hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | November 9, 2018

Hoboken & Jersey City Real Estate Trends | November 9, 2018
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $573,000 and the average price per sq/ft is $680.
Sold Properties:
2 properties closed. The average price was $485,000 and the price per sq/ft was $721.

2-Bedrooms
New Listings:
17 new listings. The average price is $846,870 and the average price per sq/ft is $725.
Sold Properties:
8 properties closed. The average price was $687,437 and the average price per sq/ft was $732.

3-Bedrooms
New Listings:
4 new listings. The average price is $885,666 and the average price per sq/ft is $623.
Sold Properties:
4 properties closed. The price was $1,572,699 and the price per sq/ft was $705.

4-Bedrooms
New Listings:
3 new listings. The average price is $2,183,000 and the average price per sq/ft is $864.
Sold Properties:
1 property closed. The price was $2,440,000 and the average price per sq/ft was $757.

Single-Family Homes
1 new four-bedroom home listed for $1,785,000.
Sold Listings:
No sold properties.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
13 new listings. The average price is $542,906 and the average price per sq/ft is $773.
Sold Properties:
2 properties closed. The average price was $919,700 and the average price per sq/ft was $751.

2-Bedrooms
New Listings:
10 new listings. The average price is $919,700 and the average price per sq/ft is $751.
Sold Properties:
6 properties closed. The average price was $925,631 and the average price per sq/ft was $796.

3-Bedrooms
New Listings:
6 new listings. The average price is $1,188,133and the average price per sq/ft is $743.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
One new three-bedroom home listed for $975,000.
Sold Listings:
One three-bedroom sold for $1,599,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
1 new listings. The price is $299,900 and the price per sq/ft is $499.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
2 new listings. The average price is $485,000 and the average price per sq/ft is $422.
Sold Properties:
1 sold property. The price was $306,000 and the price per sq/ft was $460.

3-Bedrooms
New Listings:
5 new listings. The average price is $542,197 and the average price per sq/ft is $529.
Sold Properties:
2 sold properties. The average price was $602,500 and the average price per sq/ft was $499.

Single-Family Homes:
New Listings:
Two three-bedroom homes listed for $699,000, $799,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $269,000 and the price per sq/ft is $395.
Sold Properties:
2 sold properties. The average price was $383,750 and the average price per sq/ft was $393.

2-Bedrooms
New Listings:
2 new listings. The average price is $383,750 and the price per sq/ft is $393.
Sold properties:
4 sold listings. The average price was $286,749 and the average price per sq/ft was $301.

3-Bedrooms
New Listings:
2 new listings. The price is $599,000 and the price per sq/ft is $369.
Sold Properties:
1 sold property. The price was $200,000 and the price per sq/ft was $185.

Single-Family Homes:
New Listings:
One new four-bedroom home listed for $399,000.
Sold Properties:
No sold properties.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
One four-bedroom sold for $410,000.

(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 continued to trend up over the past week, hitting an 8-year high on the 30 Year Fixed. The nationwide average for the 30 Year Fixed, per the Mortgage Bankers’ Association, has hit 5.15%. Average rates in NJ are normally always below the national average. NJ is traditionally one of the most aggressively priced states on the mortgage rate front, which only helps homebuyers here. However, higher rates overall has only continued to weaken affordability for potential homebuyers. The key now is to see what effect, if any, the results of the mid-term elections has on the Equity and Treasury markets—and how the performance of these markets trickles down to mortgage rates.

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

ALSO OF INTEREST:

Jersey City to Buy the Powerhouse from Port Authority (JerseyDigs.com)

How to Buy a Home Before the Holidays (Realtor.com)

Veterans Day Commemorations

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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.