hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | December 14, 2018

Hoboken & Jersey City Real Estate Trends | December 14, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Fewer new listings this week as the holidays approach. Expect that to change after the New Year, and steadily increase as we move into the Spring market.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $472,666 and the average price per sq/ft is $912.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
13 new listings. The average price is $726,069 and the average price per sq/ft is $676.
Sold Properties:
8 properties closed. The average price was $889,500 and the average price per sq/ft was $750.

3-Bedrooms
New Listings:
1 new listing. The average price is $1,780,000 and the average price per sq/ft is $685.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
2 new listings. The average price is $2,055,400 and the average price per sq/ft is $667.
Sold Properties:
No sold properties.

Single-Family Homes
No new listings.
Sold Listings:
1 three-bedroom home sold for $1,528,000.  A four-bedroom sold for $2,537,500 and a five-bedroom sold for $1,675,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $617,500 and the average price per sq/ft is $648.
Sold Properties:
5 properties closed. The average price was $583,100 and the average price per sq/ft was $776.

2-Bedrooms
New Listings:
8 new listings. The average price is $813,956 and the average price per sq/ft is $776.
Sold Properties:
3 properties closed. The average price was $805,000 and the average price per sq/ft was $790.

3-Bedrooms
New Listings:
1 new listing. The price is $745,000 and the price per sq/ft is $662.
Sold Properties:
1 sold listing. The price was $830,000 and the price per sq/ft was $539.

4-Bedrooms
New Listings:
2 new listings. The average price is $1,699,444 and the average price per sq/ft is $687.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
One three-bedroom home sold for $399,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings. .
Sold Properties:
1 sold property.  The price was $300,000 and the price per sq/ft was $319.

2-Bedrooms
New Listings:
1 new listing. The average price is $649,000 and the average price per sq/ft is $457.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
10 new listings. The average price is $696,890 and the average price per sq/ft is $457.
Sold Properties:
2 sold properties The average price was $420,000 and the price per sq/ft was $410.

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

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings.  The average price is $225,000 and the average price per sq/ft is $540.
Sold Properties:
2 sold properties. The average price was $392,000 and the average price per sq/ft was $405.

2-Bedrooms
New Listings:
No new listings.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
1 new listing. The price is $649,000 and the price per sq/ft is $349.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
No new listings.
Sold Properties:
Two three-bedroom homes sold for $510,000 and $645,000 and a our-bedroom homes sold for $785,000.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
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:

Mortgage rates have dropped to their lowest level since September, due to the substantial sell off in the Equity markets over the past two weeks. Most analysts predict we’ll see rates move sideways until the Fed Reserve announces its next rate move on Wednesday, 12/19. Traditionally, December is a slow month for both purchase and refinance transactions. But, a rate drop or even rate stability may spur some people to act more quickly then they normally would. Having said this, mortgage rates are approximately 1% than where they were one year ago. This has impacted buyers’ affordability, and is no doubt a key component into why we’ve seen less volume in the housing market.

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

ALSO OF INTEREST:

Help Hudson County Homeless Shelters (JerseyDigs)

Apartment Therapy Comes to Hoboken

Anticipated New York Metro Housing Prices Dip Has Arrived (Bloomberg)

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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.