Friday, May 25, 2012

Pending Sales Strong and Steady-Hoboken/Downtown Jersey City Pending Sales Update-May 25, 2012


Pending sales remained strong and steady this week.  The only thing that is preventing pending sales from creeping higher is a lack of good inventory.

Pending Sales for Hoboken-May 25, 2012:
227 dabos vs. 231 last week (1.8% decrease)

Pending Sales for Downtown Jersey City-May 25, 2012:
163 dabos vs. 164 last week (.7% 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

Inventories Drop This Week-Hoboken/Downtown Jersey City Absorption Rate Update-May 25, 2012



 
Inventories in Hoboken dropped 5 more units units to 270 this week.  This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City decreased by 21 units to 244 this week. This number also includes condos/coops and 1 to 4 family properties.

Hoboken Absorption Rate Update-May 25, 2012
19.18 weeks vs. 23.83 weeks last week (19.6% decrease)

Downtown Jersey City Absorption Rate Update-May 25, 2012
22.51 weeks vs. 23.43 weeks last week (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 Hoboken listings: http://www.viewhobokenhomes.com/


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

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

Strong Week For Downtown Jersey City Sale-Jersey City Sales Update-May 25, 2012



There were 13 sales in the downtown area this week.

Two bedroom condos continue to sell briskly and pulled off a strong $430/sq. ft. average this week.

There was also one two bedroom sale in the Newport area that for a slightly above average $598/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

23 Sales in Hoboken-PRICES ARE UP!-Hoboken Sales Update-May 25, 2012



The surge of activity we've seen over the last few months is finally hitting us.  We had a total of 23 sales this week in Hoboken.

One bedroom sales averaged a very strong $502/sq.ft. led by a $562/sq.ft. sale at 300 Newark Street.

Two bedroom sales averaged a very strong $499/sq.ft. with two properties at Maxwell Place averaged over $700/sq.ft. and a property at The Constitution selling for $550/sq.ft.

Although the sale at The Constitution was a cash deal, I can't believe that someone would buy this property without at least looking at recent building sales.  This unit sold for about $100,000 more than other recent sales.




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, May 18, 2012

Pending Sales Increase AGAIN for Hoboken-Hoboken/Downtown Jersey City Pending Sales Update-May 18, 2012


Pending sales continue to rage in Hoboken and downtown Jersey City this week as buyers pick up properties at a feverish pace.

Pending Sales for Hoboken-May 18, 2012:
231 dabos vs. 218 last week (5.96% increase)

Pending Sales for Downtown Jersey City-May 18, 2012:
164 dabos vs. 172 last week (4.7% 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

Hoboken/Downtown Jersey City Absorption Rate Update-May 18, 2012




 
Inventories in Hoboken dropped 2  units units to 275 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased by 8 units to 265. This number also includes condos/coops and 1 to 4 family properties.

Hoboken Absorption Rate Update-May 18, 2012
23.83 weeks vs. 20 weeks last week (19.15% increase)

Downtown Jersey City Absorption Rate Update-May 18 , 2012
23.43 weeks vs. 21.83 weeks last week (7.33% 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: http://www.viewhobokenhomes.com/


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

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

Strong Week for Downtown Jersey City-Jersey City Sales Update-May 18, 2012



There were 12 sales in the downtown area this week.

Both units at 88 Morgan sold for an average of $477/sq.ft. and they weren't short sales.  I think buyers have realized that these properties aren't going to sell in the $750/sq.ft. range there were selling in just a few years ago.

There was a lot of activity again this week in the 2 bedroom market in the downtown area.  An average sales price of $421/sq.ft. is very good for this market.

There was another 3 bedroom sale again this week in the downtown area that sold for $331/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

1 Bedroom Prices Top $490/sq.ft. This Week-Hoboken Sales Update-May 18, 2012



There were 14 sales again this week in Hoboken.

1 bedroom prices surged to $492/sq.ft. this week led by a strong sale at 2 Constitution at $561/sq.ft.

We had a surge of 2 bedroom sales this week, with 14 condos being sold for an average price of $462/sq.ft.

I do expect prices to start creeping up in the next few weeks as some of the over asking price properties start to close.




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, May 11, 2012

Pending Sales Rage Again This Week-May 11, 2012


Pending sales continue to rage in Hoboken and downtown Jersey City this week as buyers pick up properties at a feverish pace.

Pending Sales for Hoboken-May 11, 2012:
218 dabos vs. 208 last week (4.8% increase)
Pending Sales for Downtown Jersey City-May 11, 2012:
172 dabos vs. 175 last week (1.8% 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 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-May 11, 2012




Inventories in Hoboken increased 6 units to 277 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased by 4 units to 257. This number also includes condos/coops and 1 to 4 family properties.

