14 new listings hit the market this week.
4 new listings. The average price is $594,750 and the average price per sq/ft is $827.
4 properties closed. The average price was $668,500 and the average price per sq/ft was $702.
8 new listings. The average price is $826,437 and the average price per sq/ft is $723.
8 properties closed. The average price was $709,625 and the average price per sq/ft was $630.
1 new listing, the price is $1,489,000 and the price per sq/ft is $677.
No properties closed this week.
There is 1 new single-family listing this week—a 6-bedroom house for $2,749,000.
1 property closed this week—a small 3–bedroom for $905,000.
(Information provided by Hudson County MLS)
Mortgage Market in Review:
The upward pressure on mortgage rates has continued over the past couple of weeks. The 10-Year Note has been pushing near its highest levels of the year. With equities markets seemingly in a pre-election holding pattern for now, consumers are waiting to get some guidance on which way this market will go. For now, analysts are calling for the upward pressure on rates to continue through the election, and all the way to the Fed meeting in December. What direction mortgage rates move in from there will depend not only on the Fed’s actions, but also their words.
CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy…
ALSO OF INTEREST:
HOBOKEN HOUSE TOUR: Explore Hidden Luxury and Cutting-Edge Home Design — SUNDAY, OCT. 30
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.