hOMES: Your Weekly Insight into Hoboken Real Estate Trends | MAR. 18-MAR. 24, 2016

(ABOVE: Image by Ricardo Roig)

Hoboken Real Estate Trends | MARCH 18-24, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Twenty-eight new listings this week. The main news this week once again focused on the number of “best and finals,” with some properties receiving up to EIGHT offers—with some of these properties on the market for less than a week.

At a risk of sounding repetitive, buyers—if you are serious, make sure that you have all your ducks in a row and are ready to act quickly.

HOBOKEN MARKET:

Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price was $456,000 and the average price per sq/ft was $691.
Sold Properties:
3 properties closed. The average price was $564,000 and the average price per sq/ft was $751.

2-Bedrooms
New Listings:
14 new Listings. The average price was $779,000 and the average price per sq/ft was $705.
Sold Properties:
8 properties closed. The average price was $682,000 and the average price per sq/ft was $631.

3-Bedrooms
New Listings:
3 new listings. The average price was $1,400,000 and the average price per sq/ft was $734.
Sold Properties:
3 properties closed. The average price was $1,400,000 and the average price per sq/ft was $593.

Single-Family Homes
2 new house listings, one 4-bedroom listed for $999,000 and a larger 6-bedroom for $3,299,910.

(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
While not at their lowest levels of the year, mortgage rates are still at the lower end of the historical spectrum. For now, the focus for mortgage rates will be on such things as oil, overseas markets, domestic equities and politics.

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

ALSO OF INTEREST:

Flooded by questions, the City of Hoboken explains why we have so many water main breaks. (hMAG.com)

Hoboken advances to the Final Four in the “Strongest Town” competition. (Hoboken, Inc.)

Thinking of painting your apartment? Don’t be afraid to use bold colors (ApartmentTherapy.com)

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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.