Hoboken and Downtown Jersey City Stats Update-October, 2010

The absorption rate increased this month in Hoboken by 17.51% to 44.23 weeks which has pushed it above what I consider a normal inventory range. Surprisingly, the rate for downtown Jersey City decreased by 2.94% to 66.92 weeks which is still very high.

Pending sales dipped slightly for Hoboken and increased by 7.21% for downtown Jersey City this month which is good because things are very slow in downtown Jersey City right now.

Hoboken's price per square foot price for studios increased by 8.08% this month and one bedroom sale prices decreased by 7.74% which was brought down by some extremely low sales in the sub-$300/sq.ft. range.

Two bedroom sales were up 5.58% this week.

In the Newport area of downtown Jersey City price per square foot prices for 1 bedroom sales were up by 8.63% and while 2 bedroom sales dropped by 19.43%

Downtown Jersey City price per square foot prices decreased for 1 and 2 bedroom condos by 4.21% and 8.79%, respectively.


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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Nice Price Per Sq. Ft. Sales This Week in Downtown Jersey City-Downtown Jersey City Sales Update-October 29, 2010

There was 1 one bedroom sale in both downtown and Newport this week and they both had nice sales prices. 200 6th, which was newly renovated sold for $461/sq. ft. at 575 sq.ft. and 65 2nd St. sold for $487/sq.ft at 759 sq. ft.

There was a 1700 sq. ft. condo at The Waldo Lofts that sold for a very $346/sq.ft. at 1700 sq. ft. Those are great lofts and I thought that would have sold a bit higher.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Sales Update-October 29, 2010

We had just 2 one bedroom sales this week. A 705 Sq. Ft. 1BR/1BA at The Upper Grand sold for $566 sq. ft. which is high for a bedroom. The market always responds favorably to units in this complex-nice layouts with high ceilings definitely help.

There were 9 two bedroom sales this week with an average sale price of $431/sq.ft. which is good. There was a unit at 551 Observer that sold for $344/sq.ft. Prices have tumbled in this building due to the extremely high maintenance fees.

There were 2 three bedroom sales this week. The listing at 502 Observer Hwy sold for $241/sq.ft., but the unit was 3625 sq. ft.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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 and Downtown Jersey City Holding Steady-Hoboken/Downtown Jersey City Pending Sales Update---October 29, 2010

Pending sales for both Hoboken and downtown Jersey City remained relatively stable this week. Typically, sales tend to slow as we approach the Thanksgiving and will be in a bit of a holding pattern until after the New Year.

We'll see how things shake out over the next few weeks.


Pending Sales for Hoboken October 29, 2010:

134 dabos vs. 138 last week (2.9% decrease)


Pending Sales for downtown Jersey City October 29, 2010:

101 dabos vs. 102 last week (.8% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Decreases...Downtown Jersey City Increases-Hoboken/Downtown Jersey City Absorption Rate Update----------October 29, 2010

Another week of opposites as the absorption rate for Hoboken decreases by 11.7% while the absorption rate for downtown Jersey City increases by 11.96%.


Hoboken Absorption Rate Update October 29, 2010:

41.17 weeks vs. 46.60 weeks last week (11.7% decrease)

Downtown Jersey City Absorption Rate Update October 29, 2010
75.91 weeks vs. 67.80 weeks last week (11.96% increase)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Slow Sales Week in Downtown Again-Downtown Jersey City-October 22, 2010

Still another light week in downtown Jersey City this week.

There was a notable sale at 700 Grove that just closed at $337/sq.ft. foot this week for a 1471 sq. ft. 2BR/2BA with terrace. At the peak of the market, these units sold for over $440/sq.ft.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Sales Chug Along This Week-October 22, 2010

One bedroom sales were a bit soft again this week, with a 976 sq.ft. 1 BR selling at 901 Madison for $415/sq.ft. That's actually a nice building a it looks like a nice unit. I think it sold a little low actually. Overall sales averaged $438/sq.ft. which is a bit off of our recent averages.

Two bedrooms are off a little at $406/sq.ft. this week as well. There was a low sale at 921 Willow at $327/sq.ft.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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

Increases for Hoboken and Downtown Jersey City-Pending Sales Update---October 22, 2010

We had a small increase of 3.8% in pending sales for Hoboken this week as things continue to move along in this market segment.

