hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | June 15, 2018

Hoboken & Jersey City Real Estate Trends | June 15, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

School is winding down and relaxing days of summer are on the way, but the real estate market in our area always remains active.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
14 new listings. The average price is $532,984 and the average price per sq/ft is $739.
Sold Properties:
3 properties closed. The average price was $546,667 and the average price per sq/ft was $715.

2-Bedrooms
New Listings:
13 new listings. The average price is $746,153 and the average price per sq/ft is $742.
Sold Properties:
6 properties closed. The average price was $1,061,166 and the average price per sq/ft was $862.

3-Bedrooms
New Listings:
7 new listings. The average price is $1,371,857 and the average price per sq/ft is $727.
Sold Properties:
3 sold properties. The average price was $1,188,500 and the price per sq/ft was $803.

4-Bedrooms
New Listings:
7 new listings. The average price is $1,784,714 and the average price per sq/ft is $745.
Sold Properties:
No sold properties

Single-Family Homes
1 new three-bedroom homes listed for $1,995,000.
Sold Listings:
1 three-bedroom home closed for $1,600,000 and a seven-bedroom home sold for $2,495,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $662,598 the average price per sq/ft is $897.
Sold Properties:
2 properties closed. The average price was $596,000 and the average price per sq/ft was $920.

2-Bedrooms
New Listings:
26 new listings. The average price is $929,743 and the average price per sq/ft is $815.
Sold Properties:
2 properties closed. The average price was $747,500 and the average price per sq/ft was $580.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,387,000 and the average price per sq/ft is $818.

Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
Two new three-bedroom homes listed for $850,000 and $925,000 . One four-bedroom listed for $1,495,000.
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
3 new listings. The average price is $236,666 and the price per sq/ft is $445.
Sold Properties:
1 property closed. The price was $175,000 and the price pre sq/ft was $400.

2-Bedrooms
New Listings:
7 new listings. The average price is $344,571 and the average price per sq/ft is $353.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
4 new listings. The average price is $401,999 and the price per sq/ft is $358.
Sold Properties:
1 property closed. The price was $423,000 and the price pre sq/ft was $357.

Single-Family Homes:
New Listings:
1 four-bedroom listed for $649,000 a five-bedroom listed for $699,000 and a seven-bedroom listed for $859,000.

Sold Properties:
One four-bedroom homes sold for $629,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $391,500 and the average price per sq/ft is $515.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
8 new listings. The average price is $328,196 and the average price per sq/ft is $308.
Sold properties:
2 sold listing. The price was $405,000 and the price per sq/ft was $375.

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

Single-Family Homes:
New Listings:
4 three-bedroom home listed from $450,000 to $525,000 and a five-bedroom home listed for $975,000.
Sold Properties:
One three-bedroom sold for $900,000 and a five-bedroom sold for $420,000.

BERGEN-LAFAYETTE:
New Listings:
One three-bedroom listed for $399,000 and a four-bedroom listed for $662,000.
Sold Properties:
A three-bedroom sold for $399,000.

(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:

The Fed increased the Prime rate another .25% this past Wednesday. They also have guidance towards 2 more additional rate hikes this year. While Prime does have an impact on mortgage rates in the long term, the impact is not directly proportional in the short term.

After declining for a little over a month, mortgage applications are finally seeing a slight increase. Mortgage rates have been on the rise throughout 2018, and moved sharply higher in early April. This upward pressure has continued into this week. Mortgage rates loosely follow the yield on the 10-year Treasury bond. Rates are expected to move steadily higher this year, despite temporary fluctuations. We’ll continue to monitor the impact rates have on the market and affordability for homeowners.

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

ALSO OF INTEREST:

Sinatra Birthplace Going Condo (JerseyDigs.com)

What You Need to Know about HELOC—Home Equity Line of Credit (Realtor.com)

902 Brewing to Help Hoboken American Legion Post 107 House Homeless Vets

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