hOMES: Weekly Insight Into Hoboken and Jersey City Real Estate Trends | August 4, 2017

Hoboken Real Estate Trends | August 4, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

This week saw a total of 56 new listings, which is a healthy number for the middle of summer. Traditionally we see a slow down during the summer months, but the numbers this week show that the sales market is still very active. The weather this weekend is looking a bit cloudy, so if you are not going to the beach it’s the perfect weekend to check out some of the great places available in the area.

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $604,426 and the average price per sq/ft is $759.
Sold Properties:
7 properties closed. The average price was $501,428 and the price per sq/ft was $760.

2-Bedrooms
New Listings:
17 new listings. The average price is $818,170 and the average price per sq/ft is $740.
Sold Properties:
12 properties closed. The average price was $867,458 and the average price per sq/ft was $703.

3-Bedrooms
New Listings:
3 new listings. The price is $1,086,833 and the price per sq/ft is $779.
Sold Properties:
3 sold listings. The average price was $989,999and the average price per sq/ft was $737.

4-Bedrooms
New Listings:
2 new listings. The average price is $2,674,000 and the price per sq/ft is $779.
Sold Properties:
1 sold listings. The price was $1,975,000 the price per sq/ft was $567.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $565,696 and the average price per sq/ft is $907.
Sold Properties:
6 properties closed. The average price was $573,333 the average price per sq/ft was $817.

2-Bedrooms
New Listings:
8 new listings. The average price is $725,862 and the average price per sq/ft is $861.
Sold Properties:
9 properties closed. The average price was $815,555 and the average price per sq/ft was $762.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
No sold listings.

Single-Family Homes
New Listings:
1 new three-bedroom listed for $1,050,000.
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings this week
Sold Properties:
1 sold property. The price was $252,500 and the price per sq/ft was $283.

2-Bedrooms
New Listings:
1 new listing. The price is $370,000 and the price per sq/ft is $377.
Sold Properties:
3 properties closed. The average price was $533,666 and the average price per sq/ft was $578.

3-Bedrooms
New Listings:
No new listings this week.
Sold Properties:
3 properties closed. The average price was $739,000 and the average price per sq/ft was $426.

Single Family Homes:
New Listings:
1 new two-bedroom home listed for $434,999
Sold Properties:
1 four-bedroom closed for $415,000

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $269,500 and the average price per sq/ft is $363.
Sold Properties:
4 properties sold. The average price is $261,245 and the average price per sq/ft is $387.

2-Bedrooms
New Listings:
3 new listings. The average price is $549,300 and the average price per sq/ft is $500.
Sold properties:
4 properties sold . The average price was $261,225 and the average price per sq/ft was $264.

3-Bedrooms
New Listings:
1 new listing. The price is $241,500 and the price per sq/ft is $263.
Sold Properties:
4 properties sold . The average price was $261,225 and the average price per sq/ft was $264.

Single Family Homes:
New Listings:
1 new four-bedroom for $599,000.
Sold Properties:
No sold properties this week.

BERGEN-LAFAYETTE:
New Listings:
2 new single-family homes listed. A three-bedroom for $340,000 and a four-bedroom for $349,999.
Sold Properties:
No sold listings 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:

Mortgage rates have remained stable, despite a record high in the Dow and a major pullback in oil prices.  Many analysts and prognosticators, including Alan Greenspan, have spoken about a bubble in the US bond market. Any movement in bonds will impact mortgage rates. So, any substantial increase in bond yields would adversely affect mortgages rates. Despite being in the heart of vacation season, there is still plenty of things going in the market to keep an eye on!

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

ALSO OF INTEREST:

Move to Montclair for $10… with a catch (NBCNewYork.com)

PATH Train’s “Time To Shine…” (NYTimes.com)

*****************
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.