hOMES: Weekly Insight Into Hoboken and Jersey City Real Estate Trends | JULY 28, 2017

Hoboken Real Estate Trends | July 28, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

A few weeks ago we took a look at other thriving markets in the area, namely Journal Square, Jersey City Heights and Bergen Lafayette, which generated a lot of interest from readers.
As a realtor, I have found myself spending more and more time in these areas with interested clients. Price increases in Hoboken and Downtown Jersey City have inspired buyers to look slightly further afield, as these areas typically offer more space for your money.
With that in mind, we have decided to include these areas to our weekly update.
This week we will take a quick of what’s available in these areas, and moving forward we will simply add to our update…

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
There are 6 one-bedroom condos available with an average price of $266,483 and a price per sq/ft of $379.
2-Bedrooms
There are 10 two-bedroom condos available with an average price of $369,500 and a price per sq/ft of $357.
3-Bedrooms
There are currently 12 three-bedroom condos available with an average price of $634,649 and a price per sq/ft of $443.
Single Family Homes:
There are 17 single-family homes with an average price of $524,870.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
There are29 one-bedroom condos available with an average price of $302,054 and a price per sq/ft of $384.
2-Bedrooms
There are 23 two-bedroom condos available with an average price of $389,421 and a price per sq/ft of $358.
3-Bedrooms
There are currently 7 three-bedroom condos available with an average price of $446,400 and a price per sq/ft of $355.
Single Family Homes:
There are 9 single-family homes with an average price of $681,355.

BERGEN-LAFAYETTE:
This section of Jersey City is predominantly single- and multi-family homes. There are currently 11 single-family homes ranging in price from $280,345 – $499,000

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $488,985 and the average price per sq/ft is $707.
Sold Properties:
6 properties closed. The average price was $606,050 and the price per sq/ft was $750.

2-Bedrooms
New Listings:
6 new listings. The average price is $881,166 and the average price per sq/ft is $763.
Sold Properties:
12 properties closed. The average price was $773,666 and the average price per sq/ft was $739.

3-Bedrooms
New Listings:
1 new listings. The price is $1,449,000 and the price per sq/ft is $989.
Sold Properties:
3 sold listings. The average price was $1,730,000 and the average price per sq/ft was $1,044.

Single-Family Homes
New Listings:
One new four-bedroom home listed for $1,895,000.
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $615,399 and the average price per sq/ft is $802.
Sold Properties:
6 properties closed. The average price was $475,166 the average price per sq/ft was $719.

2-Bedrooms
New Listings:
5 new listings. The average price is $1,227,319 and the average price per sq/ft is $907.
Sold Properties:
2 properties closed. The average price was $1,076,000 and the average price per sq/ft was 977.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,239,999 and the average price per sq/ft is $774.
Sold Properties:
No sold listings.

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

(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 the Equity markets rally this week, we’ve seen upward pressure on rates. The 10-Year Bond is at its highest price of the last two weeks. This sell-off has caused fixed rate mortgages to tick up slightly. Whether or not this will continue will depend on the continued strength of the Equity markets, as well as the happenings that come out of the current political climate. Analysts are worried about the impact a potential repeal of the Affordable Healthcare Act will have on the markets. The uncertainty in the political world is always a concern, because you can’t be sure how the markets react to something unexpected.

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

ALSO OF INTEREST:
Is 2017 the ‘Year of the Renter’ in Jersey City? (JerseyDigs.com)

Hoboken’s Northwest Pop-Up Park Set to Open

Frommer’s Comes to Hoboken (Frommers.com)

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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.