hOMES: Your Weekly Insight into Hoboken Real Estate Trends | MAY 27-JUNE 2, 2016

Hoboken Real Estate Trends | May 27- June 2, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

A short week for most with the holiday, but a regular week in the world of Hoboken Real Estate, with 23 new listings coming on the market.

Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $409,600 and the average price per sq/ft is $653.
Sold Properties:
6 properties closed. The average price was $521,583 and the average price per sq/ft was $687.

2-Bedrooms
New Listings:
12 new listings. The average price is $724,624 and the average price per sq/ft is $686
Sold Properties:
11 properties closed. The average price was $761,590 and the average price per sq/ft was $648.

3-Bedrooms
New Listings:
2 new listings. The average price is $1,715,000 and the average price per sq/ft is $805
Sold Properties:
No listings sold.

Single-Family Homes
4 new single-family homes. One 2-bedroom for $1,647,000. Two 3-bedroom homes for $1,895,000 and $3,600,000 and one 4-bedroom for $2,000,000.

(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

Recently, The Fed released the minutes from its last meeting. These showed that sentiment has grown for a second increase of overnight lending rates in 2016. Whether this will be in June or July is yet to be seen, but the markets have reacted accordingly. We’ve seen a steady sell off in the bond market for the past week, causing a slight bump in mortgage rates. Normally, the market will stabilize going into the holiday weekend, as overall trading volume will start to reduce. This leaves us with waiting until the beginning of June to get further guidance from the markets, and to see if this trend upwards on rates will continue, or if we we’ll see things settle back down.

CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy…
ALSO OF INTEREST:

Hoboken’s Washington Street Redesign Gets Fully Funded (JerseyDigs.com)

Sinatra Drive to Gain Multi-Use Lane, at the Cost of 34 Parking Spaces (hMAG.com)

Speaking of Sinatra… “Sinatra Idol” is this Thursday, June 9th (City of Hoboken)

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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.