hOMES: Weekly Insight Into Hoboken, Jersey City, & Weehawken Real Estate Trends | January 17, 2020

Hoboken, Jersey City, & Weehawken Real Estate Trends | January 17, 2020
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

If you are thinking of listing your property for sale in the near future I am sure you are working on getting your place “show ready”—but if you own a condo, make sure you don’t forget to also look at the common spaces.

In real estate, we talk a lot about “curb appeal.” If you live in a condo building the curb appeal applies to the common hallways and entryway. A shoddy looking hallway with worn carpets and dinged up walls will detract from your home.

As improving the hallways takes approval from the board now may be the time to approach the group to suggest some sprucing up.

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $633,361 and the average price per sq/ft is $843.
Sold Properties:
3 properties closed. The average price was $508,666 and the average price per sq/ft was $795.

2-Bedrooms
New Listings:
10 new listings. The average price is $761,999 and the average price per sq/ft is $738.
Sold Properties:
6 properties closed. The average price was $713,045 and the average price per sq/ft was $654.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,408,333 and the average price per sq/ft is $895.
Sold Properties:
2 sold properties. The average price was $1,027,500 and the average price per sq/ft was $689.

4+ Bedrooms
New Listings:
1 new listing. The price is $2,519,955 and the price per sq/ft is $1,173.
Sold Properties:
2 sold properties. The average price was $1,862,500 and the average price per sq/ft was $711

Single-Family Homes
One new four-bedroom home listed for $1,895,000.
Sold Listings:
No sold listings.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
6 new listings. The average price is $1,143,833 and the average price per sq/ft is $955.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
2 new listings. The average price is $959,492 and the average price per sq/ft is $955.
Sold Properties:
8 sold properties. The average price was $924,212 and the average price per sq/ft was $805.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,122,000 and the average price per sq/ft is $758.
Sold Properties:
1 sold property. The price was $835,000 and the average price per sq/ft is $609.

Single-Family Homes
New Listings:
Two new three-bedroom homes listed for $999,000 and $1,699,000.
Sold Listings:
Two three-bedroom homes sold for $900,000 and $1,130,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
2 new listings. The average price is $449,500 and the average price per sq/ft is $579,000.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
4 new listings. The average price is $536,725 and the average price per sq/ft is $571.
Sold Properties:
2 sold properties. The price was $549,000 and the price per sq/ft was $315.

3-Bedrooms
New Listings:
7 new listings. The average price is $626,557 and the average price per sq/ft is $385.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One five-bedroom home listed for $699,000.
Sold Properties:
One two-bedroom home sold for $385,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $274,900 and the price per sq/ft is $596.
Sold Properties:
1 sold property. The price was $250,000 and the price per sq/ft was $403.

2-Bedrooms
New Listings:
5 new listings. The average price is $632,600 and the price per sq/ft is $612.
Sold properties:
No sold properties.

3-Bedrooms
New Listings:
2 new listings. The average price is $699,000 and the average price per sq/ft was $611.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One five-bedroom home listed for $749,000.
Sold Properties:
One new three-bedroom home sold for $475,000.

BERGEN-LAFAYETTE:
New Listings:
One three- bedroom home listed for $799,000.
Sold Properties:
No sold listings.

WEEHAWKEN:
Studio/ 1-Bedrooms
New Listings:
2 new listings. The average price is $407,000 and the average price per sq/ft is $579.
Sold Properties:
1 property closed. The price was $630,000 and the price per sq/ft was $705.

2-Bedrooms
New Listings:
2 new listings. The average price is $1,215,000 and the average price per sq/ft is $843.
Sold Properties:
2 sold properties. The average price was $880,395 and the average price per sq/ft was $528.

3-Bedrooms
New Listings:
3 new listings. The average price per sq/ft was $1,743,000 and the average price per sq/ft is $1,025.
Sold Properties:
1 sold property. The price was $855,000 and the price per sq/ft was $488.

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:

Mortgage demand increased substantially over the past week.    

Mortgage application volume was up nearly 30% week over week. This was due to mortgage rates hovering near their lowest levels of the past 3 months, as well as people being back from their holiday break. Purchase application volume hit its highest level since October 2009, according to the Mortgage Bankers Association data. This shows that homebuying demand is incredibly strong right now.  Unfortunately, there is a near record-low supply of homes on a national level. This tight supply of homes is causing an uptick in home prices, which puts continued pressure on overall affordability.

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

ALSO OF INTEREST:
Hoboken PATH Station Closed All Weekend for Signal Repairs

Kitchen Trends for 2020 (Realtor.com)

STUDY: More New Yorkers Moving to New Jersey Than Anywhere Else

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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 2015-2018, 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.