hOMES: Weekly Insight Into Hoboken and Downtown Jersey City Real Estate Trends | APRIL 14, 2017

Hoboken Real Estate Trends | April 14, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

We have had a relatively slow week this week, with only 16 new listings in Hoboken and 8 new listings in Downtown Jersey City.

Now that the weather has warmed up I expect the Spring market to start in earnest after Spring Break—so if you are a seller, spend the next week putting the final staging touches to your home, while buyers should be sure to have your pre-approval in hand and all your financial ducks in a row. If you haven’t connected with a Realtor, now is a good time to do so.

Here’s a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
4 new listings. The average price is $687,249 and the average price per sq/ft is $777.
Sold Properties:
4 properties closed. The average price was $466,750 and the price per sq/ft was $712.

2-Bedrooms
New Listings:
9 new listings. The average price is $676,933 the average price per sq/ft is $685.
Sold Properties:
7 properties closed. The average price was $822,721 and the average price per sq/ft was $723.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,141,333 and the average price per sq/ft is $732.
Sold Properties:
3 properties closed. The average price was $1,276,333 and the price per sq/ft was $681.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
4 new listings. The average price is $700,474 and the average price per sq/ft is $920.
Sold Properties:
3 properties closed. The average price was $679,500 and the average price per sq/ft was $952.

2-Bedrooms
New Listings:
2 new listings. The average price is $1,399,500 the average price per sq/ft is $884.
Sold Properties:
4 properties closed. The average price was $747,275 and the average price per sq/ft was $705.

3-Bedrooms
New Listings:
2 new Listings. The average price is $1,549,500 the average price per sq/ft is $887.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
No new properties.
Sold Properties:
No closed properties this week.

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

As geo-political concerns have risen, we’ve seen Equity markets sell off as investors take flight to safety in the US Treasury markets. While the bond market has been rallying, we’ve seen mortgage-backed securities stabilize. We haven’t seen a sharp decline in mortgage rates yet, but there is downward pressure on rates at the current time. If the sell-off in the Equity markets continue over a sustained period, mortgage-backed securities will benefit and mortgage rates will inevitably drop.   Stay tuned.

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

ALSO OF INTEREST:
Home Office Blunders (Realtor.com)

Plan to Improve Southwest Traffic (City of Hoboken)

Soda Bread Contest at the Hoboken Irish Festival – May 13th

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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 for 2015 and 2016, 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.