Friday, July 22, 2011

Pending Sales Update-July 22, 2011



Pending Sales for Hoboken July 22, 2011:

155 dabos vs. 156 last week (.7% decrease)


Pending Sales for Downtown Jersey City July 22, 2011:

138 dabos vs. 146 last week (5.5% 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Absorption Rate Update-July 22, 2011




Inventories have dipped again this week to levels that we haven't seen in both Hoboken and downtown Jersey City in well over 18 months.

Properties are started to sell again, but only if they're priced correctly.

Hoboken Absorption Rate Update July 22, 2011:

22.49 weeks vs. 20.52 weeks last week (9.6% increase)


Downtown Jersey City Absorption Rate Update July 22, 2011:

26.79 weeks vs. 25.52 weeks last week (4.97% 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

Jersey City Sales Update-July 22, 2011



Please click on the link below if you can't view 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

Hoboken Sales Update-July 22, 2011



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

Monday, July 18, 2011

Carlo's Bakery-How Long is The Line? July 18, 2011



The line at Carlo's Bakery was approaching 400 people today. Yikes!

Let me know if you're interested in some tips to beat the line!

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

Sunday, July 17, 2011

Lower Inventories=Lower Sales=Hoboken/Downtown Jersey City Pending Sales Update-July 15, 2011



Lower inventories=lower pending sales

Pending Sales for Hoboken July `5, 2011:

156 dabos vs. 169 last week (7.7% decrease)


Pending Sales for Downtown Jersey City July 15, 2011:

146 dabos vs. 158 last week (7.6% 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Inventories Dip AGAIN for Hoboken and Downtown Jersey City-Hoboken/Downtown Jersey City Absorption Rate Update-July 15, 2011




Inventories have dipped again this week to levels that we haven't seen in both Hoboken and downtown Jersey City in well over 18 months.

Properties are started to sell again, but only if they're priced correctly.

Hoboken Absorption Rate Update July 15, 2011:

20.52 weeks vs. 21.83 weeks last week (6.1% decrease)


Downtown Jersey City Absorption Rate Update July 15, 2011:

25.52 weeks vs. 30.6 weeks last week (15.1% 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

Friday, July 15, 2011

Good Sales Week for Downtown Jersey City-Downtown Jersey City Sales Update-July 15, 2011



There were a total of 13 sales this week in downtown Jersey City.

1BR downtown condos didn't outsell 1BR Newport condos this week. There was a low $276/sq.ft. sale at 186 Wayne (Dixon Mills) that brought downtown sales below Newport.

On the two bedroom front, there was a strong sale at 20 2nd Street of $567/sq.ft. This was a top floor fully renovated unit with strong NYC views.

There was another $379/sq.ft. sale at 700 Grove this week, but low sales there seem to be the norm right now. Is it going to be the next Zephyr Lofts?

Please click on the link below if you can't view 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

Hoboken Sales Update-July 15, 2011



There were a total of 14 sales this week in Hoboken.

I'm going to start backwards and comment on the 3BR sale on 4th and Hudson for $673/sq.ft. It looks like an amazing property and was deserving of its sales price.

There were a total of 9 2BR sales this week with an average sales price of $463/sq.ft. There was a 2BR sale at 700 1st (Sky Club) that closed for a very low $376/sq.ft. and it wasn't a short sale. Great buy.

1015 Grand sold for $509/sq. ft. which is strange because it doesn't have a lot of living space, but has a large terrace. It goes to show what some people will pay for outdoor space.

There was just a single 1BR sale at Maxwell Place for $612/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

Saturday, July 9, 2011

Downtown Jersey City UP-Hoboken DOWN-Hoboken/Downtown Jersey City Pending Sales Update-July 8, 2011



In a reversal of fortune this week, downtown Jersey City increased pending sales this week, while Hoboken decreased by almost 6%. What's going on here?

Pending Sales for Hoboken July 8, 2011:

159 dabos vs. 169 last week (6% decrease)


Pending Sales for Downtown Jersey City July 8, 2011:

158 dabos vs. 155 last week (1.9% 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

Inventories are LOW-Hoboken and Downtown Jersey City Absorption Rate Update-July 8, 2011




Hoboken and downtown Jersey City are both experiencing very low levels of inventory right now which is helping to keep pricing stable for the moment.

Hoboken Absorption Rate Update July 8, 2011:

21.83 weeks vs. 22.33 weeks last week (2.2% decrease)


Downtown Jersey City Absorption Rate Update July 8, 2011:

30.6 weeks vs. 30.44 weeks last week (.005% 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 Beats Newport Area in 1BR Sales This Week-Downtown Jersey City Sales Update-July 8, 2011



There were a total of 9 sales this week in downtown Jersey City. Not as good as last week, but there are some highlights.

CORRECTION-

I accidentally included at sale at Hamilton Square (25 McWilliams) last week as a Newport property. This made downtown beat the Newport area by an even larger margin!

For the first time in a long time, 1BR sales in downtown beat 1BR sales in Newport. Downtown averaged $475/sq.ft. while Newport only averaged $388/sq.ft. Newport was brought down because of a sale at 45 River Drive South. Although still a nice complex, it doesn't sell as high as some of the newer buildings in the area.

