hOMES: Your Weekly Insight Into Hoboken Real Estate Trends | SEPTEMBER 23-29, 2016

Hoboken Real Estate Trends | September 23-29, 2016

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Our thoughts are with everyone who was affected by Thursday’s train crash. We’re grateful for the swift response of our first responders, as well as the selfless heroism and generous spirit of local individuals and businesses.

Hoboken’s reaction in the face of such adversity reminds us why we live here.

HOBOKEN MARKET
29 new listings hit the market this week.

Studio/1-Bedrooms
New Listings:
5 new listings. The average price is $624,000 and the average price per sq/ft is $728.
Sold Properties:
7 properties closed. The average price was $580,142 and the average price per sq/ft was $713.

2-Bedrooms
New Listings:
14 new Listings. The average price is $713,136 and the average price per sq/ft is $650.
Sold Properties:
10 properties closed. The average price was $771,800 and the average price per sq/ft was $673

3-Bedrooms
New Listings:
6 new listings. The average price is $1,268,666 and the price per sq/ft was $740.
Sold Properties:
1 property closed. The price was $1,970,000 and the price per sq/ft was $949.

Single-Family Homes
New Listings:
4 new single-family listings this week. There is one 2-bedroom home for $1,325,000; a 3-bedroom home for $2,950,000; a 5-bedroom home for $2,899,000 and there is one 6-bedroom home listed for $2,899,910.
Sold Listings:
One 2-bedroom single-family home closed for $1,590,000 and 3-bedroom home closed for $2,400,000.

(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
Rates have been moving upward over the past week. Fixed rates are currently at their highest point in the past 3 months. This is mainly due to the markets pricing in an anticipated rate hike by the Fed later at some point in 2016. This rate hike could come as soon as this week, as the Fed will publicize their decision on rates this Wednesday. Most analyst are calling for a rate hike later this year, but stay tuned.

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

ALSO OF INTEREST:

Latest Commute Information

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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.