Getting Stronger-Stats Update-March, 2011

Absorption Rate
The absorption rate for Hoboken actually increased 20.01% for March, but is down 10.7% from March 2010. The downtown Jersey City rate is down by 3.2%, but up 5.6% from March 2010


Pending Sales
Pending sales for March soared 22.6% for Hoboken and 15.82% for downtown Jersey City last month. This is great news and shows that the market is getting stronger.

Transactions
Total transactions increased 6.45% for Hoboken and 22% for downtown Jersey City. Can anyone say market recovery?

Price Per Square Foot-Hoboken
Price per square foot prices for 1BR and 2BR condos in Hoboken were only down 1.8% and 1.1% for March. 1BR prices were down 8.1 from March, 2010 and 2BR prices are actually up 3.5% from March, 2010.

3BR prices are up 17.2% for last month and up up 9.29% when compared to March, 2010. There are many more families that are staying in town which has been increasing the demand for good 3BR properties.

Price Per Square Foot-Newport
1BR prices have increased 12.3% over last month and 1.7% over the same period last year. 2BR prices have decreased 7.08% over last month and decreased by just .03% over the same period last year. Nice rebound for the Newport area.

Price Per Square Foot-Downtown
1BR prices increased 18.99% this month and increased 27.68% over the same period last year. There are a ton of first time buyers out there which would explain this increase. 2BR prices are down 13.6% and also down 10.3% over the same period last year. 3BR sales are down 27.9%and are down 25% over the same period last year. There's still some softness in the 2BR and 3BR markets, but will see how this plays out with all the new contracts that have entered the market this month.


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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Pending Sales Rage Again for Hoboken and Downtown Jersey City-Hoboken/Downtown Jersey City Pending Sales Update-March 25, 2011

Hoboken has broken through the 170 DABO/Pending Sales Barrier for the first time since July, 2010. Way to go!

Downtown Jersey City hasn't been at 124 DABOs/Pending Sales since April, 2010.

Keep on going!

Pending Sales for Hoboken March 25, 2011:

176 dabos vs. 154 last week (14.29% increase)


Pending Sales for Downtown Jersey City March 25, 2011:

124 dabos vs. 118 last week (5.08% 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Absorption Rates Drop for Hoboken and Downtown Jersey City-More Reductions Expected-Hoboken/Downtown Jersey City Absorption Rate Update-March 25, 2011

Hoboken dropped 4.7% this week but is still up from recent lows. This should start to decrease now that pending sales have started to increase.

Downtown Jersey City should start seeing reductions in its absorption rate as well.

Hoboken Absorption Rate Update March 25, 2011:

47.07 weeks vs. 49.38 weeks last week (4.7% decrease)

Downtown Jersey City Absorption Rate Update March 25, 2011:

57.19 weeks vs. 67.32 weeks last week (14% 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 listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Downtown Jersey City Fares Well This Week-Downtown Jersey City Sales Update-March 25, 2011

There were two 1BR sales in the Newport average that averaged over $550/sq.ft. this week. Further proof that prices are starting to firm up in the area.

There were three 1BR sales in the downtown area that averaged over $450/sq.ft. Very solid performance.

There was one 2BR sale in the Newport area at 700 Grove at $406/sq.ft.

2BR sales in the downtown area did well, with a short sales 389 York coming in at the bottom at $348/sq.ft.

There was only one 3BR sale at 108 Grand for $436/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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

So-so Sales Week in Hoboken-Hoboken Sales Update-March 25, 2011

Two sub-$400/sq.ft. sales in the 1BR market brought the average sale price down to $426/sq.ft. There was a 1BR sale at 456 9th Street that sold for $529/sq.ft.

In the 2BR market, the average sale price was $414/sq.ft. which was brought down by low sales at 56 Jefferson ($397/sq.ft.-not a good layout), 727 Monroe ($400/sq.ft.-not the most desirable area) and 800 Jackson ($394/sq.ft.-well, it's located at 800 Jackson!)

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



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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Pending Sales Breaking Through Barriers!-Hoboken/Downtown Jersey City Pending Sales Update-March 18, 2011

Pending sales (DABOs as realtors call them) have increased again this week.

Hoboken hasn't been over 150 DABOs since August, 2010 and downtown Jersey City hasn't been over 117 DABOs since November, 2010.

This is good news!

Pending Sales for Hoboken March 18, 2011:

154 dabos vs. 147 last week (4.76% increase)


Pending Sales for Downtown Jersey City March 18, 2011:

118 dabos vs. 116 last week (1.72% 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Absorption Rate Update-March 18, 2011

Downtown Jersey City has seen their absorption rate going up and down over the last several months, but Hoboken has been pretty stable until now.

Not sure why Hoboken bumped up so much this week...we'll have to see what happens next week.

Hoboken Absorption Rate Update March 18, 2011:

49.38 weeks vs. 41.43 weeks last week (19.19% increase)

Downtown Jersey City Absorption Rate Update March 18, 2011:

67.32 weeks vs. 62.45 weeks last week (7.8% 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 listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Downtown Jersey City Doing Well-Downtown Jersey City Sales Update-March 18, 2011

We had three 1BR sales in the downtown area that averaged a respectable $375/sq.ft. this week.

There was a 2BR sale in the Newport area at 700 Grove that only sold at $385/sq.ft. Units have been selling very low over there over the last 12 months.

