hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | June 21, 2019

Hoboken & Jersey City Real Estate Trends | June 21, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Welcome to summer! Just like the weather, the market is not following normal patterns.  We traditionally see a slow down in the number of properties hitting the market in the summer months, but with stabilized rates we are still seeing a good amount of activity, with 91 new listings across our areas this week.  Although once again, this hasn’t necessarily translated into increased sales volume, with pending home sales down 2% on last year according to marketwatch.  All indications are for a stronger market in the coming months, so we shall continue to monitor this trend.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $615,553 and the average price per sq/ft is $767.
Sold Properties:
5 properties closed. The average price was $421,300 and the average price per sq/ft was $728.

2-Bedrooms
New Listings:
28 new listings. The average price is $773,435 and the average price per sq/ft is $723.
Sold Properties:
4 sold properties. The average price was $949,000 and the average price per sq/ft was $738.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,242,000 and the average price per sq/ft is $732.
Sold Properties:
2 sold properties. The average price was $1,370,000 and the average price per sq/ft was $828.

4-Bedrooms
New Listings:
1 new listing. The price is $2,579,995 and the price per sq/ft is $1,201.
Sold Properties:
No sold properties.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
18 new listings. The average price is $678,049 and the average price per sq/ft is $849.
Sold Properties:
1 property closed. The  price was $ 792,000and the average price per sq/ft was $1,044.

2-Bedrooms
New Listings:
10 new listings. The average price is $908,875 and the average price per sq/ft is $768.
Sold Properties:
7 properties closed. The average price was $887,989 and the average price per sq/ft was $753.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,224,499 and the average price per sq/ft is $620.
Sold Properties:
2 sold properties. The average price is $702,500 and the average price per sq/ft is $589.

4-Bedrooms
New Listings:
No new listings.
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:
2 new listings. The average price is $187,499 and the average price per sq/ft is $376.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
3 new listings. The average price is $474,333 and the average price per sq/ft is $485.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
2 new listings. The average price is $769,000 and the average price per sq/ft is $513.
Sold Properties:
2 sold properties.  The average price was $699,000 and the average price per sq/ft was $401.

4-Bedrooms
New Listings:
1 new listing. The price is $650,000 and the price per sq/ft is $340.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
1 three-bedroom home listed for $499,000.
Sold Properties:
1 two-bedroom home sold for $499,900.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $225,000 and the average price per sq/ft is $354.
Sold Properties:
2 sold properties. The average price is $231,500 and the average price per sq/ft is $378.

2-Bedrooms
New Listings:
No new listings.
Sold properties:
1 sold property. The price was $400,000 and the average price per sq/ft was $376.

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

Single-Family Homes:
New Listings:
One four-bedroom home listed for $769,000, and a five-bedroom home listed for $499,999.
Sold Properties:
One four-bedroom home sold for $330,000.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
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 held the line on interest rates Wednesday and indicated formally that no cuts are coming in 2019. The decision came amid divisions over what is ahead and still leaves open the possibility that policy loosening could happen before the end of the year depending on how conditions unfold.  The immediate reaction in the mortgage market has been stability.   Mortgage rates have been near 17 month lows over the past month, and that looks to be holding for the near future.   Total mortgage application volume was actually down week over week, but up appx 31% year over year.   Mortgage volume normally starts to thin out this time of year, but because rates have been low the industry has seen steady activity.

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

ALSO OF INTEREST:
Investor Purchases at All-Time High (realtor.com)

Hilton Back On Again??? (Hudson Reporter)

Hoboken Nine Commemorate Birthplace of Baseball

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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.