Friday, August 31, 2012

Pending Sales Hold Steady-Hoboken/Downtown Jersey City Pending Sales Update-August 31, 2012



Pending Sales for Hoboken-August 31, 2012:
192 dabos vs. 197 last week (2.6% decrease)
Pending Sales for Downtown Jersey City-August 31, 2012:
164 dabos vs. 164 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 Hoboken listings:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Lowest Inventory Levels in 3 At Least 3 Year-Hoboken/Downtown Jersey City Pending Sales Update-August 31, 2012






Inventories in Hoboken decreased another 11 units to 184 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 3 units to 191 this week. This number also includes condos/coops and 1 to 4 family properties.

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-August 31, 2012
8.05 weeks vs. 11.57 weeks last week (30.5% decrease)

Downtown Jersey City Absorption Rate Update-August 31, 2012
15.61 weeks vs. 20.36 weeks last week (24.4% 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

13 Sales in Downtown Jersey City-Downtown Jersey City Sales Update-August 31, 2012


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

There was a 2BR sale at 389 Washington for $469/sq.ft. which is a little low for that building.

Downtown 2BR sales sold well again this week with an average price of $419/sq.ft.

There were four 2 family sales this week.  It looks like we're going to see a lot of brownstone renovations in the area in the upcoming months.

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

$561/sq.ft. Average for 2BR, Market Picking Up-Hoboken Sales Update-August 31, 2012




There were a total of 27 sales in Hoboken this week.

1 BR sales easily outperformed last week with an average sales price of $532/sq.ft.  There were two sales over $550/sq.ft., one at $662/sq.ft. and one at $702/sq.ft.

2 BR sales also outperformed last week with a very strong $532/sq. ft. average.  There were three sales at or above $500/sq.ft., one sale at $662/sq.ft. (although it was 426 sq. ft.) and one sale at Maxwell Place for $702/sq.ft.

3 BR performed well at $517/sq.ft. with a new listing at 213 Monroe selling for $461/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:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, August 24, 2012

Pending Sales Drop Due to Lack of Inventory-Hoboken/Downtown Jersey City Pending Sales Update-August 24, 2012



Pending Sales for Hoboken-August 24, 2012:
197 dabos vs. 206 last week (4.4% decrease)
Pending Sales for Downtown Jersey City-August 24, 2012:
164 dabos vs. 170 last week (3.5% 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:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Holding Steady-Hoboken/Downtown Jersey City Absorption Rate Update-August 24, 2012






Inventories in Hoboken decreased another 12 units to 195 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 3 units to 188  this week. This number also includes condos/coops and 1 to 4 family properties.

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-August 24, 2012
11.57 weeks vs. 11.5 weeks last week (.6% increase)

Downtown Jersey City Absorption Rate Update-August 24, 2012
20.36 weeks vs. 19.56 weeks last week (4.08% 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: http://www.viewhobokenhomes.com/

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

14 Sales This Week-Downtown Jersey City Sales Update-August 24, 2012


There were a total of 14 sales this week in downtown Jersey City.

There was just a single 1BR sale in the Newport area at a strong $528/sq.ft. this week.  Just to show how pricing has changed, I had a similar unit in the building that closed on 9/30/11 for $435/sq.ft.

2 BR Newport sales also did well this week at $535/sq.ft.  It looks like there was a bidding ware at 20 Newport Parkway with the sales price going $11,000 over asking.

2BR downtown sales also did well again this week at $411/sq.ft. with two new construction sales at 217 Newark bolstering prices.

3 BR downtown sales also sold well at $411/sq.ft.

Overall, a very good sales 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

28 Sales This Week-Hoboken Sales Update-August 24, 2012




There were a total of 28 sales in Hoboken this week.

1 BR sales did well again this week with an average sales price of $489/sq.ft.

There was an unrenovated condo sale at 118 Jefferson that sold for $375/sq.ft. that brought down the average a bit.

2 BR sales slipped slightly this week to $438/sq.ft. on several lower sales including a $350/sq.ft. sale at 77 Jefferson.  It's interesting to note that the highlight of the 2 BR market was a 551 sq. ft. unit that sold for a strong $565/sq.ft.

