hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | October 27, 2017

Hoboken & Jersey City Real Estate Trends | October 27, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

A quick look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $478,249 and the average price per sq/ft is $688.
Sold Properties:
7 properties closed. The average price was $519,857 and the average price per sq/ft was $704.

2-Bedrooms
New Listings:
10 new listings. The average price is $773,288 and the average price per sq/ft is $769.
Sold Properties:
3 properties closed. The average price was $668,333 and the average price per sq/ft was $689.

3-Bedrooms
New Listings:
2 new listings. The average price is $887,000 and the average price per sq/ft is $601.
Sold Properties:
2 properties closed. The price was $1,236,250 and the price per sq/ft was $690.

4-Bedrooms
New Listings:
1 new listing. The price is $1,698,000 and the average price per sq/ft is $820.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
3 new listings, 2 four-bedrooms for $2,199,990 and $2,375,000 and 1 seven-bedroom for $2,600,000.
Sold Properties:
No sold properties.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $579,700 and the average price per sq/ft is $818.
Sold Properties:
5 properties closed. The average price was $639,600 the average price per sq/ft was $828.

2-Bedrooms
New Listings:
3 new listings. The average price is $869,999 and the average price per sq/ft is $817.
Sold Properties:
3 properties closed. The average price was $684,333 and the average price per sq/ft was $796.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,412,499 and the average asking price per sq/ft is $753.
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:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
3 new listings. The average price is $196,333 and the average price per sq/ft is $394.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
6 new listings. The average price is $321,316 and the average price per sq/ft is $429.
Sold Properties:
1 property sold. The price was $485,000 and the price per sq/ft was $352.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 property sold. The price was $785,000 and the price per sq/ft was $413.

Single-Family Homes:
New Listings:
1 three-bedroom home listed for $425,000.
Sold Properties:
No sold properties.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $217,000 and the price per sq/ft is $331.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
5 new listings. The average price is $456,460 and the average price per sq/ft is $378.
Sold properties:
No sold listings.

3-Bedrooms
New Listings:
1 new listing. The price is $174,900 and the price per sq/ft is $270.
Sold Properties:
No sold listings.

Single-Family Homes:
New Listings:
1 two-bedroom home listed for $499,000, 1 three-bedroom listed for $699,000 and a five-bedroom listed for $595,000.
Sold Properties:
No sold properties this week.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
No sold listings this week.

(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 on the uptick this week, as we have seen a continuous sell off in the bond markets.  The 10-Year Note is currently sitting at its highest level in over a month. This has pushed the average 30-Year Fixed rate above 4.00%. Even though mortgage rates have been trending higher, new home sales in September rose 18.9% nationally.  That was the highest month-to-month jump in 10 years.  This is a big shot of confidence from home builders into the arm of the real estate market. We’ll see if this trend continues in the coming months, as things start to normally slow down around the holidays. The outlook on rates will undoubtedly have an impact on this.

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

ALSO OF INTEREST:
Jersey City #2, Hoboken #7 in latest Real Estate Rankings (nj.com)

HoBOOken 5K on Saturday

More Hudson County Cities Opt for Hudson Bike Share (JerseyDigs.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.