hOMES: Your Weekly Insight into Hoboken Real Estate Trends | FEB. 26-MAR. 3, 2016

Hoboken Real Estate Trends | February 26-March 3, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Twenty-seven new places hit the market this week. It’s worth noting that a large number of the units that were listed this week and last week are already under contract—many of them having received multiple offers.

Over the next couple of weeks I will expand on this and discuss how to approach bidding wars so you are in a better position to have your offer accepted, or if you are selling, how to capture a larger number of potential buyers.

Studio/ One-Bedrooms
New listings:
2 new listings. The average price $416,000 and the average price per sq. ft was $655.
Sold Properties:
8 properties closed. The average price $519,000 and the average price per sq. ft was $615.

2-Bedrooms
New listings:
17 new Listings. The average price was $836,000 and the average price per sq. ft was $682.
Sold Properties:
5 properties closed. The average price was $750,000 and the average price per sq ft was $603.

3-Bedrooms
New listings:
7 new listings. The average price was $1,415,000 and the average price per sq ft was $912.
Sold listings:
1 property closed. The price was $985,000. Price per sq ft was $675.

4+ Bedrooms
New listings:
1 new listing, a 5-bedroom for $2,500,000. Price per sq ft is $926.
Sold listings:
1 4-bedroom sold for $1,635,000. Price per sq ft was $789.

Single-Family Homes
2 new listings, one for $775,000 the other for $1,399,000.

(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 been trending up this week, which leaves them much higher than the long-term lows seen only a few weeks ago.  Of course “much” is a relative term, and in this case, it pertains to the sticker shock that rate shoppers would have today versus, say, February 11th, when rates approached a 2-year low.

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

ALSO OF INTEREST:

-Hoboken Community Invited to Public Meeting on the Redevelopment Plan for the Southwest Rehabilitation Area (via City of Hoboken)

-Wondering about the development uptown? Check out NOVIA – North of the Viaduct (via hMAG.com)

-Thinking of updating your kitchen? These improvements are worth doing (via Realtor.com)

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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.