13 Properties Came on the Market This Week vs 04 last week
730-732 ADAM ST, HOBOKEN, NJ
419 MADISON ST, HOBOKEN, NJ
402 9TH ST, HOBOKEN, NJ
924 JEFFERSON ST, HOBOKEN, NJ
901 GARDEN ST, HOBOKEN, NJ
551 OBSERVER HIGHWAY, HOBOKEN, NJ
70 ADAMS ST, HOBOKEN, NJ
600 HUDSON ST, HOBOKEN, NJ
1500 WASHINGTON ST, HOBOKEN, NJ
350 7TH ST, HOBOKEN, NJ
78 JACKSON ST, HOBOKEN, NJ
1450 WASHINGTON ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
1125 MAXWELL LANE, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.
12 Properties Went Into Contract This Week vs 1 last week
4 Properites sold this Week vs 2 Last Week
143 total active listings are on the market as of the date of this post. 195 are under contract.
The Absorption rate this week is 35.75 weeks. See the attached picture of the absorption rate over time. The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales. We had 4 closings this week and we have 143 active listings. So at the current rate of 4 closings per week, it would take 35.75 weeks (143/4) to sell off the current inventory. See the chart attached as a photo to see how absorption rate has fluctuated over time.
The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.
Generally if there is more than 4 months of inventory it's a buyers' market. Less than 4 months it's a sellers' market. Prices are down but so is the inventory.
Another key factor is listing date to contract. See the quarterly review and consult an agent. Outlyers can skew these numbers.
If you would like price per square foot numbers, please Click Here where the full weekly stats report is posted including Price Per Square Foot by bedroom and neighborhood so you can understand how location effects price."
Provided by Donna Antonucci
Prudential Castle Point Realty