Friday, December 28, 2012

Hoboken/Downtown Jersey City Pending Sales Update-December 28, 2012




Pending Sales for Hoboken-December 28, 2012:
145 dabos vs. 153 last week (5.2% decrease)


Pending Sales for Downtown Jersey City-December 28, 2012:
148 dabos vs. 149 last week (.7% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Absorption Rate Update-December 28, 2012






Inventories in Hoboken decreased this week by 8 to 124 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 2 units to 112 this week. This number also includes condos/coops and 1 to 4 family properties.  The drop from last week seems strange, but I can't figure out what happened.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market


Hoboken Absorption Rate Update-December 28, 2012
8.14 weeks vs. 10.84 weeks last week (25% decrease)

Downtown Jersey City Absorption Rate Update-December 28, 2012
10.33 weeks vs. 9.87 weeks last week (4.67% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Downtown Jersey City Sales Update-December 28, 2012




There were 10 sales in the downtown Jersey City area this week.

There were two sales this week that sold at or above asking price.

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

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-December 28, 2012



There were 16 sales this week.

One property sold at asking 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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Saturday, December 22, 2012

Hoboken/Downtown Jersey City Pending Sales Update-December 21, 2012




Pending Sales for Hoboken-December 21, 2012:
153 dabos vs. 157 last week (2.5% decrease)


Pending Sales for Downtown Jersey City-December 21, 2012:
149 dabos vs. 156 last week (4.5% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Real Estate Absorption Rate Update-December 21, 2012






Inventories in Hoboken increased this week by 5 to 140 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 3 units to 123 this week. This number also includes condos/coops and 1 to 4 family properties.  The drop from last week seems strange, but I can't figure out what happened.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market


Hoboken Absorption Rate Update-December 21, 2012
10.84 weeks vs. 9.14 weeks last week (18.59% increase)

Downtown Jersey City Absorption Rate Update-December 21, 2012
9.87 weeks vs. 4.55 weeks last week (216.92% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Downtown Jersey City Sales Update-December 21, 2012




There were 16 sales in the downtown Jersey City area this week.

There were just two sales this week that sold at or above asking price.

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

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-December 21, 2012



There were 13 sales this week.

One property sold above asking 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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, December 14, 2012

Hoboken/Downtown Jersey City Pending Sales Update-December 14, 2012




Pending Sales for Hoboken-December 14, 2012:
157 dabos vs. 164 last week (4.3% decrease)


Pending Sales for Downtown Jersey City-December 14, 2012:
156 dabos vs. 153 last week (1.96% increase)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Absorption Rate Update-December 14, 2012






Inventories in Hoboken decreased this week by 5 to 135 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 63 units to 126 this week. This number also includes condos/coops and 1 to 4 family properties.  The drop from last week seems strange, but I can't figure out what happened.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market


Hoboken Absorption Rate Update-December 14, 2012
9.14 weeks vs. 11.45 weeks last week (20.2% decrease)

Downtown Jersey City Absorption Rate Update-December 14, 2012
8.95 weeks vs. 4.55 weeks last week (96.7% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Downtown Jersey City Sales Update-December 14, 2012




There were 10 sales in the downtown Jersey City area this week.

There were three sales this week that sold at or above asking price.

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

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-December 14, 2012



There were 19 sales this week.

Three properties sold at or above asking 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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, December 7, 2012

Hoboken/Downtown Jersey City Pending Sales Update-December 7, 2012




Pending Sales for Hoboken-December 7, 2012:
164 dabos vs. 173 last week (5.2% decrease)


Pending Sales for Downtown Jersey City-December 7, 2012:
153 dabos vs. 171 last week (10.5% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Rates Plummet This Week-Hoboken/Downtown Jersey City Absorption Rate Update-December 7, 2012






Inventories in Hoboken decreased this week by 8 to 140 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 51 units to 63 this week. This number also includes condos/coops and 1 to 4 family properties.  This doesn't seem right, but I triple checked the number.  I'll check next week to see if this was a mistake.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-December 7, 2012
11.45 weeks vs. 18.85 weeks last week (39.3% decrease)

Downtown Jersey City Absorption Rate Update-December 7, 2012
4.55 weeks vs. 11.23 weeks last week (59.5% decrease)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

A Unit at 389 Washington Sells for $142,500 More Than Previous Sale-Downtown Jersey City Sales Update-December 7, 2012




There were 18 sales in the downtown Jersey City area this week.