We also had a downtown 2BR sale at 130 Coles for $396/sq.ft. and a 3BR sale at 25 Hudson for a lowish $535/sq.ft.

Overall, the market performed well last 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Things are Looking Good in Hoboken-Hoboken Sales Update-March 18, 2011

1BR averages were brought down this week by a sale at 535 Bloomfield. It was an unrenovated basement unit that sold for $354/sq.ft. There were also a sale at 309 Monroe for $399/sq.ft.

2BR sales continue their gains with an impressive $479/sq.ft. average this week. These were all good, solid sales. Way to go!

There was an interesting half-renovated single family that sold for just over a million. What a great opportunity for someone else to finish and make their own.

Things are looking very good right now in Hoboken

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



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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Downtown Jersey City-Good Sales Week!-Downtown Jersey City Sales Update-March 11, 2011

There was a 1BR that sold this week at 77 Hudson for $628/sq.ft. These are nice units, but I don't think they've been selling very well. They're in an area of town that's a bit more business and a little less residential.

There was also a nice 2BR sale at 389 Washington (The A) for $633 sq. ft. which is above where units have been selling in that area of town. It did have impressive NYC views which helps justify the higher than average price.

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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Pending Sales Up 13.07% for Hoboken and 20.83% for Downtown Jersey City! Wow! Pending Sales Update-March 11, 2011

Tremendous increases in pending sales this week for Hoboken and dowtown Jersey City! Who's says that the market is still slow around here! Not me!

As pending sales continue and inventory comes off the market at a faster price, sale prices will inevitable continue to increase.

Since January, pending sales have increased 26% for Hoboken and 27% for downtown Jersey City.

Pending Sales for Hoboken March 11, 2011:

147 dabos vs. 130 last week (13.07% increase)


Pending Sales for Downtown Jersey City March 11, 2011:

116 dabos vs. 96 last week (20.83%)

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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

What a difference a week makes! Hoboken/Downtown Jersey City Absorption Rate Update-March 11, 2011

What a difference a week makes. As the market is starting to heat up inventory is coming off the market at a faster pace and is helping drive down the absorption rates.

I can't say this enough...the market is heating up and now is the time to buy!

Hoboken Absorption Rate Update March 11, 2011:

41.43 weeks vs. 42.47 weeks last week (2.56% decrease)

Downtown Jersey City Absorption Rate Update March 11, 2011:

62.45 weeks vs. 75.27 weeks last week (18.1% 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 listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Lots of Great 2BR Deals This Week in Hoboken-Hoboken Sales Udpate-March 11, 2011

There were just two 1BR condo sales this week with an average price of $468/sq.ft. Not bad for just two sales.

There's more excitement on the 2BR side of things this week. We only averaged $405 sq.ft. this week which is way of the avergages from the last few weeks? Why did this happen? Well, there were some great deals out there namely 627 Willow for $356/sq.ft. and 1325 Adams for $396/sq.ft.

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



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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Downtown Jersey City Sales Flatline This Week-March 4, 2011

There were only 3 sales in the downtown area this week.

There was a 1BR that sold at 15 Warren (Pier House) for $423/sq.ft. This unit sold last for over $562/sq.ft. in 2005.

There was a 2BR at 50 Wayne that sold for a low $313/sq.ft. I believe this building was having some financial bankruptcy issues over the last 18 months. I've seen these units...that was a good deal.

There was also a 3BR all the back on Brunswick & Colgate that sold for $291/sq.ft. Large unit, but not for those that need to walk 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

Search Hoboken listings:
www.viewhobokenhomes.com

Search Hudson County listings:
www.hudsoncountyhomesnow.com

Strong Week For Hoboken Sales-Hoboken Sales Update-March 4, 2011

1BR sales were very solid at $492/sq.ft. which supports the word on the street that that market is getting stronger.

2BR sales were also solid at $477/sq.ft. with a surprising $561/sq.ft. sale

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



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 Hoboken listings:
www.viewhobokenhomes.com

Search Hudson County listings:
www.hudsoncountyhomesnow.com

Pending Sales Increase Again-Hoboken/Downtown Jersey City Sales Update-March 4, 2011

We've seen another increase in pending sales this week in Hoboken as the market continues to pick up.

Pending Sales for Hoboken February 25, 2011:
130 dabos vs. 124 last week (4.83% increase)


Pending Sales for Downtown Jersey City February 25, 2011:

96 dabos vs. 96 last week (no change)

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 Hoboken listing updates:
www.viewhobokenhomes.com

Sign up for FREE Hudson County listing updates:
www.hudsoncountyhomesnow.com

Hoboken is OK-Downtown Jersey City Still Struggling with Inventory-Hoboken/Downtown Jersey City Absorption Rate Update-March 4, 2011

Hoboken was up slightly this week, but still pretty solid at 42.47 weeks.

Downtown Jersey City has been struggling over the last few weeks and the rate is a little high there at 75.27 weeks.

Hoboken Absorption Rate Update March 4, 2011:

42.47 weeks vs. 40.12 weeks last week (5.8% increase)

Downtown Jersey City Absorption Rate Update March 4, 2011:

75.27 weeks vs. 71.34 weeks last week (5.5% 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

Sign up for FREE Hoboken listing updates:
www.viewhobokenhomes.com

Sign up for FREE Hudson County listing updates:
www.hudsoncountyhomesnow.com