hOMES: Your Weekly Insight into Hoboken Real Estate Trends | APR. 15-21, 2016

Hoboken Real Estate Trends | APR. 15-21, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

HOBOKEN MARKET:
38 new listings this week, several of which exemplify the current trend of developers building larger, 3 and 4 bedroom homes. This is great for families who wish to stay and grow here, but does but a strain on more typical buyers of 1200 sq/ft+ 2-bedroom units.

Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price $449,000 and the average price per sq/ft was $626.
Sold Properties:
5 properties closed. The average price $531,000 and the average price per sq/ft was $677.

2-Bedrooms
New Listings:
24 new Listings. The average price was $864,000 and the average price per sq/ft was $760
Sold Properties:
3 properties closed. The average price was $831,000 and the average price per sq/ft was $684.

3-Bedrooms
New Listings:
3 new listings. The average price was $1,233,000 and the average price per sq/ft was $726.
Sold Properties:
3 properties closed for $1,256,000 and the price per sq/ft was $729.

4-Bedrooms
New Listings:
4 new listings. The average price was $2,017,000 and the average price per sq/ft was $752.

Single-Family Homes
2 new houses. A 3 bedroom for $699,000 and a 5 bedroom for $2,500,000.

(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 rates have remained low, despite a jump in oil prices and a rally in the equity markets. Traditionally, mortgage rates increase when the Dow, S&P and NASDAQ rise, but so far that hasn’t been the case this week. Investors are unsure of how sincere the current rally is. Next up, the markets will wait to see if the Federal Government can pass its annual budget by April 15^th. A failure to pass the budget or issue a deadline extension would increase the volatility in an already volatile market.

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

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken 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 awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past four years running (2012-2015), which represents the premium level of achievement within the Century 21 organization.