Just to see how things have changed in the area....I sold a similar unit at 389 Washington a little over a year ago $142,500 less than what was just paid.  Amazing.

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

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-88 Clinton Sells $16,000 Over Asking Price-December 7, 2012



There were 26 sales this week.

2 BR condos continue to hover around the $500/sq.ft. range.

Six properties sold at or above asking price, with 88 Clinton selling $16,000 over asking 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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Thursday, December 6, 2012

Prices Rise in All Markets-Hoboken/Downtown Jersey City Stats Update-December 6, 2012


Prices continue to rise in both the Hoboken and downtown Jersey City markets in November.

1, 2 and 3 bedroom condos in Hoboken averaged over $500 sq. ft. this month. which is the first time I have seen this in over three years.

1 and 2 bedroom condos in the Newport area averaged over $550/sq.ft.

1 and 2 bedroom condos in the downtown area averaged over $440/sq.ft.

Prices are on the rise and should continue to strengthen as new properties hit the market for sale in January.


Absorption Rate
As inventory started to ease up this month, we've seen the absorption rates for Hoboken and downtown Jersey City area increase to more normal levels.

When compared to levels for previous years (I've now added 2009 data) you can see that the rates are still significantly lower than over the past 3 years.


Pending Sales
Pending sales were basically flay this month with Hoboken increasing a mere .14% and downtown Jersey City decreasing 4.29%.  Still healthy numbers here.

Transactions
Transactions were down 18.18% for Hoboken this month.  This may have been cause be storm delays and isn't even really significant drop. When compared to the previous years, transactions are up significantly.

Price Per Square Foot-Hoboken
1 bedroom prices increased 4.64% and are up 13.58% when compared to this same period last year.

2 bedroom prices increased 6.37% and are up 9.82% over last year.

3 bedroom prices are up 15.53% and are up 12.87% when compared to the same period last year.

Compared to 2010 levels:

1 bedroom prices are up 6.33%

2 bedroom prices are up 16.03%

3 bedroom prices are up 34.95%


Price Per Square Foot-Newport
1 bedroom prices decreased 7.29% and are up 5.37% when compared to the same period last year.

2 bedroom prices increased 2.09% and are up 39.63% when compared to last year.

Compared to 2010 levels:

1 bedroom prices are up 20.58%

2 bedroom prices are up 41.86%


Price Per Square Foot-Downtown

1 bedroom prices increased 14.82% and are also up 16.06% over the same period last year.

2 bedroom prices are up 13.75% and are up .61% over the same period last year.

3 bedroom prices are up 14.82% and are up 16.06% over the same period last year.

Compared to 2010 levels:

1 bedroom prices are up 12.27%

2 bedroom prices are up 19.3%

3 bedroom prices are down 25.83%


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, November 30, 2012

Hoboken/Downtown Jersey City Pending Sales Update-November 30, 2012




Pending Sales for Hoboken-November 30, 2012:
173 dabos vs. 181 last week (4.6% decrease)


Pending Sales for Downtown Jersey City-November 30, 2012:
171 dabos vs. 185 last week (7.6% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Absorption Rate Update-November 30, 2012






Inventories in Hoboken increased this week by 3 to 148 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 5 units to 114 this week. This number also includes condos/coops and 1 to 4 family properties.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-November 30, 2012
18.85 weeks vs. 20.28 weeks last week (7% decrease)

Downtown Jersey City Absorption Rate Update-November 30, 2012
11.23 weeks vs. 14.32 weeks last week (21.6% decrease)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Downtown Jersey City Sales Update-November 30, 2012




There were 17 sales this week in downtown Jersey City.

There were 4 properties that sold at asking price this week.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-November 30, 2012



There were 14 sales this week.

Six properties sold for at or above list price this week, which is great.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Saturday, November 24, 2012

Hoboken/Downtown Jersey City Pending Sales Update-November 23, 2012



Pending Sales for Hoboken-November 23, 2012:
181 dabos vs. 189 last week (4.2% decrease)


Pending Sales for Downtown Jersey City-November 23, 2012:
185 dabos vs. 197 last week (6.1% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Absorption Rate Update-November 23, 2012






Inventories in Hoboken had no change this week at 145 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 7 units to 119 this week. This number also includes condos/coops and 1 to 4 family properties.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-November 23, 2012
20.28 weeks vs. 17.45 weeks last week (16.21% increase)

Downtown Jersey City Absorption Rate Update-November 23, 2012
14.32 weeks vs. 15.17 weeks last week (5.6% decrease)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

16 Sales This Week-Downtown Jersey City Sales Update-November 23, 2012




There were 16 sales this week in downtown Jersey City.

