Stats Update - April, 2010...GOOD NEWS!

We've had very substanatial absorption rate decreases for Hoboken and downtown Jersey City of 21.94% and 6.92%, respectively. These decreases indicate that it is now taking less time to sell the available inventory for both Hoboken and downtown Jersey City.

Pending sales for Hoboken and downtown Jersey City has also increased 17.01% and 19.23%, respectively. These are both strong indications that the local markets are much healthier than they were a few months ago.

We've had modest increases and decreases in price per square foot prices for all areas except for 1 bedrooms in the Newport area which incresaed 18.47%.

Overall...it's time to look at buying!

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Downtown Jersey City Sales Update - April 30, 2010

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken Sales Update - April 30, 2010

We've had very solid price per square foot sales this week.

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Pending Sales Update - April 30, 2010

Great increases in pending sales again this week.

Pending Sales for Hoboken April 30, 2010:

226 dabos vs. 214 last week (5.6% increase)


Pending Sales for downtown Jersey City April 30, 2010:

129 dabos vs. 121 last week (6.6% increase)


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Absorption Rate Update - April 30, 2010

The absorption rate is going down....down...down....for Hoboken and downtown Jersey City.

Decreasing inventory coupled with increasing demand = price increase


Hoboken Absorption Rate Update 4/30/2010:

34.77 weeks vs. 40.67 weeks last week (14.5% decrease)


Downtown Jersey City Absorption Rate Update 4/30/2010:

49.79 weeks vs. 60.84 weeks last week (18.3% decrease)

Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Pearl of Wisdom:When You're Dealing With Money-GET IT IN WRITING

I've recently been involved in a few "you're supposed to pay...no you're supposed to pay" arguments this week with fellow realtors.

Lots of hurt feelings and bruised egos.

All of these situations could have easily been resolved if the details of these last minute negotiations were written down.



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Jobless Claims Drop Again This Week

The number of Americans filing claims for unemployment benefits dropped for a second consecutive week, further evidence that the job market is slowing improving.

The Labor Department says that initial applications for jobless benefits dropped by 11,000 to 448,000, the lowest level in four weeks. That was slightly higher than economists had expected.

The four-week average for claims edged up slightly to 462,500, still above the level that economists believe signals sustained improvements in the job market.

Yet another sign that the economy is improving.

The end of month stats for Hoboken and Downtown Jersey City should also reflect the market improvements that we've all been starting to see.



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Downtown Jersey City Sales Update - April 23, 2010

There was a great sale at 288 Barrow Street at $193/ sq. ft. and it doesn't seem to have been a short sale.

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken Sales Update - April 23, 2010

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

MORE PENDING SALES FOR HOBOKEN AND DOWNTOWN JERSEY CITY - April 23, 2010

Wow! Another week of MORE pending sales for Hoboken and Downtown Jersey City!

Pending Sales for Hoboken April 23, 2010:

214 dabos vs. 210 last week (1.02% increase)


Pending Sales for downtown Jersey City April 23, 2010:

121 dabos vs. 118 last week (1..03% increase)


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Decreases AGAIN for Hoboken and Downtown Jersey City - April 23, 2010

A WHOPPING 14% decrease in the absorption rate for Hoboken this week. A 35 week inventory is considered a HEALTHY and STRONG market.

Hoboken Absorption Rate Update 4/23/2010:

35.01 weeks vs. 40.67 weeks last week (14% decrease)


Downtown Jersey City Absorption Rate Update 4/23/2010:

57.86 weeks vs. 60.84 weeks last week (5% decrease)

Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Good News! Resales Are Up This Month!

Many of my Hoboken and Downtown Jersey City readers will be pleased to read the following.....


The economy is improving, with home sales up, jobless claims down and inflation tame. Yet there are concerns the economic rebound won't get much juice from the housing market, which is being fueled by government tax breaks.

Sales of previously occupied homes grew by nearly 7 percent last month, more than expected, the National Association of Realtors said Thursday.