3 BR units sold OK this week at $429/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:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC

Friday, August 17, 2012

Hoboken/Downtown Jersey City Pending Sales Update-August 17, 2012



Pending Sales for Hoboken-August 17, 2012:
206 dabos vs. 216 last week (4.6% decrease)
Pending Sales for Downtown Jersey City-August 17, 2012:
170 dabos vs. 172 last week (1.1% 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:
http://www.viewhobokenhomes.com/
Search downtown Jersey City listings:
http://www.alldowntownjerseycityhomes.com/
Follow Me on Twitter: www.twitter.com/KevinDowdHBJC

Where is The Inventory? Hoboken/Downtown Jersey City Absorption Rate Update-August 17, 2012


 

Inventories in Hoboken decreased 3 units to 207 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 4 units to 185  this week. This number also includes condos/coops and 1 to 4 family properties.

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-August 17, 2012
11.5 weeks vs. 12.81 weeks last week (10.2% decrease)

Downtown Jersey City Absorption Rate Update-August 17, 2012
19.56 weeks vs. 19.05 weeks last week (2.68% 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

Newport 1BR sales at $566/sq.ft.-Downtown Jersey City Sales Update-August 17, 2012


There were a total of 10 sales this week in downtown Jersey City.

Newport sales did well again this week with 1BR condos averaging a strong $566/sq.ft.  There were two sales by the 88 Morgan (Trump Building) that sold for over $600/sq.ft.

2BR downtown sales also did well again this week at $420/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

18 Sales in Hoboken This Week-Hoboken Sales Update-August 17, 2012




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

One bedroom sales averaged $485/sq.ft. with a low sale of $572/sq.ft. at Maxwell Place. This is a little lower than usual for this building.

It was also surprising to see at $538/sq.ft. sale at 1000 Hudson Street.  This sale is definitely higher than some of the recent sales in the building which is a current trend that we're seeing.


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, August 10, 2012

Pending Sales Increase for Hoboken and Jersey City-Pending Sales Update-August 10, 2012


Pending Sales for Hoboken-August 10, 2012:
216 dabos vs. 214 last week (.93% increase)
Pending Sales for Downtown Jersey City-August 10, 2012:
172 dabos vs. 167 last week (2.99% 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

Absorption Rate For JC Drops Under 20 Weeks-Hoboken/Downtown Jersey City Absorption Rate Update-August 10, 2012



 
Inventories in Hoboken decreased 6 units to 210 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 7 units to 189  this week. This number also includes condos/coops and 1 to 4 family properties.

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-August 10, 2012
12.81 weeks vs. 12 weeks last week (6.75% increase)


Downtown Jersey City Absorption Rate Update-August 10, 2012
19.05 weeks vs. 20.22 weeks last week (5.8% 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 Hoboken listings: http://www.viewhobokenhomes.com/

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

77 Hudson Sells for $737/sq.ft.-Downtown Jersey City Sales Update-August 10, 2012


There were a total of 9 sales this week in downtown Jersey City.

Newport sales did well this week with a 1 BR condo at 20 2nd Street selling for a strong $531/sq.ft. and a 2 BR unit at The Shore selling for a strong $569/sq.ft.

There were five 1 BR sales in the downtown area, with the leader being a strong $737/sq.ft. sale at 77 Hudson.

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

12 Sales This Week-2BR Prices Dip-Hoboken Sales Update-August 10, 2012


There were 12 sales in Hoboken this week.

The lone 1 BR sale at 214 Jefferson sold for a strong $493/sq.ft.

2 BR sales were a little lower than usual this week at an average sales price of $438/sq.ft.  There were two sales below $400/sq.ft. and just a single sale above $500/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, August 9, 2012

Big Increases over 2010-Monthly Stats Update-July, 2012



July saw mostly price decreases for Hoboken and downtown Jersey City, with partial increases in pricing when compared to July, 2011.

The big news is that increases when compared to 2010 levels are significant, which is clear evidence that the market is improving.


Absorption Rate
The absorption rate for Hoboken dropped 14.9% to a very low 13.06 weeks and downtown Jersey City decreased 13.1% to 24.1 weeks which is very good for that area.  These rates are also lower than July, 2011 figures.