Pending sales for Downtown Jersey City increased by a healthy 8.5% this past week as buyers start to snap up some of the great deals that are out there right now.

It's a great buyer's market right now.


Pending Sales for Hoboken October 22, 2010:

138 dabos vs. 133 last week (3.8% increase)


Pending Sales for downtown Jersey City October 22, 2010:

102 dabos vs. 94 last week (8.5% increase)
Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Flat...Downtown Jersey City Increases...Again-Hoboken/ Downtown Jersey City Absorption Rate Update-October 22, 2010

The absorption rate reminated flat for Hoboken this week which is the first time I can remember that happening.

Downtown Jersey City increased 7.7% which give additional support to conversations among my fellow realtors that things have slowed in downtown Jersey City right now.


Hoboken Absorption Rate Update October 22, 2010:

46.60 weeks vs. 46.60 weeks last week (no change)

Downtown Jersey City Absorption Rate Update October 22, 2010)
67.80 weeks vs. 62.93 weeks last week (7.7% increase)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Great Deals in Downtown Jersey City Right Now-Downtown Jersey City Sales Udpate-October 15, 2010

We've had more sales activity in downtown Jersey City this week....FINALLY! I was starting to get worried there for a minute.

There was a 568 sq. ft. studio that sold for a very impressive $496/sq.ft. ($282,000)at 45 River Drive South. That's a strong sales price for a studio in the Newport area.

On the flip side, there was a 945 sq. ft. 1 BR that sold at 140 Bay Street for a very low $321/sq.ft. ($303,500) and a 2266 sq. ft. at 299 Pavonia that sold for $306/sq.ft. ($690,000).

There are some great deals in Jersy City right now.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Sales Update-October 15, 2010

There were several lower priced 1 bedroom sales this week which pulled the average per square foot sale price down to $405/sq.ft. There were two units at 807-809 Garden that sold for $299/sq.ft. But, these count toward the average per square foot sales price for the week.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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

Downward Spiral Continues for Pending Sales in Hoboken and Downtown Jersey City-October 15, 2010

Pending sales have slipped again this week for both Hoboken and Jersey City. I find this a bit odd that with a strong inventory and extremely low mortgage rates that more buyers are not snapping up some of the great deals out there right now.


Pending Sales for Hoboken October 15, 2010:

133 dabos vs. 138 last week (3.7% decrease)


Pending Sales for downtown Jersey City October 15, 2010:

94 dabos vs. 97 last week (3.1% decrease)
Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

The Calm After The Storm-Absorption Rates Stabilize for Hoboken and Downtown Jersey City-October, 15, 2010

We've seen a stabilization in the absorption rates for both Hoboken and downtown Jersey City, which is very welcome after the wild ride that we had last week.

The rate for downtown Jersey City is still slow, which is evidenced by the lack of weekly sales in that area.

Hoboken Absorption Rate Update October 15, 2010:

42.53 weeks vs. 46.60 weeks last week (8.3% decrease)


Downtown Jersey City Absorption Rate Update October 15, 2010:

61.02 weeks vs. 62.93 weeks last week (3% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Downtown Jersey City Sales Update-October 8, 2010

It was a very slow sales week in downtown Jersey City last week. There was just one sale.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Sales Update-October 8, 2010

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



Information provided by:

Kevin Dowd
Broker Salesperson
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-October 8, 2010

It's nice to see that pending sales have finally increased for downtown Jersey City!


Pending Sales for Hoboken October 8, 2010:

138 dabos vs. 145 last week (4.8% decrease)


Pending Sales for downtown Jersey City October 8, 2010:

97 dabos vs. 88 last week (10.2% increase)


Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken/Downtown Jersey City Absorption Rate Update-October 8, 2010

Hoboken Absorption Rate Update October 8, 2010:

46.60 weeks vs. 47.93 weeks last week (38.5% increase)


Downtown Jersey City Absorption Rate Update October 8, 2010:

62.93 weeks vs. 54.63 weeks last week (32.5% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Looking Very Good-Stats Update-September, 2010

The absorption rate for Hoboken is down 15.8% this month at 37.64 weeks. Downtown Jersey City is way up at 68.24 weeks. Properties are still lingering around downtown Jersey City as buyer focus on location and make purchases in what is perceived as a safer buy in Hoboken.

