Friday, April 27, 2012

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



Pending Sales for Hoboken-April 28, 2012:
197 dabos vs. 192 last week (2.6% increase)

Pending Sales for Downtown Jersey City-April 28, 2012:
173 dabos vs. 179 last week (4.4% 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:

http://www.viewhobokenhomes.com

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Where is The New Inventory-Hoboken/Downtown Jersey City Absorption Rate Update-April 28, 2012




Inventories in Hoboken dropped 32 units to 251 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased by 12 units to 245.

I can't remember the last time absorption rates were so low in downtown Jersey City.

Hoboken Absorption Rate Update-April 28, 2012
18.12 weeks vs. 19.16 weeks last week (5.4% decrease)

Downtown Jersey City Absorption Rate Update-April 28, 2012
22.11 weeks vs. 28.56 weeks last week (22.6% 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: http://www.viewhobokenhomes.com/


Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

22 Sales in Downtown Jersey City This Week-Amazing-Downtown Jersey City Sales Update-April 28, 2012



There were 22 sales this week in downtown Jersey City.

They actually outsold Hoboken this week.

There were 9 one bedroom sales in the downtown area this week which is great.  The average sale price was $520/sq.ft. which is even better.
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:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

13 Sales in Hoboken This Week-Hoboken Sales Update-April 28, 2012


There were a total of 13 sales this week.

Strangely, there was only a single one bedroom sale this week for $526/sq.ft.

Two bedrooms sold at an impressive $511/sq.ft. this week, bolstered by a stunning $1155/sq.ft. sale this week at 1125 Maxwell Lane.


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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, April 20, 2012

Hoboken/Downtown Jersey City Pending Sales Update-April 20, 2012




Pending Sales for Hoboken-April 20, 2012:
192 dabos vs. 184 last week (4.34% increase)

Pending Sales for Downtown Jersey City-April 20, 2012:
179 dabos vs. 182 last week (2.6% 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 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-April 20, 2012






Inventories in Hoboken decreased by 2 units to 283 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased by 6 units to 257.


Hoboken Absorption Rate Update-April 20, 2012

19.16 weeks vs. 21.29 weeks last week (10% decrease)


Downtown Jersey City Absorption Rate Update-April 20, 2012

28.56 weeks vs. 35.10 weeks last week (19.6% 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 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-April 20, 2012



There were a total of 16 sales in the downtown area this week.

We had solid averages for all areas 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
203 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

22 Sales This Week in Hoboken-Hoboken Sales Update-April 20, 2012


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

1 bedrooms condos sold at an impressive $490/sq.ft. which is quite a strong performance this week.    There were three sales that averaged over $500/sq.ft. this week.

There were 10 two bedroom sales this week with a lowish sales price of $431/sq.ft.  There was an extremely low sale at $277/sq.ft. that dragged down overall sales this week.

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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, April 13, 2012

Hoboken/Downtown Jersey City Pending Sales Update-April 13, 2012





Pending Sales for Hoboken-April 13, 2012:
184 dabos vs. 190 last week (3.2% decrease)

Pending Sales for Downtown Jersey City-April 13, 2012:
182 dabos vs. 173 last week (5.2% 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 listings:
http://www.viewhobokenhomes.com

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com

Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Inventory is Stable in Hoboken, Drops 14.86% in Downtown Jersey City-Hoboken/Downtown Jersey City Absorption Rate Update-April 13, 2012



Inventories in Hoboken increased 23 units to 285 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased by 3 units to 251.


Hoboken Absorption Rate Update-April 13, 2012

21.29 weeks vs. 21.42 weeks last week (.006% decrease)


Downtown Jersey City Absorption Rate Update-April 13, 2012

35.10 weeks vs. 30.56 weeks last week (14.86% 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: http://www.viewhobokenhomes.com/
Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/

 Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Slow Sales Week-Downtown Jersey City Sales Update-April 12, 2012




The rush of sales last week has tapered off this week, with only four sales in the downtown area.

There was another 2 bedroom sale in the downtown area that sold well at $413/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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Two Bedroom Sales Only Average $400/sq.ft.-Hoboken Sales Update-April 13. 2012



There were a total of 11 sales in Hoboken this week.

There was only 1 bedroom sale, but it closed at a strong $526/sq.ft.

2 bedroom sales were a little soft this week at an average sales price of $400/sq.ft.