2 BR downtown sales did very well this week with an average sales price of $492/sq.ft.  A $707/sq.ft. sale at 77 Hudson led the sales this week.

2 BR Newport sales also did well this week with a single sale at The Shore (20 Newport Parkway) that sold very well at $588/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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-November 23, 2012



13 closings this week, which isn't bad considering it was Thanksgiving week.

839 Garden Street was on the market at the end of 2010 and failed to sell at $1,495,000.

The property just sold for $1,650,000 which was $55,000 over asking 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
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Saturday, November 17, 2012

Hoboken/Downtown Jersey City Pending Sales Update-November 16, 2012



Pending sales have dropped so much due to the storm.  Many buyers are holding off on their purchases until they see how the buildings are repaired after the storm.

For most of the buildings in town, the damage is centered on the lobby and garage areas.

Typically these repair aren't significant and will be repaired in the upcoming weeks.

Pending Sales for Hoboken-November 16, 2012:
189 dabos vs. 164 last week (15.24% increase)


Pending Sales for Downtown Jersey City-November 16, 2012:
197 dabos vs. 178 last week (10.67% increase)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Update-November 9, 2012






Inventories in Hoboken increased 3 units to 145 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 5 units to 112 this week. This number also includes condos/coops and 1 to 4 family properties.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-November 16, 2012
17.45 weeks vs. 14.01 weeks last week (24.55% increase)

Downtown Jersey City Absorption Rate Update-November 16, 2012
15.17 weeks vs. 18.23 weeks last week (16.8% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Downtown Jersey City Sales Update-November 16, 2012




There were 11 sales in downtown Jersey City this week.

It seems like sales are getting back to normal.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-November 16, 2012



Another improvement this week with 15 closings.


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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Sunday, November 11, 2012

Hoboken/Downtown Jersey City Pending Sales Update-November 9, 2012



Pending sales have dropped so much due to the storm.  Many buyers are holding off on their purchases until they see how the buildings are repaired after the storm.

For most of the buildings in town, the damage is centered on the lobby and garage areas.

Typically these repair aren't significant and will be repaired in the upcoming weeks.

Pending Sales for Hoboken-November 9, 2012:
164 dabos vs. 183 last week (10.4% decrease)


Pending Sales for Downtown Jersey City-November 9, 2012:
178 dabos vs. 201 last week (11.4% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Absorption Rate Update-November 9, 2012






Inventories in Hoboken dropped 10 units to 142 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 15 units to 107 this week. This number also includes condos/coops and 1 to 4 family properties.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-November 9, 2012
14.10 weeks vs. 14.01 weeks last week (.6% increase)

Downtown Jersey City Absorption Rate Update-November 9, 2012
17.17 weeks vs. 18.23 weeks last week (5.8% decrease)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Unit at 187 Warren Sells for $20K Over Asking in 5 Days-Downtown Jersey City Sales Update





There was a fierce bidding war at 187 Warren Street.  It sold for $20,000 over asking price and it was only on the market for 5 days.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken Sales Update-November 9, 2012



Progress is a little better this week with six closings.


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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Wednesday, November 7, 2012

Hoboken/Downtown Jersey City Stats Update-October, 2012




Absorption Rate
The absorption rate crept up to 9.74 weeks for Hoboken in October, which is still incredibly low while the rate for downtown Jersey City actually decreased by 21.2% to 13.15 weeks.

When compared to 2011 rates, the absorption rate is down 67% for Hoboken and 71% for downtown Jersey City.


Pending Sales
Pending sales dropped 11.6% in Hoboken and increased again in downtown Jersey City by 9.71%

When compared to 2011 figures, pending sales are up 49.1% for Hoboken and 77.1% for Jersey City.


Transactions
Transactions are down 12.7% in Hoboken over last month and flat last month for Jersey City.

Hoboken transactions are up 37.5% over the same period last year and Jersey City transactions are up 63.7% when compared to September, 2011 figures.


Price Per Square Foot-Hoboken
1 bedroom prices increased 4.87% and are up 1.1% when compared to this same period last year.

