hOMES: Weekly Insight Into Hoboken and Jersey City Real Estate Trends | September 15, 2017

Hoboken and Jersey City Real Estate Trends | September 15, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Those of us who were here during Sandy will remember that pure adrenaline carried us through the first week. But as time went on and the media coverage lessened, the day-to-day reality of dealing with repairing your home or realizing that you may never be able to move back in was overwhelming. That is why this weekend’s citywide fundraiser is so important. The funds will go DIRECTLY to Greater Houston Community Foundation and Team Rubicon. hMAG recently interviewed Jon Connors from Team Rubicon and he noted that they are still working on Sandy repair.

If you are out and about in Hoboken this weekend If you are out and about in Hoboken this weekend please consider stopping by one (or more) of these great local businesses and make a donation to the Citywide Fundraiser in aid of the victims of Hurricanes Harvey and Irma:

City Bistro Restaurant Lounge Bar
Century 21 Innovative Realty
Cork City Hoboken
Court Street Restaurant & Bar
Cresthill Academy Hoboken Downtown
D’s Soul Full Cafe
Devotion Yoga
Drummond St. Strategy
The Dubliner Pub
Frankie & Ava’s Italian Eatery
Hoboken Bar Network
Hoboken Day Care 100
Hoboken Girl
Hoboken Happy Hours
Hoboken Hothouse
Jack’s Cabin
Johnny Pepperoni
Karen Nason for Mayor
Leo’s Grandevous
Little City Books
Losurdo Bros. Tony’s Italian Bread Bakery & Deli
Lysa Withay
The Madison Bar & Grill
Marty O’Brien’s
Maxwell’s Tavern
McSwiggans
Mike DeFusco for Hoboken Mayor
Mile Square Theatre
Mulligan’s Pub
The Nag’s Head Pub
Northern Soul Kitchen & Bar
Plaid Lab Creative
Ravi Bhalla for Mayor
The Shannon
Tiffanie Fisher, Councilwoman – Hoboken 2nd Ward
Willie McBride’s
World Of Wonder Daycare Center

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.

Now a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $658,285 and the average price per sq/ft is $713.
Sold Properties:
4 properties closed. The average price was $713,750 and the average price per sq/ft was $817.

2-Bedrooms
New Listings:
23 new listings. The average price is $828,821 and the average price per sq/ft is $755.
Sold Properties:
6 properties closed. The average price was $733,333 and the average price per sq/ft was $638.

3-Bedrooms
New Listings:
6 new listings. The average price is $1,268,983 and the average price per sq/ft is $802.
Sold Properties:
2 properties closed. The average price was $845,000 and the average price per sq/ft was $567.

Single-Family Homes
1 three-bedroom listed for $999,000, 1 four-bedroom listed for $3,999,000 and 1 five-bedroom listed for $4,350,000
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $658,989 and the average price per sq/ft is $771.
Sold Properties:
6 properties closed. The average price was $572,083 the average price per sq/ft was $794.

2-Bedrooms
New Listings:
20 new listings. The average price is $891,538 and the average price per sq/ft is $793.
Sold Properties:
5 properties closed. The average price was $796,999 and the average price per sq/ft was $731.

3-Bedrooms
New Listings:
5 new listings. The average price is $1,540,800 and the average price per sq/ft is $816.
Sold Properties:
2 properties closed. The average price was $814,500 and the average price per sq/ft was $652.

Single-Family Homes
New Listings:
1 three-bedroom listed for $1,329,000 and 1 five-bedroom listed for $2,250,000
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $319,000 and the price per sq/ft is $275.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 property closed. The average price was $249,000 and the average price per sq/ft was $380.

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

Single-Family Homes:
New Listings:
1 three-bedroom listing for $499,000.
Sold Properties:
No sold listings.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $309,000 and the price per sq/ft is $561.
Sold Properties:
2 properties sold. The average price is $259,500 and the average price per sq/ft is 366.

2-Bedrooms
New Listings:
3 new listings. The average price is $348,000 and the average price per sq/ft is $396.
Sold properties:
No sold listings.

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:
1 new 3 bedroom house listed for $565,000
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:

Equities have been rallying this week, causing a sell-off in the bond market. This sell-off is also due to the sharp increase in crude oil. Overall, this is bad news for mortgages rates in the short term. We’ve seen fixed mortgage rates increase since Monday. The key now is whether or not the bond market stabilizes, keeping rates at their current level. One main thing that will play a role in that is whether or not traders price in a third rate hike of the overnight lending rate later this year. Many analysts are predicting this rate hike to happen in December, which means that traders normal prepare for this with their positions prior to it happening.

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

ALSO OF INTEREST:

hMAG interviews Team Rubicon’s Jon Connors
Hoboken Citywide Hurricane Relief Fundraiser

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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.