, Existing Home Sales Increased, with Prices 11% Higher Than a Year Ago

-Redesigned Washington Street WILL Have New Bike Lanes… Sort of.

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence for 2015 and awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past four years running (2012-2015), which represents the premium level of achievement within the Century 21 organization.