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