hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | December 15, 2017

Hoboken & Jersey City Real Estate Trends | December 15, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $480,333 and the average price per sq/ft is $766.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
10 new listings. The average price is $1,007,279 and the average price per sq/ft is $824.
Sold Properties:
6 properties closed. The average price was $857,333 and the average price per sq/ft was $665.

3-Bedrooms
New Listings:
1 new listing. The price is $1,949,995 and the price per sq/ft is $1,205.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
1 new listing. The price is $2,600,000 and the price per sq/ft is $1,012
Sold Properties:
1 sold listings. The price is $1,125,000 and the price per sq/ft is $610

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $666,464 and the average price per sq/ft is $915.
Sold Properties:
1 property closed. The price was $449,000 and the price per sq/ft was $701.

2-Bedrooms
New Listings:
7 new listings. The average price is $1,066,698 and the average price per sq/ft is $806.
Sold Properties:
2 properties closed. The average price was $910,000 and the average price per sq/ft was $700.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 property closed. The price was $995,000 and the price per sq/ft was $739.

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

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

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings.
Sold Properties:
2 sold properties. The average price was $564,000 and the average price per sq/ft was $507.

2-Bedrooms
New Listings:
1 new listing. The price is $498,000 and the price per sq/ft is $563.
Sold Properties:
No sold properties.

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

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

Single-Family Homes:
New Listings:
2 new listings. One three-bedroom home for $525,000 and a two bedroom home for $499,000.
Sold Properties:
No sold listings.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $244.780 and the price per sq/ft is $314.
Sold Properties:
1 sold property. The price was $160,000 and the price per sq/ft was $647.

2-Bedrooms
New Listings:
1 new listing. The price is $350,000 and the price per sq/ft is $453.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
1 new listing. The price is $285,000 and the price per sq/ft is $287.
Sold Properties:
1 sold property. The price is $185,000 and the price per sq/ft is $249.

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

BERGEN-LAFAYETTE:
New Listings:
1 new three-bedroom home listed for $350,000
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:

The Federal Reserve on Wednesday lifted a key U.S. interest rate and struck a wait-and-see stance that takes into account weak inflation and a change in leadership at the central bank. The central bank as expected on Wednesday raised its benchmark federal-funds rate by a quarter percentage point to between 1.25% and 1.5%—the fourth increase in a year.  Senior officials stuck to their earlier projections of three rate hikes in 2018. This has had no immediate impact on mortgage rates, because this rate increase was already priced into the mortgage. So, for now, status quo on the mortgage side. With anticipation of future rate hikes on the horizon for 2018, we’ll see how the mortgage market trends headed into 2018.

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

ALSO OF INTEREST:
What Does the GOP Tax Plan Mean for the Value of Your Home? (Forbes.com)

Housing Markets Worst Hit By Tax Plan (Slate.com)

Hoboken Offers Free Parking for Holiday Shoppers

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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.