hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | November 17, 2017

Hoboken & Jersey City Real Estate Trends | November 17, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Here are these week’s numbers.

As we head into the holiday season the market is remaining strong. We still have a shortage of inventory, even for this time of the year, with Hoboken only having 157 available condos, with only 99 listed under $1,000,000. Downtown Jersey City only had 135 places, with 85 listed under $1,000,000. The Heights and Journal Square only have 57 and 79 available units.

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $629,333 and the average price per sq/ft is $850.
Sold Properties:
2 properties closed. The average price was $439,000 and the average price per sq/ft was $769.

2-Bedrooms
New Listings:
9 new listings. The average price is $932,876 and the average price per sq/ft is $753.
Sold Properties:
6 properties closed. The average price was $676,166 and the average price per sq/ft was $730.

3-Bedrooms
New Listings:
7 new listings. The average price is $1,237,557 and the average price per sq/ft is $746.
Sold Properties:
1 property closed. The average price was $1,4000,000 and the average price per sq/ft was $933.

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

Single-Family Homes
New Listings:
No new listings.
Sold properties:
2 three-bedroom properties sold for $$870,000 and $1,099,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
13 new listings. The average price is $596,982 and the average price per sq/ft is $776.
Sold Properties:
6 properties closed. The average price was $600,000 and the average price per sq/ft was $832.

2-Bedrooms
New Listings:
4 new listings. The average price is $1,070,000 and the average price per sq/ft is $901.
Sold Properties:
6 properties closed. The average price was $846,166 and the average price per sq/ft was $718.

3-Bedrooms
New Listings:
1 new listing. The price is $1,325,000 and the price per sq/ft is $696.
Sold Properties:
No sold properties

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

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
1 five-bedroom single family closed for $2,250,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
6 new listings. The average price is $270,150 and the average price per sq/ft is $430.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
1 new listing. The price is $635,000 and the average price per sq/ft is $447.
Sold Properties:
1 sold property. The price was $380,000 and the price per sq/ft was $281,

3-Bedrooms
New Listings:
2 new listings. The average price is $575,000 and the average price per sq/ft is $385.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
1 new listing. The price is $549,000 and the price per sq/ft is $230.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
3 new listings. One three-bedroom for $699,000, one four-bedroom for $549,000 and a five-bedroom for $499,000.
Sold Properties:
2 sold properties. 2 two- bedroom homes closed for $375,000 and $420,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $283,833 and the price per sq/ft is $425.
Sold Properties:
1 sold property. The price was $230,000 and the price per sq/ft was $431.

2-Bedrooms
New Listings:
3 new listings. The average price is $416,633 and the average price per sq/ft is $431.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
1 new listing. The price is $329,000 and the price per sq/ft is $365.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
1 new eight-bedroom home listed for $895,000.
Sold Properties:
No sold properties.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
1 three-bedroom home closed for $200,000.

(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:

After a sharp increase to bond yields and mortgage rates at the end of last week, we have seen both the bond and mortgage rate markets stabilize. As we head into the weekend, domestic investors are now reacting to several areas, i.e. economic date, oil, overseas markets and most importantly, the pending tax reform legislation. The passing of tax reform legislation, as proposed in its current form, is looking “iffy.” This has led to up and down movement in Equity markets this week, with the current trend being more down. This has led to mortgage rates holding their ground for now.

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

ALSO OF INTEREST:
NY Waterway Buys Union Dry Dock

Down The Shore Everything’s Alright — Asbury Park Real Estate on the Rise (JerseyDigs.com)

5 Smart Reasons to Buy a Home During the Holidays (Realtor.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.