hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | September 21, 2018

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

Happy Fall!!!

We’ve had a number of new listings this week and should see increased activity in the weeks to come—in the form of new listings and more buyers exploring the market—as we go deeper into autumn.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
11 new listings. The average price is $585,545 and the average price per sq/ft is $746.
Sold Properties:
6 properties closed. The average price was $495,316 and the average price per sq/ft was $733.

2-Bedrooms
New Listings:
21 new listings. The average price is $846,606 and the average price per sq/ft is $784.
Sold Properties:
10 properties closed. The average price was $789,250 and the average price per sq/ft was $726.

3-Bedrooms
New Listings:
8 new listings. The average price is $1,482,621 and the average price per sq/ft is $802.
Sold Properties:
1 sold property. The price was $1,332,500 and the price per sq/ft was $685.

4-Bedrooms
New Listings:
No new listings.
Sold Properties:
2 properties closed. The average price was $1,567,500 and the average price per sq/ft was $756.

Single-Family Homes
New Listings:
1 new two-bedroom home listed for $1,100,000 a three-bedroom home listed for $1,6255,000, three four-bedroom homes listed for $2,189,000 and $2,595,000 and $5,250,000 and a seven-bedroom home listed for $3,800,000.
Sold Listings:
1 four-bedroom home closed for $1,615,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $566,640 the average price per sq/ft is $727.
Sold Properties:
5 properties closed. The average price was $626,600 and the average price per sq/ft was $809.

2-Bedrooms
New Listings:
13 new listings. The average price is $771,837 and the average price per sq/ft is $758.
Sold Properties:
11 properties closed. The average price was $793,636 and the average price per sq/ft was $708.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,119,500 and the average price per sq/ft is $693.
Sold Properties:
1 property closed. The price was $1,290,000 and the average price per sq/ft was $885.

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 $343,299 and the price per sq/ft is $374.
Sold Properties:
2 new listings. The average price is $204,000 and the average price per sq/ft was $327.

2-Bedrooms
New Listings:
2 new listings. The average price is $574,499 and the average price per sq/ft is $442.
Sold Properties:
2 sold property. The price was $387,000 and the average price per sq/ft was $561.

3-Bedrooms
New Listings:
5 new listings. The price is $588,800 and the price per sq/ft is $399.
Sold Properties:
1 property closed. The price was $505,000 and the price per sq/ft was $374.

Single-Family Homes:
New Listings:
One four bedroom home listed for $605,000.
Sold Properties:
One three-bedroom sold for $546,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $212,500 and the average price per sq/ft is $321.
Sold Properties:
1 sold listing. The price was $245,000 and the price per sq/ft is $490.

2-Bedrooms
New Listings:
3 new listings. The average price is $404,966 and the price pre sq/ft is $338.
Sold properties:
No sold listings.

3-Bedrooms
New Listings:
4 new listings. The average price is $536,725 and the average price per sq/ft is $395.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One new four-bedroom home listed for $475,000.
Sold Properties:
One five-bedroom sold for $879,000.

BERGEN-LAFAYETTE:
New Listings:
One two-bedroom listed for $280,000 and a three-bedroom listed for $229,000.
Sold Properties:
A three-bedroom sold for $130,000.

(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:

Interest rates for home loans have reached 7 year highs this week. However, this may be what’s getting borrowers back to their brokers — fear that rates could move significantly higher in the coming months. Buyers who might have been thinking rates could move even lower may now be reacting to a new surge in rates, thinking they’d better get in now while the getting is still relatively good. Mortgage applications for purchases were pretty slow all summer, but have gained on an weekly basis for the past five weeks. Whether or not the upward trend in mortgage rates will continue, and how this impacts our local market is something we will see play out this Fall.

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

ALSO OF INTEREST:

IT PAYS TO BE A HOMEOWNER: Home Equity Shoots Up! (Realtor.com)

Hoboken’s Church of the Holy Innocents May Become Cultural Center (JerseyDigs.com)

Saint Peter & Paul Oktoberfest — September 21-22

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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.