Hoboken Absorption Rate Update-May 11, 2012
20 weeks vs. 19.28 weeks last week (.37% increase)

Downtown Jersey City Absorption Rate Update-May 11 , 2012
21.83 weeks vs. 27.59 weeks last week (21% 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

15 Sales in Downtown Jersey City-Jersey City Sales Update May 11, 2012



There were a total of 15 sales this week in downtown Jersey City.

One bedrooms in the downtown area averaged a stable $354/sq.ft.this week.

Two bedroom downtown condos averaged $379/sq.ft. while two bedroom Newport condos averaged a solid $493/sq.ft.

There was one lone 3 bedroom condo at 134 Morris at sold for $363/sq.ft. which is impressive considering this was a third floor walkup.


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

Jon Corzine's Condo at Maxwell Place Sells for $462,581 Loss-Hoboken Sales Update-May 11, 2012


Another solid week in Hoboken with 14 sales.

 1 bedrooms averaged $467/sq.ft. and were lead by a $577/sq.ft. sale at 160 2nd Street.  It's not uncommon for smaller properties to sell for much higher sq. ft. rates.

Jon Corzine's unit at Maxwell Place sold for $1167/sq.ft. which is a loss of $462,581 and that doesn't take into account any post-sale renovations that were done on the property.



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, May 4, 2012

Pending Sales Highest in Hoboken Since May, 2010-Hoboken/Downtown Jersey City Pending Sales Update-May 4, 2012


Hoboken hasn't seen this many pending sales since May, 2010.

Pending Sales for Hoboken-May 4, 2012:
208 dabos vs. 197 last week (5.58% increase)

Pending Sales for Downtown Jersey City-May 4, 2012:
175 dabos vs. 173 last week (1.15% 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

Slight Increases in Absorption Rates-Hoboken/Downtown Jersey City Absorption Rate Update-May 4, 2012





Inventories in Hoboken increased 20 units to 271 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased by 16 units to 261. This number also includes condos/coops and 1 to 4 family properties.
Hoboken Absorption Rate Update-May 4, 2012
19.28 weeks vs. 18.12 weeks last week (6.4% increase)

Downtown Jersey City Absorption Rate Update-May 4, 2012
27.59 weeks vs. 22.11 weeks last week (24.79% 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: http://www.viewhobokenhomes.com/


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

Downtown Jersey City Slumps This Week-Downtown Jersey City Sales Report-May 4, 2012



It's running hot and cold this week in downtown Jersey City with only 6 sales this week.

1 BR downtown condos sold well at $441 /sq.ft.

The 2BR penthouse at Gull's Cove sold well at $660/sq.ft.  It was the top floor unit, but that's a little pricey for the area.

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

Huge Increases in Sales This Week-Hoboken Sales Update-May, 4, 2012


Hoboken ended the week the week with 21 sales.

The lack of one bedroom sales last week was made up for this week with 12 sales for an average price of $499/sq.ft.  Very impressive.

Two bedroom sales did well this week as well, with seven total sales for an average price of $458/sq.ft.

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

Thursday, May 3, 2012

Prices Surge in Hoboken and Downtown Jersey City-Hoboken/Downtown Jersey City Monthly Stats Update-April, 2012




I lost out on two bidding wars again this month.  Who's saying that the market hasn't picked up?


Absorption Rate
The absorption rate decreased to a very low 19.99 weeks last month and has decreased an impressive 41.6 from April, 2011 levels.

Downtown Jersey City decreased 26.7% over last month and decreased 40% from April, 2011 levels.

Inventories haven't improved at all this month.


Pending Sales
Hoboken pending sales increased 12.73% over last month and increased 2% over April, 2011 levels.   Downtown Jersey City pending sales increased 14.47% and an impressive 44.16% over 2011 levels.

Transactions
Total transactions in Hoboken were actually down 14.3% over last month and down 13.1% when compared to the same period last year.

Interestingly, transactions were up 17.5% in downtown Jersey City and up 14.63% over last year.

I do think transactions would be higher if there was more inventory.


Price Per Square Foot-Hoboken
1 bedroom prices increased 4.99% and are up 10% when compared to this same period last year.

2 bedroom prices are down 4.99%,  but are still up 10.13% over last year.
3 bedroom prices ticked up another 4.04% and are down 2.9% when compared to the same period last year.

Price Per Square Foot-Newport
We're finally seeing some growth in the Newport area this month.

1 bedroom prices are up 16.43% and are up 13.37% over last year.

2 bedroom prices were down 3.5% but increased 13.84% over last year.


Price Per Square Foot-Downtown

1 bedroom prices increased 5.43% and are up 23.4% over the same period last year.

2 bedroom prices increased 13.67% and are up 29.3% over last year.

3 bedroom prices increased 14.19% and are up 10.76% over last year.

There has been a surge of activity in the downtown area over the last several months.

Conclusion
The lack of inventory wasn't any better for April and probably won't improve for several months.  Due to the extremely strong demand for properties, prices continue their upward momentum.


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