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Hoboken Weekly Stats, Ending October 24, 2012

Hoboken Weekly market summary brought to you by Hoboken Real Estate Monitor.com and Donna Antonucci

 

18 Properties Came on the Market This Week vs 17 last week

1011 WILLOW AVE, HOBOKEN, NJ

636 PARK AVE, HOBOKEN, NJ

104 6TH ST, HOBOKEN, NJ

636 PARK AVE, HOBOKEN, NJ

830 MONROE ST, HOBOKEN, NJ

150 14TH ST, HOBOKEN, NJ

75 GARDEN ST, HOBOKEN, NJ

1500 HUDSON ST, HOBOKEN, NJ

116 BLOOMFIELD ST, HOBOKEN, NJ

116 BLOOMFIELD ST, HOBOKEN, NJ

706 PARK AVE, HOBOKEN, NJ

61 5TH ST, HOBOKEN, NJ

206 WILLOW AVE, HOBOKEN, NJ

116 BLOOMFIELD 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.

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.

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.

225 RIVER ST, HOBOKEN, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details.

 

11 Properties Went Into Contract This Week  vs 14 last week

12 Properties Sold This Week vs 9 Last Week

162 total active listings are on the market as of the date of this post. 177 are under contract.

The Absorption rate this week is 13.50 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   12 closings this week and we have 162 active listings.  So at the current rate of 12 closings per week, it would take 13.50 weeks (162/12) 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."

 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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