It was a welcome sign after three months of national declines, and a solid kickoff to what's expected to be a strong spring selling season.

I can say for certain that things have picked up in the Hoboken/Downtown Jersey City areas.


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken Sales Update - April 16, 2010

Please click on the link below if you can't see the chart:


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Pending Sales Update - April 16, 2010

More increases in sales under contract this week!

Pending Sales for Hoboken April 16, 2010:

210 dabos vs. 208 last week (.96% increase)


Pending Sales for downtown Jersey City April 16, 2010:

118 dabos vs. 116 last week (1.7% increase)


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Absorption Rate Update - April 16, 2010

Hoboken avaiable inventories continue to decrease this week with a 5.1% decrease in the absorption rate. Downtown Jersey City also remains strong this week with a meager .13% decrease.

Are these increases just a seasonal adjustment or signs of an improving real estate market?

Hoboken Absorption Rate Update 4/16/2010:

40.67 weeks vs. 42.84 weeks last week (5.1% decrease)


Downtown Jersey City Absorption Rate Update 4/16/2010:

60.84 weeks vs. 60.05 weeks last week (.13% increase)

Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Downtown Jersey City Sales Update - April 16, 2010

There was a great sale at 205 10th Street at $284/sq. ft. and it wasn't a short sale!

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken Sales Update - April 9, 2010

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Pending Sales Update - April 9, 2010

Sorry to sound like a broken record....BUT

The best way to tell if a market is strengthening is too look at the pending sales (DABOs). This is a great indicator of a market's strength. Hoboken and downtown Jersey City have increased AGAIN this week! Time to jump back into the market!

Pending Sales for Hoboken April 9, 2010:

208 dabos vs. 201 last week (3.4% increase)


Pending Sales for downtown Jersey City April 9, 2010:

116 dabos vs. 105 last week (10.46% increase)


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

The Market is HEATING UP! Hoboken/Downtown Jersey City Absorption Rate Update - April 9, 2010

Decreasing inventories with increasing demand = HIGHER PRICES!

Hoboken Absorption Rate Update 4/09/2010:

42.84 weeks vs. 53.19 weeks last week (19.5% decrease)


Downtown Jersey City Absorption Rate Update 4/09/2010:

60.05 weeks vs. 63.43 weeks last week (5.3% decrease)

Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken.Downtown Jersey City Stats Update - March, 2010

Pending sale were up an astonishing 21.88% in March in Hoboken and 8.57% for downtown Jersey City. This is a very positive sign that the market is continuing to improve.


Please click on the link below if you can't see the chart:


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Downtown Jersey City Sales Update - April 2, 2010

Things have really started to stabilize in the downtown Jersey City area over the last few weeks. We've had some strong sales with a $519 sq. ft. sale at The Shore and a respectable $435/sq. ft. sale at 296 Grand-which showed very well and had excellent finishes.

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken Sales Update - April 2, 2010

Please click on the link below if you can't see the chart:



Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Pending Sales Update - April 2, 2010

The best way to tell if a market is strengthening is too look at the pending sales (DABOs). This is a great indicator of a market's strength. Hoboken and downtown Jersey City have increased AGAIN this week! Time to jump back into the market!

Pending Sales for Hoboken April 2, 2010:

201 dabos vs. 191 last week (5.23% increase)


Pending Sales for downtown Jersey City April 2, 2010:

105 dabos vs. 101 last week (3.96% increase)


Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Has the market stabilized?

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Hoboken/Downtown Jersey City Absorption Rate Update - April 2, 2010

Inventories in both Hoboken and downtown Jersey City increase this week as the market continues to strengthen. If this continues, the next thing we're going to see are price INCREASES!

Hoboken Absorption Rate Update 4/2/2010:

43.34 weeks vs. 53.19 weeks last week (18.52% decrease)


Downtown Jersey City Absorption Rate Update 4/2/2010:

59.52 weeks vs. 63.43 weeks last week (6.17% decrease)

Information provided by:

Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com

Get up-to-the-minute market reports:

www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com