Friday, September 28, 2012

Pending Sales Increase..Again-Hoboken/Downtown Jersey City Pending Sales Update-September 28, 2012



Pending Sales for Hoboken-September 28, 2012:
183 dabos vs. 180 last week (1.67% increase)


Pending Sales for Downtown Jersey City-September 28, 2012:
185 dabos vs. 176 last week (5.1% 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 Rates Hold Steady-Still No Inventory-Hoboken and Downtown Jersey City Absorption Rate Update-September 28, 2012





Where is all the inventory?

Inventories in Hoboken climbed two units to 174 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 8 units to 168 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-September 28, 2012
8.87 weeks vs. 8.47 weeks last week (4.7% increase)

Downtown Jersey City Absorption Rate Update-September 28, 2012
17.34 weeks vs. 17.34 weeks 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

1 BRs Downtown Average $361/sq.ft., 2 BRs Downtown Average $430/sq.ft.-Downtown Jersey City Sales Update-September 28, 2012




There were 11 sales this week in downtown Jersey City this week.

Really solid numbers all across the board here.

1 BR Downtown sales continued their winning streak with an impressive $430/sq.ft. average 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

1 BRs Average $485/Sq.Ft., 2 BRs Average $472/sq.ft. and 3 BRs average $536/sq.ft.-Hoboken Sales Update-September 28, 2012




We had 16 sales this week in Hoboken.

Solid performers this week with 1BR units averaging $485/sq.ft. and 2 BR averaging $472/sq.ft.

The big news this week in 3 BR condos which averaged an impressive $536/sq.ft.

Snatch the last of the good deals while you can.

Two properties sold above asking price and three properties 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

Friday, September 21, 2012

Pending Sales Update-September 21, 2012



Pending Sales for Hoboken-September 21, 2012:
180 dabos vs. 178 last week (1.12% increase)


Pending Sales for Downtown Jersey City-September 21, 2012:
176 dabos vs. 179 last week (1.7% 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 Update-September 21, 2012





Where is all the inventory?

Inventories in Hoboken dropped 2 units to 170 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 2 units to 176 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-September 21, 2012
8.47 weeks vs. 7.53 weeks last week (12.48% increase)

Downtown Jersey City Absorption Rate Update-September 21, 2012
17.34 weeks vs. 14.5 weeks last week (19.59% 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

Big Jump in Prices at 389 Washington Street-Downtown Jersey City Sales Update-September 21, 2012




There were a total of 7 sales this week in downtown Jersey City.

A 1 BR unit at 389 Washington Street sold for a very impressive $659/sq.ft.  I sold a similar short sale in the building that closed on 9/30/11 for $467/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

Market Stays Strong-Hoboken Sales Update-September 21, 2012




There were "only" 13 sales in Hoboken this week.

One and two bedroom averages were pushing the $500/sq.ft. mark again this week.

The 3 BR listing at 207 2nd Street sold for an impressive $590/sq.ft. and sold in just 19 days.

Market is still strengthening and the recent positive outlook for the nationwide housing market is going to nothing but help the growth continue.


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, September 14, 2012

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



Pending Sales for Hoboken-September 14, 2012:
178 dabos vs. 181 last week (1.7% decrease)


Pending Sales for Downtown Jersey City-September 14, 2012:
179 dabos vs. 170 last week (5.29% 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

Where is All The Inventory? Hoboken/Downtown Jersey City Absorption Rate Update-September 14, 2012





Where is all the inventory?

Inventories in Hoboken dropped 11 units to 172 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 13 units to 174 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-September 14, 2012
7.53 weeks vs. 8.71 weeks last week (13.5% decrease)

Downtown Jersey City Absorption Rate Update-September 14, 2012
14.5 weeks vs. 17.24 weeks last week (15.9% 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 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 in Downtown Jersey City This Week-Downtown Jersey City Sales Update-September 14, 2012


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

The Newport area continually posts strong sales numbers and this week was no exception.

A 1 BR condo at 65 2nd Street sold very well at $546/sq.ft.

2 BR downtown sales did especially well this week at $468/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

House Cleaning This Week with 1 BR and 2 BR Prices Dropping-September 14, 2012




There 25 sales again this week in Hoboken.

A lot of the lower-priced inventory sold this week which brought down the average sales price for 1 BR and 2BR condos this week.

A short sale at 413 1st Street for $311 really brought down 1 BR sales.  Thankfully, we don't have many short sales in Hoboken!

2 BR sales did OK this week at $468/sq.ft. but were brought down by lower price sales at 117 and 119 Madison which are higher floor walkups.

