hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | January 5, 2018

Hoboken & Jersey City Real Estate Trends | January 5, 2018

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

As we reach historic low temperatures in our area I thought it would be a good idea to look at other historic lows and highs. Here’s a look at the most and least expensive homes that sold in 2017. (Please note, these numbers are from the MLS—so private sales are not included.)

HOBOKEN:
Hoboken came out on top with the most sales and the highest prices. A total of 850 condos were sold. The least expensive condo was a studio on 1^st and Adams for $295,000. The most expensive sale was a 2 bed/ 2.5 bath condo at Maxwell place for $2,775,000–offering direct NYC views.

Single-Family Homes
46 single-family homes sold, ranging from a 2 bedroom on Willow Terrace for $800,000 to a 4 bedroom on 7^th and Park for $2,760,000.

DOWNTOWN JERSEY CITY:
Downtown JC also had a busy year, with 606 condo sales. These ranged from a one bedroom for 165,000 on Wayne street to a 3-bedroom condo for $2,475,000 at 77 Hudson.

Single-Family Homes
26 single-family homes sold ranging from $650K for a 2-bedroom on 7^th street to $2,250,000 for 5-bedroom home on 8^th Street.

JERSEY CITY HEIGHTS:
The Heights saw a big increase in sales and price, with 211 units sold, ranging from a 1-bedroom unit for $69,325 to a 4-bedroom unit on Webster closing for $910,000.

Single-Family Homes:
80 single family homes sold ranging from $175,000 for a 3-bedroom on Beach to $835,000 for a 3-bedroom on New York Avenue.

JOURNAL SQUARE:
Another area that saw a lot of growth. With 248 units sold across a wide range of prices, from a 2-bedroom for $60,000 to $1,875,000 for a condo at “Division 25.”

Single-Family Homes:
65 single family homes sold, ranging from $105,000 for a 4-bedroom home on Brinkerhoff to a 6-bedroom home for $1,085,000 on Gifford.

BERGEN-LAFAYETTE:
31 condos sold. The least expensive was a one-bedroom for $235,000 and the highest sale was a 4-bedroom on Halladay for $530,000.

Single-Family Homes:
14 single-family homes sold ranging from a 3-bedroom for $130,000 on Harmon to a 3 bedroom on Lafayette for $575,000.

(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:

Treasury prices ticked up, pushing yields slightly lower on Wednesday, as Wall Street awaited minutes from the Federal Reserve policy-setting gathering last month and as investors assessed Middle East unrest. This has led to stability in the mortgage rate market. However, this stability may be short-lived depending on what the Fed minutes reveal. We also have to see what this Months Jobs’ Report delivers on Friday morning. This is a consistent market mover, depending on whether or not the data in this report is in line with market expectations.

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

ALSO OF INTEREST:
Existing Homes Selling Quickly (Realtor.com)

Hoboken American Legion Post 107 Fundraiser for Homeless Veterans—Jan. 11 @ Kolo Klub

Jersey City Staple Rita & Joe’s to Close (JerseyDigs.com)

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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.