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

Hoboken Real Estate Trends | August 19-25, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

HOBOKEN MARKET

Although we are entering our slowest 2 weeks of the year so far, there were still 16 new listings this week. Even with fewer new listings—a trend that will likely continue until after Labor Day—there is still activity in the market and a lot of great properties out there.

Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $673,000 and the average price per sq/ft is $963.
Sold Properties:
5 properties closed. The average price was $516,400 and the average price per sq/ft was $745.

2-Bedrooms
New Listings:
9 new Listings. The average price is $785,078 and the average price per sq/ft is $668.
Sold Properties:
7 properties closed. The average price was $901,928 and the average price per sq/ft was $702.

3-Bedrooms
New Listings:
4 new listings. The average price was $1,450,473 and the price per sq/ft was $798.
Sold Properties:
1 property closed. The price was $799,000 and the price per sq/ft was $629.

Single-Family Homes
New Listings:
No new single-family listings this week.
Sold Listings:
1 new single-family home sold, a 4-bedroom home for $2,608,000

(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
As we’ve seen domestic equity markets perform well over the last couple of weeks, we have also seen the bond market trade in a very narrow range.  The result of this is mortgage rates staying down and being incredibly stable.   No one knows how long this will sustain itself, but with volume most likely thinning out over the 2^nd half of August, it is unlikely we’ll see too much of a change in rates.

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

ALSO OF INTEREST:
Development on Hoboken’s Jefferson Street Breaks Out (JerseyDigs.com)

How to Paint Kitchen Cabinets (Realtor.com)

EXTRA, EXTRA!!! Hudson Reporter Building to be Converted to Retail Space (hMAG.com)

*****************
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.