People are turning to these types of properties because there isn't much inventory out there at the moment.


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

Thursday, September 13, 2012

Real Estate Market Continues to Strengthen with Impressive Numbers-Monthly Stats Update-August, 2012


The August numbers show that the market is steadily improving.

1 BR prices for Hoboken were up slightly, while 2BR and 3BR units saw modest decreases.  All prices are up over 2010 and 2011 numbers.

Prices were up across the board in Jersey City, with the exception of 2 BR condos in the Newport area which saw a .6% decrease in prices.


Absorption Rate
The absorption rates dropped to the lowest levels I've ever seen in the area.  11.19 weeks for Hoboken and 18.96 weeks in Jersey City?  Crazy.

These numbers are down a whopping 41.5% for Hoboken and 34.2% for downtown Jersey City when compared for 2011 figures and 74.3% and 64% when compared to 2010 figures.  Amazing.


Pending Sales
Pending Sales dropped 6.1% for Hoboken and .4% for downtown Jersey City.  The problem that we're having again this month is a lack of inventory.  Demand is clearly outpacing supply at this point.

When compared to 2011 figures, pending sales are up 31.4% for Hoboken and 26.8% for Jersey City.  When compared to 2010 figures, pending sales are up 30.8% for Hoboken and 63.3% for Jersey City.


Transactions
Transactions increased 22.22% in Hoboken over last month and increased 28.6% over last month for Jersey City.

Hoboken transactions are up 22.2% over the same period last year and Jersey City transactions are up 20% when compared to August, 2011 figures.

The increase is even greater when you look at 2010 numbers, where transactions for Hoboken are up 45.6% for Hoboken and a whopping 92.9% for downtown Jersey City.


Price Per Square Foot-Hoboken
1 bedroom prices increased 5.47% and are up 3.5% when compared to this same period last year.

2 bedroom prices decreased .6% and are still up .9% over last year.

3 bedroom prices are down 5.6% and are still up 4.9% when compared to the same period last year.

Compared to 2010 levels:

1 bedroom prices are up 2.8%

2 bedroom prices are up 7.7%

3 bedroom prices are up 6.2%


Price Per Square Foot-Newport
1 bedroom prices increased 25.2% and are up .8% when compared to the same period last year.

2 bedroom prices dropped .6% but are up 1.2% when compared to last year.

Compared to 2010 levels:

1 bedroom prices are up13.4%

2 bedroom prices are down 2%


Price Per Square Foot-Downtown

1 bedroom prices increased 4.2% and are also up 4.9% over the same period last year.

2 bedroom prices increased 10.1% and are also up 16.7% over the same period last year.

Compared to 2010 levels:

1 bedroom prices are up 5.1%

2 bedroom price are up 11.3%


Conclusion
Market prices continue to strengthen and have been held back by an approximately 50% reduction in normal inventories in Hoboken and downtown Jersey City. Properties are moving very briskly right now as buyers continue to feel optimistic that the economy continues to show slow and steady signs of improvement.  Everyone has been talking about a "double dip" in pricing...but I havent' seen it.



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, September 7, 2012

Downtown Jersey City Sales Update-September 7, 2012


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

There was a strong 2 BR sale in the Newport area that sold for $575/sq.ft.  It was on the market for 4 days and sold for askign 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
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 Pending Sales Update-September 7, 2012



Pending Sales for Hoboken-September 7, 2012:
181 dabos vs. 192 last week (5.7% decrease)
Pending Sales for Downtown Jersey City-September 7, 2012:
170 dabos vs. 164 last week (3.66%)
 
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's The Inventory? Hoboken/Downtown Jersey City Absorption Rate Udpate-September 7, 2012






Inventories in Hoboken dropped one unit to 183 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 4 units to 187 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-September 7, 2012
8.71 weeks vs. 8.05 weeks last week (.81% increase)

Downtown Jersey City Absorption Rate Update-September 7, 2012
17.24 weeks vs. 15.61 weeks last week (10.44% 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

1 BR & 2BR Unit Above $500/Sq. Ft. Average Again-Hoboken Sales Update-September 7, 2012




There were a total of 25 sales in Hoboken this week.

1 BR sales sold well again this week at $524/sq.ft. with a sale at 124 Madison selling for an impressive $700/sq.ft.

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 continued their ride above $500/sq.ft. with an average sales price of $509/sq.ft.

We had five 3 BR sales this week.  I haven't seen this many 3 BR sales in one week in a long time.

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