Tuesday, June 29, 2010

Price Per Square Foot is Going UP!-Stats Update-June 25, 2010



Sales on a price per square foot basis have increased in every 1 and 2 bedroom market segment, except for 2BR condos in Downtown Jersey City. Inventories have also decreased in both Hoboken and Downtown Jersey City.

So, what does this mean? If inventories keep shrinking with demand staying at a constant or increased level, prices are surely to continue to rise.

These has been a lot of talk that the tax credit was bolstering sales nationwide. That may be true in other parts of the country, but the credit isn't large enough relative to the purchase prices to really make that much of a difference in our area.


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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Solid Sales Numbers for Downtown Jersey City This Week-June 25, 2010




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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Another Great Week of Sales in Hoboken-June 25, 2010



Another great week of sales for Hoboken. Great per square foot prices! Let's see how things stack up when I tally the numbers for June.

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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Friday, June 25, 2010

Pending Sales for Hoboken Downtown Jersey City Cool Again This Week-June 25, 2010



Pending sales have cooled again this week as the deadline for the tax credit has passed. I thought that the low mortgage rates would help keep the pending sales at a slightly higher level.



Pending Sales for Hoboken June 25, 2010
187 dabos vs. 198 last week (5.6% decrease)


Pending Sales for downtown Jersey City June 25, 2010:

115 dabos vs. 115 last week (no change)



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Absorption Rate Decreases This Week-Things Are Still Looking Good-June 25, 2010



Inventories decreased this week for Hoboken and Downtown Jersey City. With inventories at reasonable levels and mortgage rates at historic lows it will be interesting to see if this trend continues once the effects of the tax credit has passed.


Hoboken Absorption Rate Update 6/25/2010:

23.44 weeks vs. 25.24 weeks last week (7.2% decrease)


Downtown Jersey City Absorption Rate Update 6/25/2010:

43.13 weeks vs. 46.88 weeks last week (8% decrease)


Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Friday, June 18, 2010

Downtown Jersey City Sales Update - June 18, 2010




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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Per Square Foot Pricing For Hoboken 1BR Over $500/sq. ft. - Hoboken Sales Update - June 18, 2010



Wow! $534/sq. ft. for 1BR condos in Hoboken!

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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

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www.hudsoncountypropertiesnow.com

Pending Sales Slip for Hoboken and Downtown Jersey City This Week - Hoboken/Downtown Jersey City - June 18, 2010





Pending Sales for Hoboken June 18, 2010:

198 dabos vs. 216 last week (8.4% decrease)


Pending Sales for downtown Jersey City June 18, 2010:

115 dabos vs. 122 last week (5.8% decrease)



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Absorption Rates Stable This Week - Hoboken/Downtown Jersey City Absorption Rate Update - June 18, 2010




Hoboken Absorption Rate Update 6/18/2010:

25.24 weeks vs. 25.52 weeks last week (.01% increase)


Downtown Jersey City Absorption Rate Update 6/18/2010:

46.88 weeks vs. 51.76 weeks last week (9.5% decrease)


Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Friday, June 11, 2010

Downtown Jersey City Sales Update - June 11, 2010




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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Lots of Sales This Past Week in Hoboken-Average Price Per Square Foot Rises to $509/Sq.Ft.



One Bedrooms averaged $509/sq. ft. for this week. Great numbers! Two bedrooms averaged a solid $441 sq. ft.

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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Hoboken/Downtown Jersey City Pending Sales Update - June 11, 2010





Pending Sales for Hoboken June 11, 2010:

216 dabos vs. 220 last week (1.2% decrease)


Pending Sales for downtown Jersey City June 11, 2010:

122 dabos vs. 116 last week (5.2% increase)



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Pearl of Wisdom - You Cannot Appeal Taxes on a Tax Abated Property.


I just called for a showing on a property with a 20 year tax abatement and a customer of mine noticed that the taxes were extremely high on the property. So, I called to check with the listing agent. I thought for sure that she was going to say that it was a typo. As it turns out, the property was originally sold for $620,000 under a tax abatement and you cannot appeal taxes on a tax abatement.

Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Hoboken/Downtown Jersey City Absorption Rate Update - 6/14/2010





Hoboken continues to buck the trend with its shrinking inventory again this week. Downtown Jersey City is holding its own with a modest 3.4% increase.

Just as a reference point, the absorption rate was approx 37 weeks in October '09, which clearly indicates that activity has increased.


Hoboken Absorption Rate Update 6/11/2010:

25.45 weeks vs. 28.01 weeks last week (9.2% decrease)


Downtown Jersey City Absorption Rate Update 6/11/2010:

51.76 weeks vs. 50.05 weeks last week (3.4% increase)


Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Sunday, June 6, 2010

Downtown Jersey City Sales Update - June 4, 2010



There are some great deals over at 700 Grove. $402/sq. ft. for a 2BR/2BA is a STEAL. It's actually a great building with lots of ammenities. Great buy!

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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

Average Price Per Square Rises For First Week in June - June 4, 2010



Average price per square foot has gone up $10.50 sq. ft. for 1BR and $6.50/sq. ft. for 2BR condos from last week!

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



Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com

It Keeps Going and Going and Going...Absorption Rate Update - 6/04/10




The decreases keep going and going and going....


Hoboken Absorption Rate Update 6/04/2010:

28.01 weeks vs. 28.17 weeks last week (.006% decrease)


Downtown Jersey City Absorption Rate Update 6/04/2010:

50.05 weeks vs. 51 weeks last week (.019% decrease)


Information provided by:

Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com

Search up for FREE local school reports and more at: www.hobokenjerseycity.com

Sign up for FREE market condition reports at:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com

Sign up for FREE listing updates:
www.hudsoncountypropertiesnow.com