hOMES: Your Weekly Insight into Hoboken Real Estate Trends | SEPTEMBER 2-8, 2016

Hoboken Real Estate Trends | September 2-8, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Now that the Summer is unofficially over, Hoboken Real Estate gets a “second wind.”

There are 44 new condo listings and 2 new single-family home listings this week. Expect to see even more places come up over the next few weeks, as both buyers and sellers gear up for an active Fall market.

HOBOKEN MARKET
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $530,428 and the average price per sq/ft is $769.
Sold Properties:
3 properties closed. The average price was $956,033 and the average price per sq/ft was $938.

2-Bedrooms
New Listings:
33 new Listings. The average price is $848,775 and the average price per sq/ft is $703.
Sold Properties:
6 properties closed. The average price was $926,833 and the average price per sq/ft was $737.

3-Bedrooms
New Listings:
3 new listings. The average price is $1,426,666 and the price per sq/ft is $847.
Sold Properties:
1 property closed. The price was $947,500 and the price per sq/ft was $672.

4-Bedrooms
New Listings:
1 new listing. The price is $3,999,000 and the price per sq/ft is $963.
Sold Properties:
No closed properties this week.

Single-Family Homes
New Listings:
2 new single family listings this week. A 4-bedroom for $1,950,000 and a 5-bedroom for $2,350,000.
Sold Listings:
No closed propeties this week.

(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
U.S. payrolls grew at a slower rate than expected in August. This is a sign that the job market is cooling as the economy approaches perceived “full employment.” This has had little impact on mortgage rates in the short term, as they have been holding steady. The key now will be how the Fed digests the economic data available to them, and if this will be enough to signal an increase in “Prime” in the final third of the year. An increase in the “Prime” rate is not directly proportional to mortgage rates, but will undoubtedly sway them up or down.

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

ALSO OF INTEREST:

How to Stage Your Home While Living in it—Without Losing Your Mind… (Realtor.com)

Hoboken Italian Festival is This Weekend

Annual September 11^th Memorial Service to be held on Pier A

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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.