2 bedroom prices decreased just .8% and are up 3.82% over last year.

3 bedroom prices are down 2.3% and are up 11.63% when compared to the same period last year.

Compared to 2010 levels:

1 bedroom prices are down 10.45%

2 bedroom prices are up 4.2%

3 bedroom prices are up 23.8%


Price Per Square Foot-Newport
1 bedroom prices decreased -.2% and are up 34.8% when compared to the same period last year.

2 bedroom prices increased 7.37% and are up22.6% when compared to last year.

Compared to 2010 levels:

1 bedroom prices are up 13.76%

2 bedroom prices are up 61.12%


Price Per Square Foot-Downtown

1 bedroom prices decreased 2.1% and are also up 8.9% over the same period last year.

2 bedroom prices decreased 13.8% and are up 10.7% over the same period last year.

Compared to 2010 levels:

1 bedroom prices are up 1.6%

2 bedroom prices are up 5.37%


Conclusion
Downtown Jersey City showed some steady improvements and actually outpaced Hoboken in pending sales, which doesn't happen very often.

Prices saw steady increases over both 2011 and 2010 levels which indicates broad increases in the local housing market.

There may a backlog of new inventory as buildings rebuild after the storm.  Many of the area buildings sustained garage and lobby damage which should be fairly easy to repair.



Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Hurricane Sandy and Kindness-November 7, 2012




I witnessed great devastation from Sandy, both in Hoboken and on Long Island.

I have been most amazed by people's kindness over the last several days.

From strangers helping strangers clean up their houses, to the residents on Hudson Street that offered phone charging stations and coffee when they were practically the only houses in town with power.

I hope people remember the kindness that was given to them and don't forget to pay it forward.

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, November 2, 2012

Hoboken/Downtown Jersey City Pending Sales Update-November 2, 2012



Pending Sales for Hoboken-November 2, 2012:
183 dabos vs. 184 last week (.5% decrease)


Pending Sales for Downtown Jersey City-November 2, 2012:
201 dabos vs. 199 last week (1% increase)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Hoboken/Downtown Jersey City Pending Sales Update-November 2, 2012






Inventories in Hoboken dropped 7 units to 152 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 3 units to 122 this week. This number also includes condos/coops and 1 to 4 family properties.

The only reason absorption rates increased was because there were so few sales this week due to the storm.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-November 2, 2012
14.01 weeks vs. 10.13 weeks last week (38.3% increase)

Downtown Jersey City Absorption Rate Update-November 2, 2012
18.23 weeks vs. 12.9 weeks last week (41.32% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Just 1 Sale This Week-Downtown Jersey City Sales Update-November 2, 2012




There is just one sale on the books this week.

All current deals on the table will have to be reviewed by an appraiser to make sure there hasn't been any significant damage before they will be cleared to close.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, October 26, 2012

Hoboken Pending Sales Increase Even With Dwindling Inventory-Hoboken/Downtown Jersey City Sales Update-October 26, 2012



Pending Sales for Hoboken-October 26, 2012:
184 dabos vs. 180 last week (2.22% increase)


Pending Sales for Downtown Jersey City-October 26, 2012:
199 dabos vs. 201 last week (1% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Inventories Remain Extremely Low-Hoboken/Downtown Jersey City Absorption Rate Update-October 26, 2012






Inventories in Hoboken dropped 2 units to 159 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 16 units to 125 this week. This number also includes condos/coops and 1 to 4 family properties.

I have never seen inventories so low.

4-16 weeks of inventory = Seller’s market
20-24 weeks of inventory = Neutral market
24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-October 26, 2012
10.13 weeks vs. 9.89 weeks last week (2.43% increase)

Downtown Jersey City Absorption Rate Update-October 26, 2012
12.9 weeks vs. 12.33 weeks last week (4.62% increase)

Information provided by:

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

Search Hoboken listings: http://www.viewhobokenhomes.com/

Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Crystal Point 1 BR Sells for $679/Sq. Ft.-Downtown Jersey City Sales Update-October 26, 2012




There were just 7 sales this week in downtown Jersey City this week.

There was a 1 BR resale at Crystal Point that sold well at $679/sq.ft. The units there are very nice, but there are priced much higher than the buildings in the neighborhood (Portofino, Mandalay, The A, etc.)

The sole 2 BR sale in the Newport are was lower than usual at $514/sq.ft. but the unit didn't have a city view.

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


Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC