hOMES: Weekly Insight Into Hoboken and Jersey City Real Estate Trends | September 1, 2017

Hoboken and Jersey City Real Estate Trends | September 1, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

This week is one of the slowest in Real Estate, as everyone tries to enjoy the last week of Summer. We will see increased activity over the next few weeks as people put their homes on the market in the hope of moving before the holiday season.

While Real Estate may not be on people’s minds this week, the tragedy unfolding in Texas most certainly is.

Hoboken received a huge amount of love and support from people all over the country after Sandy struck. Now it’s our turn to give back.

With the help of those experienced in coordinating previous flood relief fundraisers, hMAG will be organizing a citywide donation event on Saturday, September 16. Participating bars and restaurants will charge an optional $1 cover, with an additional collection bin on the bar for patrons to pitch in should they feel so inclined. Collection buckets will also be distributed to local retailers and other businesses. ALL collected funds will be donated directly to the Greater Houston Community Foundation’s Hurricane Harvey Relief Fund.

The wider the net, the bigger the yield—this fundraising event is open to anyone and everyone willing to participate.

Interested parties, please contact chris@hmag.com.

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $657,497 and the average price per sq/ft is $954.
Sold Properties:
6 properties closed. The average price was $538,833 and the average price per sq/ft was $704.

2-Bedrooms
New Listings:
4 new listings. The average price is $849,998 and the average price per sq/ft is $733.
Sold Properties:
7 properties closed. The average price was $735,071 and the average price per sq/ft was $729.

3-Bedrooms
New Listings:
1 new listing. The price is $1,399,000 and the price per sq/ft is $863.
Sold Properties:
1 sold listing. The average price was $1,119,666 the price per sq/ft was $707.

Single-Family Homes
No new listings
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $731,944 and the average price per sq/ft is $857.
Sold Properties:
5 properties closed. The average price was $598,600 the average price per sq/ft was $784.

2-Bedrooms
New Listings:
6 new listings. The average price is $1,093,283 and the average price per sq/ft is $929.
Sold Properties:
3 properties closed. The average price was $758,333 and the average price per sq/ft was $663.

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

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
No new listings this week
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
3 new listings. The price is $344,300 and the price per sq/ft is $286.
Sold Properties:
2 properties closed. The price was $349,500 and the price per sq/ft was $427.

3-Bedrooms
New Listings:
No new listings
Sold Properties:
2 properties closed. The average price was $551,625 and the average price per sq/ft was $509.

Single-Family Homes:
New Listings:
2 three-bedroom homes priced at $349,000 and $449,000 and 1 two-bedroom listed for $315,000
Sold Properties:
1 three-bedroom closed for $670,000

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $321,300 and the average price per sq/ft is $461.
Sold Properties:
3 properties sold. The average price is $241,666 and the average price per sq/ft is $312.

2-Bedrooms
New Listings:
1 new listing. The price is $329,900 and the average price per sq/ft is $297.
Sold properties:
4 properties sold. The average price was $261,225 and the average price per sq/ft was $264.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
No new listings.

Single-Family Homes:
New Listings:
No new listings.
Sold Properties:
No sold properties this week.

BERGEN-LAFAYETTE:
New Listings:
3 new single-family homes listed. A two-bedroom for $150,000 and 2 three-bedroom homes for $179,900 and $299,000.
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 trending down, following oil prices over the last few days.   Oil markets were hit hard by Hurricane Harvey, which knocked out several refineries, thereby disrupting fuel production. We have seen some stabilization in the bond market today, as well as with the dollar. We’ll see if this holds going into the holiday weekend, and what happens next week once the market is back to full volume. Next week should provide some direction for rates in the short term.

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

ALSO OF INTEREST:

6 Great Things to Do in Hoboken (PureWow.com)

Alexander Hamilton Predicted Jersey City Would Become “Metropolis of the World” (JerseyDigs.com)

Hurricane Preparedness for Homeowners (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.