hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | June 29, 2018

Hoboken & Jersey City Real Estate Trends | June 29, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Happy 4^th of July! I hope everyone has a happy, fun and safe holiday!

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
10 new listings. The average price is $561,889 and the average price per sq/ft is $797.
Sold Properties:
4 properties closed. The average price was $492,500 and the average price per sq/ft was $743.

2-Bedrooms
New Listings:
22 new listings. The average price is $873,313 and the average price per sq/ft is $757.
Sold Properties:
9 properties closed. The average price was $998,661 and the average price per sq/ft was $825.

3-Bedrooms
New Listings:
1 new listing. The price is $1,450,000 and the price per sq/ft is $831.
Sold Properties:
3 sold properties. The average price was $1,119,665 and the price per sq/ft was $819.

Single-Family Homes
No new listings.
Sold Listings:
1 three-bedroom home closed for $1,560,

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
9 new listings. The average price is $601,472 the average price per sq/ft is $781.
Sold Properties:
4 properties closed. The average price was $526,375 and the average price per sq/ft was $683.

2-Bedrooms
New Listings:
10 new listings. The average price is $1,017,900 and the average price per sq/ft is $908.
Sold Properties:
1 property closed. The price was $775,000 and the price per sq/ft was $631.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,298,906 and the price per sq/ft is $906.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
One new three-bedroom homes listed for $1300,000 and one five-bedroom listed for $1,499,000.
Sold Listings:
One four-bedroom home closed for $2,300,000

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings.
Sold Properties:
1 property closed. The price was $525,000 and the price pre sq/ft was $446.

2-Bedrooms
New Listings:
1 new listing. The price is $799,000 and the average price per sq/ft is $495.
Sold Properties:
1 sold property. The price was $690,000 and the average price per sq/ft is $456.

3-Bedrooms
New Listings:
4 new listings. The average price per sq/ft $629,750 and the average price per sq/ft is $436.
Sold Properties:
1 sold property. The price was $685,000 and the price per sq/ft was $562.

Single-Family Homes:
New Listings:
One new four-bedroom home listed for $599,000.
Sold Properties:
2 two-bedroom homes sold for $350,000 and $420,000 and a four-bedroom home sold for $527,500.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The price is $241,214 and the average price per sq/ft is $309.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
5 new listings. The average price is $425,179 and the average price per sq/ft is $368.
Sold properties:
3 sold listings. The price was $355,666 and the price per sq/ft was $359.

3-Bedrooms
New Listings:
1 new listing. The price is $381,000 and the price per sq/ft is $425.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
1 two-bedroom home listed for $450,000 , a three-bedroom listed for $599,000, and a fout-bedroom $499,000
Sold Properties:
One three-bedroom sold for $299,000

BERGEN-LAFAYETTE:
New Listings:
One two-bedroom home listed for $249,000, and a three-bedroom listed for $369,000, Sold Properties:
A three-bedroom sold for $166,000.

(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:

Mortgage rates have been very stable over the past few weeks, despite escalating trade war rhetoric that has caused a pullback in the Equity markets. However, mortgage applications to purchase a home have declined, falling 6 percent for the past week. This shows that homebuyers have been pulling away from this summer’s expensive and competitive housing market, even as interest rates have settled. Home affordability has continued to weaken on a national level. While there has been affordability pressure in our local market as well, we are not seeing the same weakening other parts of the country are experiencing.

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

ALSO OF INTEREST:

Hoboken Launches Task Force on Homelessness (JerseyDigs.com)

Save Money With a Bigger Home? See How It’s Done… (ApartmentTherapy.com)

Staying Cool—Without A/C (Greatest.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 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.