hOMES: Weekly Insight Into Hoboken and Downtown Jersey City Real Estate Trends | JUNE 9, 2017

(ABOVE: Photo by Kurt Gardiner)

Hoboken Real Estate Trends | June 9, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Summer weather is finally here, but the normal “summer slowdown” has yet to arrive.

Both the Hoboken and Downtown Jersey City markets remain active, with 35 and 28 new listings respectively. The price per sq/ft has also remained consistent, with the Hoboken average around $700-$750 and Jersey City a little higher, ranging from $866 for a one bedroom to $711 for two bedrooms.

Here’s a closer look at this week’s numbers in our area:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
10 new listings. The average price is $580,100 and the average price per sq/ft is $751.
Sold Properties:
5 properties closed. The average price was $562,010 and the price per sq/ft was $712.

2-Bedrooms
New Listings:
15 new listings. The average price is $756,926 and the average price per sq/ft is $741.
Sold Properties:
11 properties closed. The average price was $768,454 and the average price per sq/ft was $702.

3-Bedrooms
New Listings:
8 new listings. The average price is $1,351,100 and the average price per sq/ft is $701.
Sold Properties:
3 sold listings. The average price was $1,328,333 the average price per sq/ft was $654.

Single-Family Homes
New Listings:
1 three-bedroom listed for $1,150,000.
Sold Listings:
No properties closed this week.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
13 new listings. The average price is $627,261 and the average price per sq/ft is $839.
Sold Properties:
3 properties closed. The average price was $533,333 the average price per sq/ft was $866.

2-Bedrooms
New Listings:
7 new listings. The average price is $794,571 and the average price per sq/ft is $711.
Sold Properties:
3 properties closed. The average price was $929,000 and the average price per sq/ft was $718.

3-Bedrooms
New Listings:
6 new listings. The average price is $1,525,500 and the average price per sq/ft is $963.
Sold Properties:
1 property closed. The price was $1,560,000 and the price per sq/ft was $1,012.

Single-Family Homes
New Listings:
1 three-bedroom home listed for $1,829,000 and 1 four-bedroom home listed for $1,549,999.
Sold Listings:
No sold properties.

(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 stocks have struggled at the beginning of this week, we’ve seen gold and bonds surge. This has led to further stabilization of mortgage rates, in anticipation of next week’s Fed meeting. Ultimately, when it comes to the mortgage industry, everyone is waiting to see what comes out of the Fed. Will they raise Prime? Hold steady? What guidance will they give on the future of rates? What immediate impact will they have on mortgage rates? We’ll know more next week! Until then, expect little action in the mortgage market, barring something unforeseen.

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

ALSO OF INTEREST:
Hoboken Arts & Music Fest Sunday—UPTOWN

The Original Living Social: Hoboken’s Social Club History (JerseyDigs.com)

City of Hoboken Seeks Summer Youth Employees For Green Workforce Program (HobokenNJ.gov)

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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.