hOMES: Weekly Insight Into Hoboken & Jersey City Real Estate Trends | April 6, 2018

Hoboken & Jersey City Real Estate Trends | April 6, 2018

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

Spring may be taking its time here in Hudson County, but the Spring Market for Real Estate is already in full bloom.

Here’s a look at this week’s numbers:

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
25 new listings. The average price is $528,207 and the average price per sq/ft is $742.
Sold Properties:
3 properties closed. The average price was $534,833 and the price per sq/ft was $679.

2-Bedrooms
New Listings:
15 new Listings. The average price is $723,799and the average price per sq/ft is $715.
Sold Properties:
3 properties closed. The average price was $1,380,000 and the average price per sq/ft was $1,016.

3-Bedrooms
New Listings:
3 new listings. The average price was $1,013,333 and the price per sq/ft is $701.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
5 new listings. The average price is $2,169,600 and the average price per sq/ft is $820.
Sold Properties:
No closed properties this week.

Single-Family Homes
New Listings:
1 five-bedroom listed for $4,499,900
Sold Listings:
1 three-bedroom sold for $1,042,000.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
12 new listings. The average price is $634,199 and the average price per sq/ft is $775.
Sold Properties:
7 properties closed. The average price was $619,000 and the average price per sq/ft was $813.

2-Bedrooms
New Listings:
12 new Listings. The average price is $765,814the average price per sq/ft is $740.
Sold Properties:
1 property closed. The average price was $1,194,950 and the average price per sq/ft was $874.

3-Bedrooms
New Listings:
4 new Listings. The average price is $1,257,000 the average price per sq/ft is $817.
Sold Properties:
No sold properties.

4-Bedrooms
New Listings:
No new properties.
Sold Properties:
No closed properties this week.

Single-Family Homes
New Listings:
Two new three-bedroom homes listed for $1,700,000 and $1,150,000.
Sold Listings:
No sold properties.

JERSEY CITY HEIGHTS:
Studio/ 1-Bedrooms
New listings:
2 new listings. The average price is $377,000 and the average price per sq/ft is $379.
Sold Properties:
2 sold listings. The average price was $582,500 and the price per sq/ft was $430.

2-Bedrooms
New Listings:
4 new listings. The average price is $340,975 and the average price per sq/ft is $359.
Sold Properties:
3 sold listings. The average price was $583,333 and the average price pre sq/ft was $448.

3-Bedrooms
New Listings:
2 new listings. The average price is $674,000 and the average price per sq/ft is $635.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
One two-bedroom home listed for $375,000 and a three-bedroom listed for $599,000.
Sold Properties:
Two two-bedroom homes sold for $455,000 and $525,000.

JOURNAL SQUARE:
Studio/ 1-Bedrooms
New Listings:
8 new listings. The average price is $263,737 and the average price per sq/ft is $408.
Sold Properties:
No sold listings.

2-Bedrooms
New Listings:
2 new listings. The average price is $499,980 and the average price per sq/ft is $489.
Sold properties:
1 sold listing. The price was $710,000 and the price per sq/ft was $410.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
No sold properties.

Single-Family Homes:
New Listings:
Two new three-bedroom homes listed for $549,000 and $849,000 and a four-bedroom home listed for $799,000.
Sold Properties:
No sold properties.

BERGEN-LAFAYETTE:
New Listings:
Four new single family homes listed. A three-bedroom listed for $389,000 and three four-bedrooms homes listed for $320,000, $339,000 and $589,000.
Sold Properties:
A four bedroom home sold for $320,000 and a five-bedroom home sold for $699,000.

(Information provided by Hudson County MLS)

CLICK HERE to learn more about these and other properties…
CLICK HERE to find out how much your property is worth in today’s market…

Mortgage Market in Review:

Interest rates have been holding steady for the week thus far. We’ll see what impact the monthly Jobs’ Report has on the mortgage rate market, as that comes out on Friday. While new listings have come on for the spring market, inventory on a national level is still down double digits from a year ago, and home price gains continue to rise. Inventory will vary based on the specific region one is looking in, as real estate markets are local. Overall, mortgage rates have moved sharply higher this year, putting pressure on affordability for buyers as they either look to purchase their 1^st home, or upgrade their current living situation.

CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy.

ALSO OF INTEREST:
Five Common Mistakes for First-Time Buyers (Bankrate.com)

Lawsuit Seeks to Toss Jersey City’s Development Moratorium (JerseyDigs.com)

MURPHY IN THE MIDDLE: Governor Forced to Mitigate Brawl on Hoboken Waterfront

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken and Jersey City market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence 2015-2017, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past five years running (2012-2016), which represents the premium level of achievement within the Century 21 organization.