On the two bedroom front, there was an OK sale at 700 Grove for $413/sq.ft. and a very good sale at 217 Newark for $490/sq.ft.

Please click on the link below if you can't view 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

1BR and 2BR prices increase this week-Hoboken Sales Update July 8, 2011



There were a total of 18 sales this week in Hoboken.

1BR sales only averaged $476/sq.ft. with 662 Park selling for a surprising $517/sq.ft. It was slightly smaller at 553 sq.ft. which contributed to the higher sales price.

2BR sales also impoved this week with an average transaction price of $454/sq.ft. A 2BR at Hudson Tea sold for a lowish $518/sq.ft. and a unit at 350 7th Street sold for a very low $447/sq.ft.

There were only 2 sales this week in the 3BR market. I was happy to see that 415 Madison sold for $481/sq.ft. It's hard to gauge 3BR sales because there aren't that many.

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

Friday, July 1, 2011

Hoboken/Downtown Jersey City Stats Update-June 2011




Absorption Rate
I'm happy to report that inventories are down in Hoboken and downtown Jersey City again this month. We're down 18.6% for Hoboken to the lowest levels we've seen in over 21 month Downtown Jersey City decreased slightly to 44.49 weeks, a decrease of 1.7%.

Pending Sales
Pending sales decreased 9% this month and I suspect it's because there's not a lot of good inventory on the market. Downtown Jersey City increased by 19.7% this month and I think it's because buyers are finally snatching up some of the great deals out there.

Transactions
Total transactions for Hoboken increased 19.7%. Downtown Jersey City increased by 80%.

Price Per Square Foot-Hoboken
Price per square foot prices for 1BR in Hoboken decreased 3.4% to 462.95/sq.ft. There were a lot of cheap short sales out there that brought 1BR prices down.

2BR prices increased by 5.17% this month. 2BR sales are always very popular in Hoboken.

3BR prices are also down 11.1% this month, but there weren't that many units that sold, so evaluate pricing for these units on a case-by-case basis if you're looking to buy.

Price Per Square Foot-Newport
1BR prices in the Newport area dipped 3.2%, lead mostly by cheaper sales at 45 River Drive South.

2BR prices are down 23.2% from last month. This decline was lead by low sales at 700Grove. Price here just keep falling.

Price Per Square Foot-Downtown
1BR prices are down 9.7% from May. With the increased activity in this area, I expect this to increase in the upcoming months.

2BR prices are also down 12.6% from April.

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

Great Sales Week for Downtown Jersey City-June 30, 2011



There were a total of 18 sales this week in downtown Jersey City.

1BR sales in the Newport area continued their success this week with an average sales price of $521/sq.ft.

1BR sales in the downtown area also performed well this week with an average sales price of $465/sq.ft.

We had six 2BR sales in the downtown area, which is more than we've had in a long time. Average prices were solid at $427/sq.ft.

There was a great deal at 159 2nd Street this week. 1581 sq.ft. 3BR/2BA sold for $392/sq.ft.

Please click on the link below if you can't view 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

22 Sales in Hoboken This Week-Hoboken Sales Update-July 1, 2011



There were a total of 22 sales this week in Hoboken.

Transaction prices were a little lower all across the board this week.

1BR sales only averaged $407/sq.ft. There was a very low sale at 800 Jackson(Metrostop) at $410/sq.ft. I just met someone today who purchased a similar unit with parking for about $537/sq.ft. OUCH!

There were a couple of very low sales on the 2BR front as well. 736 Garden sold for a very low $323/sq.ft, but it was a basement apartment.

610 Monroe sold for $310/sq.ft, but it's 6th and Monroe.

It's interesting to note that a 3BR at 9th and Jefferson sold for $40,000 over asking price. It might be a great time to list your 3BR condo if you're thinking of selling.

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 Slip Again-Is There a Lack of Properties? Hoboken/Downtown Jersey City Pending Sales Update-July 1, 2011



Pending sales slipped again this week for both Hoboken and downtown Jersey City this week.

Could it be the lack of inventory is keeping buyers on the sidelines?

Pending Sales for Hoboken July 1, 2011:

169 dabos vs. 177 last week (4.5% decrease)


Pending Sales for Downtown Jersey City July 1, 2011:

155 dabos vs. 163 last week (4.1% 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 Hoboken listings:
www.viewhobokenhomes.com

Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com

Absorption Rate Drops 23.9% for Downtown Jersey City This Week!-Hoboken/Downtown Jersey City Absorption Rate Update-July 1, 2011




Hoboken was essentially flat this week again and still doing well at 22.33 weeks. Inventory is LOW right now at 407 units. It should be over 600 units right now.

Downtown Jersey City decreased by an impressive 23.9% this week. Inventory is also LOW at 316 units. It should be in the 450 range at this time of the year.

Hoboken Absorption Rate Update July 1, 2011:

22.33 weeks vs. 22.85 weeks last week (.028% decrease)


Downtown Jersey City Absorption Rate Update July 1, 2011:

30.44 weeks vs. 39.98 weeks last week (23.9% 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