hOMES: Weekly Insight Into Hoboken, Jersey City, & Weehawken Real Estate Trends | November 22, 2019

Hoboken, Jersey City, & Weehawken Real Estate Trends | November 22, 2019
by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

You ask, we answer—Weehawken.

As the ever-dynamic Hudson County real estate scene continues to evolve, we’re expanding our scope to include our neighbors in the Township of Weehawken, with their spectacular views and relatively quick commutes.

Your feedback is appreciated, and we’ll always do our best accommodate… because that’s what good realtors do!!!

Here are this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
10 new listings. The average price is $549,790 and the average price per sq/ft is $718.
Sold Properties:
2 properties closed. The average price was $524,500 and the average price per sq/ft was $691.

2-Bedrooms
New Listings:
6 new listings. The average price is $823,133 and the average price per sq/ft is $749.
Sold Properties:
8 properties closed. The average price was $715,374 and the average price per sq/ft was $619.

3-Bedrooms
New Listings:
1 new listing. The price is $1,899,000 and the average price per sq/ft is $1,115.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
One two-bedroom home sold for $1,565,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
3 new listings. The average price is $593,000 and the average price per sq/ft is $824.
Sold Properties:
3 sold properties. The average price was $520,665 and the average price per sq/ft was $774.

2-Bedrooms
New Listings:
3 new listings. The average price is $925,666 and the average price per sq/ft is $796.
Sold Properties:
7 sold properties. The average price was $1,177,142 and the average price per sq/ft was $848.

3-Bedrooms
New Listings:
1 new listing. The price is $789,000 and the price per sq/ft is $766.
Sold Properties:
3 sold properties. The average price was $1,157,666 and the average price per/sq ft was $702.

Single-Family Homes
New Listings:
No new listings.
Sold Listings:
One three-bedroom sold for $1,160,000.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
1 new listing. The price is $499,000 and the price per sq/ft is $588.
Sold Properties:
1 sold property. The price was $235,000 and the price per sq/ft was $391.

2-Bedrooms
New Listings:
4 new listings. The average price is $337,225 and the average price per sq/ft is $557.
Sold Properties:
1 sold property. The price was $335,000 and the price per sq/ft was $382.

3-Bedrooms
New Listings:
9 new listings. The average price is $699,533 and the average price per sq/ft is $489.
Sold Properties:
1 sold property. The price is $590,000 and the price per sq/ft is $453.

Single-Family Homes:
New Listings:
One three-bedroom home listed for $649,000.
Sold Properties:
One four-bedroom sold for $706,317.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $459,000 and the price per sq/ft is $555.
Sold Properties:
1 sold property. The price was $221,000 and the price per sq/ft was $343.

2-Bedrooms
New Listings:
1 new listings. The price is $395,000 and the price per sq/ft is $491.
Sold properties:
3 sold properties. The average price was $398,333 and the average price per sq/ft was $391

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
1 sold property. The price was $535,000 and the price per sq/ft was $301.

Single-Family Homes:
New Listings:
No new listings.
Sold Properties:
Two three-bedroom sold for $650,000.

BERGEN-LAFAYETTE:
New Listings:
No new listings.
Sold Properties:
One three bedroom home sold for $525,000 and one five-bedroom home sold for $240,000.

WEEHAWKEN:
Studio/ 1-Bedrooms
New Listings:
1 new listing. The price is $510,000 and the price per sq/ft is $584.
Sold Properties:
No sold properties.

2-Bedrooms
New Listings:
3 new listings. The average price is $1,163,337 and the average price per sq/ft is $785.
Sold properties:
2 sold properties. The average price was $974,999 and the average price per sq/ft was $603.

3-Bedrooms
New Listings:
4 new listings. The average price is $1,671,249 and the average price per sq/ft is $909.
Sold Properties:
3 sold properties. The average price was $1,252,000 and the average price per sq/ft was $714.

Single-Family Homes:
New Listings:
One four-bedroom home listed for $1,125,000.
Sold Properties:
One three-bedroom home sold for $825,000.

(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:

Mortgage refinance demand fell last week, even though we saw rates trend down slightly. This caused total mortgage application volume to decline 2.2% for the week, according to the Mortgage Bankers Association’s seasonally adjusted survey. The week’s results include an adjustment for the Veterans Day holiday.

Refinance applications dropped 8% for the week, after jumping 13% the previous week. Refinance demand is highly rate-sensitive, and borrowers tend to move quickly when they think rates may be turning higher for the foreseeable future. Rates fell slightly last week, so borrowers may now be thinking they could go even lower.

Mortgage applications to purchase a home increased 7% for the week and were 7% higher than a year ago. Nationally, housing demand is stronger this fall than in 2018, thanks to lower mortgage rates and pent-up demand from a slow spring.

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

ALSO OF INTEREST:
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Most Expensive Zip Codes in America (PropertyShark.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.