When compared to 2010 figures, the absorption rate is down 54.1% in Hoboken and 49.2% in downtown Jersey City. 

Pending Sales
Pending sales are basically flat for Hoboken and downtown Jersey City with a 1.5% decrease for Hoboken and .5% increase for downtown Jersey City.  When compared to 2011, pending sales are up 38.57% for Hoboken and 15.86% for downtown Jersey City.  Pending sales are a good indication of market strength and with the increased we've had over last year, you can see that the market activity has increased significantly.

When compared to 2010 figures, pending sales are up 34.39% for Hoboken and 51.89% in downtown Jersey City.

Transactions
Hoboken saw a minor 1.3% decrease in transactions when compared to last month, but still have a 5.19% increase when compared to July, 2011.  Downtown Jersey City was again flat this month and is down 8.7% when compared to the same period last year.

Closed transactions are up 5.19% for Hoboken and are actually down 31.2% for downtown Jersey City when compared to 2010 levels.


Price Per Square Foot-Hoboken
1 bedroom prices decreased 7.8% and are down 4.1% when compared to this same period last year.

2 bedroom prices decreased 1.5% and are still up 5.97% over last year.
3 bedroom prices are also down 2.5% and are still up 10.7% when compared to the same period last year.

Compared to 2010 levels we see a different story.

1 bedroom prices are up 2.79%

2 bedroom prices are up 13.92%
3 bedroom prices are up 23.75%

Price Per Square Foot-Newport
1 bedroom prices dropped 17.1% and are down .1% when compared to the same period last year.

2 bedroom prices dropped 2% but are up 9.96% when compared to last year.

Compared to 2010 levels:
1 bedroom prices are down 6.3%
2 bedroom price are up 18.5%


Price Per Square Foot-Downtown
1 bedroom prices dropped 5.7% and are also down 5.4% over the same period last year.
2 bedroom prices decreased 5.2% and are also down 10.8% over the same period last year.
Compared to 2010 levels:
1 bedroom prices are down 1.58%
2 bedroom price are up .6%


Conclusion
Now that I've added 2010 figures into the analysis, it's easier to see that the market has had some significant increases. Pending sales have continued to strengthen which is a good indicator of future sustained strength the market.



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

Saturday, August 4, 2012

Hoboken/Downtown Jersey City Pending Sales Update-August 3, 2012


Pending Sales for Hoboken-August 3, 2012:
214 dabos vs. 225 last week (4.9% decrease)

Pending Sales for Downtown Jersey City-August 3, 2012:
167 dabos vs. 167 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 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-August 3, 2012



Inventories in Hoboken decreased 6 units to 216 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City decreased 19 units to 196  this week. This number also includes condos/coops and 1 to 4 family properties.

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-August 3, 2012
12 weeks vs. 14.36 weeks last week (16.4% decrease)

Downtown Jersey City Absorption Rate Update-August 3, 2012
20.22 weeks vs. 22.72 weeks last week (11% 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

Friday, August 3, 2012

All Downtown Sales This Week-14 Sales-Jersey City Sales Update-August 3, 2012


There was a total of 14 sales this week in downtown Jersey City, with no sales in the Newport area.

1 BR sales in the downtown area were very strong again this week at $452/sq.ft.  Of note were sales at 77 Hudson for $615/sq.ft.  and 201 Marin Blvd. at $452/sq.ft.

2 BR sales were also very solid this week at $421/sq.ft.  There were two strong sales at 201 Marin Blvd at $476/sq.ft. and 217 Newark at $461/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

1BR Average $524/sq.ft., 2BR Average $482/sq.ft.-29 SALES! -Hoboken Sales Update-August 3, 2012


There were a total of 29 sales this week in Hoboken.

1 BR condos continues their strong performance this week with an average sales price of $524/sq.ft.  Three of the five sales this week were over $500/sq.ft. with a surprisingly high sale of $549/sq. ft. at 739 Park.

There were 18 sales in the 2 BR market this week-WOW!  I can't remember that last time I've seen this many 2 BR sales in one week.  What's more impressive is that the average sales price is $482/sq.ft.

Even the 3BR market did well this week with an average sales price of $458/sq.ft.

This was a very impressive week.



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