hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | August 10, 2018

Hoboken & Jersey City Real Estate Trends | August 10, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

As we enter the “dog days” of summer, the market in our areas continues to thrive—with 67 new listings this week. This is quite a lot for this time of the year, which is hopefully an indication that there will be more inventory as went enter our busier Fall season.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $576,000 and the average price per sq/ft is $761.
Sold Properties:
7 properties closed. The average price was $535,857 and the average price per sq/ft was $758.

2-Bedrooms
New Listings:
17 new listings. The average price is $942,117 and the average price per sq/ft is $817.
Sold Properties:
3 properties closed. The average price was $1,265,000 and the average price per sq/ft was $1048.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,225,000 and the average price per sq/ft is $725.
Sold Properties:
3 sold properties. The average price was $1,243,330 and the price per sq/ft was $700.

4/5-Bedrooms
New Listings:
3 new listings. The average price is $1,964,666 and the average price per sq/ft is $769.
Sold Properties:
No sold listings.

Single-Family Homes
Two new three-bedrooms listed for $1,188,888 and $1,950,000 and a four-bedroom listed for $1,350,000.
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $629,211 the average price per sq/ft is $761.
Sold Properties:
4 properties closed. The average price was $615,000 and the average price per sq/ft was $803.

2-Bedrooms
New Listings:
10 new listings. The average price is $887,388 and the average price per sq/ft is $747.
Sold Properties:
2 properties closed. The average price was $797,500 and the price per sq/ft was $673.

3-Bedrooms
New Listings:
1 new listing. The average price is $729,000 and the price per sq/ft is $575.
Sold Properties:
No sold properties.

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

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $469,000 and the price per sq/ft is $498.
Sold Properties:
1 property closed. The price was $280,000 and the price pre sq/ft was $567.

2-Bedrooms
New Listings:
2 new listings. The average price is $375,000 and the average price per sq/ft is $495.
Sold Properties:
2 sold properties. The average price was $375,000 and the average price per sq/ft is $329.

3-Bedrooms
New Listings:
2 new listings. The average price is $768,000 and the average price per sq/ft is $504.
Sold Properties:
No sold listings.

Single-Family Homes:
New Listings:
Two three-bedroom homes listed for $399,000 and $445,000.
Sold Properties:
One four-bedroom home sold for $490,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $356,666 and the average price per sq/ft is $444.
Sold Properties:
1 sold listings. The price was $310,000 and the price per sq/ft was $491.

2-Bedrooms
New Listings:
3 new listings. The average price is $408,299 and the average price per sq/ft is $325.
Sold Properties:
1 sold listing. The price was $540,000 and the price per sq/ft was $687.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 sold property. The price was $535,000 and the price per sq/ft was $353.

Single-Family Homes:
New Listings:
A three-bedroom listed for $5399,000.
Sold Properties:
No sold listings.

BERGEN-LAFAYETTE:
New Listings:
One new three-bedroom listed for $475,000.
Sold Properties:
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:

Higher home prices have been hitting the mortgage industry hard.

In June, home prices (on a national level) rose 6.8 percent from a year ago, according to a report from CoreLogic. Total mortgage application volume fell 3 percent from the previous week, and 17 percent from a year ago, according to the Mortgage Bankers Association’s seasonally adjusted report.

The market has been especially tough on new homebuyers, with data showing a downward trend in purchase volume. Applications to purchase a home fell 2 percent for the week, and were also down 2 percent from a year ago.

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

ALSO OF INTEREST:
Parking Changes Coming to JC Heights (JerseyDigs.com)

HGTV Buys The Brady Bunch House (Realtor.com)

Hoboken Pride Week

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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 2015-2017, 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.