Price per square foot for Hoboken and downtown Jersey City was changed very little except for 2BR Newport sales which were brought down by low sales Trump and 700 Grove.

Pending sales continue their downward slide that we've seen since June, but what's interesting is that price per square foot prices have not declined in conjunction with this few sales.

So, what does all of this mean? It means that there are buyers, although fewer than over the summer, that are out there snatching up great values and this is keeping prices stable.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Great Deals in Downtown Jersey City This Week-Downtown Jersey City Sales Update-October 1, 2010

There were just two very low sales for 2BR in Newport this week. There was a 2BR at 700 Grove that sold for a paltry $376/sq.ft. and a short sale at 88 Morgan (Trump that closed for $466/sq.ft. These unit were selling at their peak for $650+/sq.ft.

There was a very nice 2BR downton sale on Barrow street in a converted firehouse for $356/sq.ft. It was a bank owned property which is why it was priced so low. I think that we're going to see a lot more bank owned properties come on the market in the near future as banks are now going through the foreclosure process and taking posssession of more and more properties.

There was also a great single family sale on 6th and Erie that sold for $697,000. I've walked by this property many times and it looks like a nice property.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Sales Update-October 1, 2010

Only two 1 BR sales this week in Hoboken. There was a 1BR that sold at The Huntington that sold for a respectable $480/sq. ft.

Two bedrooms averaged $426/sq.ft. this week, which is slightly higher than last week. There was a nice 2BR at 82 Clinton that sold for a very low $454/sq.ft. These units at one time were selling on the $530-$550/sq.ft. range.

Three bedroom condos average an unremarkable $404/sq.ft.

There was a very nice 3 family on 3rd and Park for $975,000. That was a great buy for a nice wide 3 family so close to the PATH.

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



Information provided by:

Kevin Dowd
Broker Salesperson
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 Up! Downtown Jersey City Up!-Hoboken/Downtown Jersey City Pending Sales Update-October 1, 2010

Hoboken turned around its 2.2% decrease with a healthy 10.7% increase this week. What's important here is that a number of %600,000+ properties went under contract. This section of the market has been a bit lagging over the last several weeks as upscale and trade-up buyers have been a bit skittiish with the market being so volatile.

Downtown Jersey City also reversed its 7.8% decrease last week with a solid 6% increase in pending sales this week. What's interesting here is that most of the properties under contract last week were under $400K. I feel that buyers in downtown Jersey City are still a bit on the fence. There was a great property that went under contract at 296 Grand, but that property was deeply discounted.

As I say every week, there are some great deals in downtown Jersey City right now!

Pending Sales for Hoboken October 1, 2010:

145 dabos vs. 131 last week (10.7% increase)


Pending Sales for downtown Jersey City October 1, 2010:

88 dabos vs. 83 last week (6% decrease)


Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com

Hoboken Way Up....Downtown Jersey City Way Down-Absorption Rate Update-October 1, 2010

We had a reversal of fortunes this week as the Hoboken absorption rate increased by 38.5% and the Downtown Jersey City rate dropped by 32.5%. Hoboken had been very steady for the last several weeks and downtown Jersey City had been way too high at 70+ weeks, so I'm glad to see that decrease.

There have been some great properties in downtown Jersey City that have been lingering on the market that finally went under contract this week.

There was a unit at 296 Grand that went under contract that's been on and off the market for months. I've seen the units in this building and they're beautiful.

In Hoboken, we had a big jump from last week, but I'm not sure if this was just an anomaly. We'll have to see what happens next week. There were 4 contracts at 313 Grand that just went under contract this week. The units there have great finishes.

Hoboken Absorption Rate Update October 1, 2010:

47.93 weeks vs. 34.60 weeks last week (38.5% increase)


Downtown Jersey City Absorption Rate Update October 1, 2010:

54.63 weeks vs. 72.39 weeks last week (32.5% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
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.hudsoncountyhomesnow.com