hOMES: Weekly Insight Into Hoboken, Jersey City, & Weehawken Real Estate Trends | January 12, 2020

Hoboken, Jersey City, & Weehawken Real Estate Trends | January 12, 2020
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

The new year has gotten off to a very active start. With interest rates still low buyers are out and about and ready to buy, with some properties receiving multiple offers in what is traditionally a slow time of year.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $614,779 and the average price per sq/ft is $878.
Sold Properties:
1 property closed. The price was $475,000 and the price per sq/ft was $669.

2-Bedrooms
New Listings:
13 new listings. The average price is $747,607 and the average price per sq/ft is $736.
Sold Properties:
5 properties closed. The average price was $687,800 and the average price per sq/ft was $682.

3-Bedrooms
New Listings:
5 new listings.  The average price is $1,216,999 and the average price per sq/ft is $953.
Sold Properties:
1 sold property. The price was $1,470,000 and the price per sq/ft was $852.

4+ Bedrooms
New Listings:
No new listings.
Sold Properties:
2 properties closed. The average price was $1,475,000 and the average price per sq/ft was $675.

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

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
13 new listings. The average price is $612,999 and the average price per sq/ft is $859.
Sold Properties:
1 property closed. The price was $525,000 and the price per sq/ft was $685.

2-Bedrooms
New Listings:
21 new listings. The average price is $1,048,190 and the average price per sq/ft is $839.
Sold Properties:
2  properties closed. The average price was $1,080,000 and the average price per sq/ft was $726.

3-Bedrooms
New Listings:
2 new listings.  The average price is $1,087,000 and the average price per sq/ft is $746.
Sold Properties:
2 sold properties. The average price was $1,137,000 and the average price per sq/ft is $686.

Single-Family Homes
New Listings:
Two new three-bedroom homes listed for $1,299,000 and $1,279,000.
Sold Listings:
No sold listings.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
2 new listings. The average price is $332,000 and the average price per sq/ft is $424.
Sold Properties:
1 sold property.  The price was $165,000 and the price per sq/ft is $373.

2-Bedrooms
New Listings:
5 new listings. The average price is $494,950 and the average price per sq/ft is $517.
Sold Properties:
No sold properties

3-Bedrooms
New Listings:
10 new listings. The average price is $642,399 and the average price per sq/ft is $471.
Sold Properties:
2 properties closed. The average price was $642,399 and the price per sq/ft was $581.

Single-Family Homes
New Listings:
No new listings.
Sold Properties:
One new four-bedroom home sold for $385,000.

2-Bedrooms
New Listings:
1 new listing. The price is $249,900 and the price per sq/ft is $430.
Sold properties:
No sold properties.

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

Single-Family Homes
New Listings:
One six-bedroom home listed for $499,000.
Sold Properties:
No sold listings.

BERGEN-LAFAYETTE:
New Listings:
One three- bedroom home listed for $719,000.
Sold Properties:
No sold listings.

WEEHAWKEN:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $605,000 and the average price per sq/ft is $526.
Sold Properties:
2 properties closed. The average price was $479,500 and the average price per sq/ft was $633.

2-Bedrooms
New Listings:
5 new listings. The average price is $903,577 and the average price per sq/ft is $746.
Sold Properties:
No sold properties.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 sold property. The price was $1,395,000 and the price per sq/ft was $899.

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

(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:

The last two weeks of the year are always the slowest in the mortgage industry, and while refinance volume took a vacation, the amount of inquiries from potential homebuyers was uncharacteristically strong. Overall, total mortgage application volume fell 1.5% for the last two weeks of the year, according to the Mortgage Bankers Association’s seasonally adjusted index.

Mortgage applications to purchase a home have increased 5% from the two previous weeks and were 2% higher than a year ago. Currently, buyers in most markets are facing an extremely lean supply of homes for sell, so some are trying to get out early and beat the competition. Real estate agents across the country are reporting extraordinarily strong demand for early January.

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

ALSO OF INTEREST:
Jersey City Parking Lot Sells for $1.45M (JerseyDigs.com)

Hoboken Exploring Micromobility Options

Optimizing the Home Office (Realtor.com)

*****************
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 2015-2018, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past seven years running (2012-2018), which represents the premium level of achievement within the Century 21 organization.