hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | February 15, 2019

A total of 80 properties hit the market across our various areas.  So it’s safe to say that our Spring market is looking to be very active.  Although more properties will come on the market over the next few weeks and months if you are ready to start looking at a new home to purchase now is the time to do so.  Take advantage of the low rates and great properties out there.

Here’s a look at what’s currently available in our areas:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $615,089 and the average price per sq/ft is $813.
Sold Properties:
5 properties closed.  The average price was $603,333 and the average price per sq/ft was $637.

2-Bedrooms
New Listings:
14 new listings. The average price is $741,698 and the average price per sq/ft is $704.
Sold Properties:
1 property closed. The  price was $889,000 and the price per sq/ft was $752.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,581,333 and the average price per sq/ft is $803.
Sold Properties:
1 property closed. The price was $865,000 and the price per sq/ft was $558.

4-Bedrooms
New Listings:
1 new listings. The price is $1,738,000 and the price per sq/ft is $800.
Sold Properties:
No sold properties.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
10 new listings. The average price is $591,799 and the average price per sq/ft is $763.
Sold Properties:
5 sold listings. The average price per sq/ft was $577,519 and the average price per sq/ft was $822.

2-Bedrooms
New Listings:
6 new listings. The average price is $939,665 and the average price per sq/ft is $813.
Sold Properties:
1 property closed. The price was $990,000 and the price per sq/ft was $810.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,059,381 and the average price per sq/ft is $786.
Sold Properties:
1 sold property. The price was $835,000 and the price per sq/ft was $606.

4-Bedrooms
New Listings:
1 new listing. The  price is $1,975,000 and the price per sq/ft is $369.
Sold Properties:
No sold properties.

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

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
5 new listings. The average price is $296,796 and the average price per sq/ft is $440.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
4 new listings. The average price is $405,361 and the average price per sq/ft is $487.
Sold Properties:
1 sold property.  The price was $549,000 and the price per sq/ft was $422.

3-Bedrooms
New Listings:
7 new listings. The average price is $612,700 and the average price per sq/ft is $512.
Sold Properties:
1 sold property.  The price was $648,000 and the price per sq/ft was $381.

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

Single-Family Homes:
New Listings:
Two three-bedroom homes listed for $299,000 and $429,000 and one two-bedroom listed for $349,000.
Sold Properties:
One four-bedroom home sold for $448,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $309,000 and the average price per sq/ft is $438.
Sold Properties:
One sold property. The price was $165,000 and the price per sq/ft was $323.

2-Bedrooms
New Listings:
4 new listings. The average price is $548,750 and the average price per sq/ft is $459.
Sold properties:
1 sold property.  The price was $225,000 and the price per sq/ft was $331.

3-Bedrooms
New Listings:
One new property. The price is $309,000 and the price per sq/ft is $373.
Sold Properties:
1 sold property.  The price was $208,000 and the price per sq/ft was $224.

Single-Family Homes:
New Listings:
One new three-bedroom home listed for $399,000.
Sold Properties:
One three-bedroom home sold for $582,000.

BERGEN-LAFAYETTE:
New Listings:
Two six-bedroom homes listed for $349,000 and $350,000.
Sold Properties:
One three-bedroom sold for $113,000.

(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:

Total mortgage application volume fell 3.7 percent last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 11 percent lower than this time one year ago, even though mortgage rates were only a touch higher.  The drop in application is primarily due to purchase volume.  The majority of realtors have been reporting more traffic at open houses, as we’ve seen more listings come on the market, but apparently that interest is not turning into demand for home loans as of yet. Home prices are still high, and the supply of lower-end homes is still very lean.

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

ALSO OF INTEREST:
Guide for First-Time Buyers (realtor.com)

Decluttering: Identifying Clutter Problems (Apartment Therapy)

St. Francis Hoboken Wing & A Prayer Chicken Wing Competition—Saturday, March 23

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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.