hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | January 12, 2018

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Hoboken & Jersey City Real Estate Trends | January 12, 2018

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

It was pretty chilly last week, but the real estate market is always fairly warm here in Hudson County.

Here’s a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $549,394 the average price per sq/ft is $778.
Sold Properties:
2 properties closed. The average price was $486,500 and the average price per sq/ft was $689.

2-Bedrooms
New Listings:
15 new listings. The average price is $995,320 and the average price per sq/ft is $850.
Sold Properties:
4 properties closed. The average price was $841,375 and the average price per sq/ft was $669.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,631,250 and the average price per sq/ft is $891.
Sold Properties:
1 property closed. The price was $845,000 and the price per sq/ft was $674.

4-Bedrooms
New Listings:
2 new listings. The average price is $1,924,000 and the average price per sq/ft is $762.
Sold Properties:
1 property closed. The price was $1,710,000 and the price per sq/ft was $826.

Single-Family Homes
2 new single family homes listed. One four-bedroom home for $1,500,000 and one three-bedroom for $1,775,000.

Sold Listings:
One three-bedroom closed for $711,240 and two five-bedrooms closed for $1,849,000 and $2,995,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $612,544 and the average price per sq/ft is $801.
Sold Properties:
3 properties closed. The average price was $543,666 the average price per sq/ft was $664.

2-Bedrooms
New Listings:
6 new listings. The average price is $827,000 and the average price per sq/ft is $785.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
1 new listing. The price is $1,500,000 and the price per sq/ft is $1.056.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 property closed. The price was $1,300,000 and the price per sq/ft was $537.

Single-Family Homes
New Listings:
One new three bedroom home listed for $1,399,999.
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
2 new listings. The average price is $239,000 and the average price per sq/ft is $455.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
6 new listings. The average price is $416,333 and the average price per sq/ft is $505.
Sold Properties:
2 sold listings. The average price is $431,500 and the average price per sq/ft is $452.

3-Bedrooms
New Listings:
1 new listings. The price is $229,000 and the price per sq/ft is $231.
Sold Properties:
3 sold properties. The average price is $568,000 and the average price per sq/ft was $397.

Single-Family Homes:
New Listings:
One three-bedroom home listed for $399,000.
Sold Properties:
One two-bedroom closed for $532,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
4 new listings. The average price is $294,750 and the price per sq/ft is $442.
Sold Properties:
1 property sold. The price was $490,000 and the price per sq/ft is $465.

2-Bedrooms
New Listings:
4 new listings. The average price is $388,249 and the average price per sq/ft is $370.
Sold properties:
No sold listings.

3-Bedrooms
New Listings:
1 new listings. The price is $599,000 and the price per sq/ft is $327.
Sold Properties:
No sold listings.

Single-Family Homes:
New Listings:
3 new listings. A 4 four-bedroom home for $349,000 one five-bedroom home for $388,000 and a two-bedroom home listed for $524,900.
Sold Properties:
One four-bedroom closed for $635,000.

BERGEN-LAFAYETTE:
New Listings:
Two five-bedroom homes listed for $365,000 and $659,000.
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:

With 10-year U.S. Treasury yields breaking through 2.5 percent this week, the question many investors are asking (not for the first time) is whether this is the end of the bull run for fixed income. The bond market has a direct impact on mortgage rates. We’ve seen a quick increase in fixed mortgage rates due to the sell-off in the bond market. Right now, the average 30-year Fixed, for any loan amount, is hovering above 4.000% for the first time in approximately 9 months. The bond market looks to be entering a whole new cycle that would mark the end its decades long bull market. If this does happen, we will undoubtedly see fixed mortgage rates continue to increase.

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

ALSO OF INTEREST:
Housing Outlook 2018: 6 Expert Opinions (Forbes.com)

Minimalist Manfesto: How to Simplify Your Style at Home (Apartment Therapy)

Hoboken Awaits Word on Union Dry Dock

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