A slow week overall, with only 14 new listings… but it is a holiday week.
Expect the market to pick up more in the weeks to come.
Meanwhile, here’s “5 for 5”—a look at what you can get for $500,000 around the country, compared to what you can get here in Hoboken:
In Portland, Oregon a 3-bed/2-bath house with over 2,100 sq/ft:
In San Francisco, you can get a 1-bed/1-bath 700 sq/ft. house:
In Austin, TX $500K will get you a 4-bed/3-bath house with 3,100 sq/ft:
In Crown Heights Brooklyn you can get a 1-bed/1-bath condo:
Here in Hoboken, you can get a 2-bed/1-bath condo:
14 new listings hit the market this week.
3 new listings. The average price is $400,000 and the average price per sq/ft is $619.
4 properties closed. The average price was $626,625 and the average price per sq/ft was $776.
8 new Listings. The average price is $696,612 and the average price per sq/ft is $587.
10 properties closed. The average price was $765,200 and the average price per sq/ft was $690.
1 new listings, the price is $1,230,000 and the price per sq/ft is $671.
1 property closed. The price was $1,220,000and the price per sq/ft was $670.
2 new single-family listings this week. There is one 3-bedroom home for $879,000 a 4-bedroom home listed for $1,299,000.
No properties closed this week.
(Information provided by Hudson County MLS)
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:
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.