3 bedroom sales were fairly strong this week at $446/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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, April 6, 2012

Hoboken/Downtown Jersey City Pending Sales Update-April 6, 2012



Pending Sales for Hoboken-April 6, 2012:
190 dabos vs. 190 last week (no change)

Pending Sales for Downtown Jersey City-April 6, 2012:
173 dabos vs. 167 last week (3.5% 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 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-April 6, 2012










Inventories in Hoboken increased two units to 262 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased by 20 units to 254.

Hoboken Absorption Rate Update-April 6, 2012



21.42 weeks vs. 30.44 weeks last week (29.6% decrease)




Downtown Jersey City Absorption Rate Update-April 6, 2012



30.56 weeks vs. 43.33 weeks last week (29.5% 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 listings: http://www.viewhobokenhomes.com/
Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/


 Follow me on Twitter: www.twitter.com/KevinDowdHBJC

19 Sales This Week-Downtown Jersey City Sales Update-April 6, 2012





There were 19 sales this week in downtown Jersey City. I cannot remember the last time there were this many sales in one week!

There were three sales at 88 Morgan for an average price of $564/sq.ft. which is well above recent averages.

Two bedrooms in the downtown area are still surging with an average sale price of $450/sq.ft.

Things are looking good right now.

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:
http://www.viewhobokenhomes.com/

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

23 Total Sales in Hoboken-Hoboken Sales Update-April 6, 2012


Activity picked up this week with 23 total sales in Hoboken.

1 bedroom condos finished off with a strong $478/sq.ft. average with no weak sales to speak of this week.

There were a total of 11 two bedroom sales this week which is also very impressive.

Great week overall.

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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Tuesday, April 3, 2012

March 2012 Statistics Update-Upward Trends Continue-April 3, 2012




Another solid month of increases for Hoboken and downtown Jersey City this month.

We've seen many instances of bidding wars as buyers swarm around whatever half way decent properties are out there right now.


Absorption Rate
The absorption rate for Hoboken increased 7.4% over last month, but actually decreased 46% from March, 2011 levels.

Downtown Jersey City decreased 15.1% over last month and decreased 40% from March, 2011 levels.

If you are currently looking for a home or know someone who is, you know that inventories are extremely low right now.


Pending Sales
Pending sales increased 19.15% and 23.02% for Hoboken and downtown Jersey City, respectively.  Even compared to 2011 levels, pending sales are up 11.5% and 36% for Hoboken and downtown Jersey City, respectively.

Even though inventory is quite low, roughly down by 50%, people are actively looking to buy.


Transactions
Sales were actually flat for Hoboken for March, but are up a whopping 212% from 2011 levels.

Downtown Jersey City was up 25% for the month and increased a staggering 181% over 2011 levels.

Buyers are snatching up whatever properties are available right now.


Price Per Square Foot-Hoboken

1 bedroom prices increased 8.48% and are up 3.9% when compared to this same period last year.

2 bedroom prices are flat for this month, but are still up 5.15% over last year.

3 bedroom prices are down 4% and down 8.9% when compared to the same period last year.

The market is continuing to grow as buyers are out looking for whatever deals are left out there.


Price Per Square Foot-Newport

Newport prices slid a bit this month which is surprising.  With such little inventory you would think that properties would be selling a bit higher.

1 bedroom prices dropped by 4.5% this month and are down 15.7% when compared to the same period last year.

2 bedroom prices eked out a 1.76% increased and are down just 1.4% when compared to last year.


Price Per Square Foot-Downtown


1 bedroom prices increased an impressive 39.43% this month, but are still down 5.3% when compared to last year.   This mainly due to some higher prices sales which helped increase sales for the area.

2 bedroom sales dropped 9.7% this month, but are up by 14.29% over the same period last year.

There has been a lot of activity in the downtown area over the last several months. Many buyers like the Brooklyn-like vibe that the downtown area offers.  Many of the condos in this area are older brownstone conversions that offers old world charm mixed in with modern amenities.


Conclusion
The swarming effect has continued again this month with one recent Hoboken listings attracting TEN offers.

This type of activity will continue and will help drive prices up over the next several months.   It will take quite awhile to properties to increase to previous levels, but it will reach a point soon where sellers will be willing to lose some of their equity to sell their homes.



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:
http://www.viewhobokenhomes.com/

Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/

Follow me on Twitter: www.twitter.com/KevinDowdHBJC