hOMES: Weekly Insight Into Hoboken and Downtown Jersey City Real Estate Trends | MAY 11, 2017

Hoboken Real Estate Trends | May 11, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Over 90% of buyers start their home search online.  There are various different sites to choose from, but are they all the same?

Next week we will take a more in-depth look at the the various search engines, and we will take a closer look at the infamous “Zestimates.”

Meanwhile, 23 new listings hit the market in Hoboken and 20 places in Downtown Jersey City.

Here’s a closer look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $502,737 and the average price per sq/ft is $710.
Sold Properties:
1 property closed. The price was $650,000 and the price per sq/ft was $801.

2-Bedrooms
New Listings:
12 new listings. The average price is $822,150 the average price per sq/ft is $657.
Sold Properties:
5 properties closed. The average price was $1,133,400 and the average price per sq/ft was $872.

3-Bedrooms
New Listings:
1 new listing. The price is $900,000 and the price per sq/ft is $549.
Sold Properties:
1 sold listing. The price was $1,082,000 the price per sq/ft was $625.

Single-Family Homes
New Listings:
2 new single-family homes. A three-bedroom for $1,399,000 and a four-bedroom for $3,000,000
Sold Listings:
No properties closed this week.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $598,642 the average price per sq/ft is $853.
Sold Properties:
6 properties closed. The price was $691,500 and the price per sq/ft was $869

2-Bedrooms
New Listings:
8 new listings. The average price is $741,875and the average price per sq/ft is $757.
Sold Properties:
2 properties closed. The average price was $769,500 and the average price per sq/ft was $698.

3-Bedrooms
New Listings:
5 new listings. The average price is $741,875 and the average price per sq/ft is $815.
Sold Properties:
No sold properties this week.

Single-Family Homes
New Listings:
No new listings.
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:
The volatility of the market has continued over the past week. While Equity markets have pushed slightly higher, we have seen a sell-off in the bond markets. This has caused a slight up-tick in mortgage rates, pushing the average 30-Year Fixed back over 4.00%.   Geopolitics are still dominating the market action. Whether it is the French election, or the firing of FBI Director Comey, the markets are constantly watching everything going on outside of the business world. We’ll see if this trend continues throughout May, while analysts and traders wait the June Fed meeting.

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

ALSO OF INTEREST:
BROOKLYN v. ‘BOKEN: Comparing Values (JerseyDigs.com)

How to Get a Mortgage with Student Loan Debt (realtor.com)

Block Party in Support of the Hoboken American Legion Post 107 — Saturday

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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.