hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | November 2, 2018

Hoboken & Jersey City Real Estate Trends | November 2, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Hope everyone had a great Halloween!

Check out this week’s real estate numbers—they’re not as scary as you might think.

Ours remains a vibrant and dynamic real estate market. Speak with your real estate professional to determine how you can make the most of it…

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $537,500 and the average price per sq/ft is $752.
Sold Properties:
3 properties closed. The average price was $498,000 and the price per sq/ft was $746.

2-Bedrooms
New Listings:
14 new listings. The average price is $905,035 and the average price per sq/ft is $745.
Sold Properties:
10 properties closed. The average price was $787,400and the average price per sq/ft was $685.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
3 properties closed. The average price was $1,273,813 and the average price per sq/ft was $685.

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

Single-Family Homes
1 new three-bedroom home listed for $1,119,000.
Sold Listings:
1 two-bedroom home sold for $899,000 and 1 three-bedroom sold for $1,625,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $594,909 and the average price per sq/ft is $804.
Sold Properties:
5 properties closed. The average price was $600,8000 and the average price per sq/ft was $791.

2-Bedrooms
New Listings:
5 new listings. The average price is $778,200 and the average price per sq/ft is $669.
Sold Properties:
5 properties closed. The average price was $829,400 and the average price per sq/ft was $795.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,321,500 and the average price per sq/ft is $790.
Sold Properties:
No sold listings.

Single-Family Homes
New Listings:
One new three-bedroom home listed for $998,000 and one new four-bedroom listed for $1,650,000.
Sold Listings:
No sold properties..

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
1 new listings. The price is $374,000 and the price per sq/ft is $519.
Sold Properties:
1 sold property. The price was $402,000 and the price per sq/ft was $383.

2-Bedrooms
New Listings:
2 new listings. The average price is $254,950 and the average price per sq/ft is $416.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
3 new listings. The average price is $638,300 and the average price per sq/ft is $390.
Sold Properties:
1 sold property. The price was $585,888 and the price per sq/ft was $494.

Single-Family Homes:
New Listings:
Two new two-bedroom homes listed for $575,000 and $599,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $399,333 and the average price per sq/ft is $465.
Sold Properties:
1 sold property. The price was $211,250 and the average price per sq/ft was $454.

2-Bedrooms
New Listings:
3 new listings. The average price is $364,300 and the price per sq/ft is $434.
Sold properties:
1 sold listing. The price was $220,000 and the average price per sq/ft was $276.

3-Bedrooms
New Listings:
8 new listings. The average price is $633,749 and the average price per sq/ft is $439.
Sold Properties:
1 sold listing. The price was $502,200 and the average price per sq/ft was $378.

Single-Family Homes:
New Listings:
Four new homes listed for $499,000 to $619,000.
Sold Properties:
One four-bedroom sold for $640,000.

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:

Mortgage rates have moved slightly higher this week, as bond markets have been weakening.  There will likely be more volatility later this week, as the Monthly Jobs’ Report is set to come out on Friday. Fixed mortgage rates loosely follow the yield on the 10-year Treasury.  Total mortgage application volume fell 2.5 percent week over week, according to the Mortgage Bankers Association’s seasonally adjusted index.  This is 16% lower than a year ago, when mortgage rates were nearly a full percentage point lower.  Home sales have been slowing over the past few months, but there was a slight uptick in signed contracts to buy existing homes in September.   We’ll see if that is a trend that continues, or if it was homebuyers coming off the sidelines due to the fear of interest rates continuing to rise.

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

ALSO OF INTEREST:
Hoboken Artists Studio Tour – Nov. 2, 3, & 4

Which Jersey City Neighborhood is Best For YOU? (JerseyDigs)

Weekend PATH Service in Hoboken Restored

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