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JC, Downtown Weekly Stats, Ending January 9, 2013

JC, Downtown Weekly Stats, Ending January 9, 2013 brought to you by Hoboken Real Estate Monitor.com and Donna Antonucci

26 Properties came on the Market This Week vs 04 Last week

186 WAYNE ST, JERSEY CITY, NJ

229 BRUNSWICK ST, JERSEY CITY, NJ

405 2ND ST, JERSEY CITY, NJ

689 LUIS M MARIN BLVD, JERSEY CITY, NJ

201 MARIN BLVD, JERSEY CITY, NJ

10 REGENT ST, JERSEY CITY, NJ

18 BRIGHT ST, JERSEY CITY, NJ

25 HUDSON ST, JERSEY CITY, NJ

201 LUIS M MARIN BLVD, JERSEY CITY, NJ

201 LUIS M MARIN BLVD, JERSEY CITY, NJ

65 2ND ST, JERSEY CITY, NJ

357 VARICK ST, JERSEY CITY, NJ

1 SHORE LANE, JERSEY CITY, NJ

700 GROVE ST, JERSEY CITY, NJ

122 LIBERTY VIEW DRIVE, JERSEY CITY, NJ

45 RIVER DR SOUTH, JERSEY CITY, NJ

187 WARREN ST, JERSEY CITY, NJ

25 HUDSON ST, JERSEY CITY, NJ

389 WASHINGTON BLVD, JERSEY CITY, NJ

389 WASHINGTON ST, JERSEY CITY, NJ

1 SHORE LANE, JERSEY CITY, NJ

116 LIBERTY VIEW DRIVE, JERSEY CITY, NJ

187 Wayne WAYNE ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

158 WAYNE ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

139 MORRIS ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

2 2ND ST, JERSEY CITY, NJ. This listing is so new, listing details are only available to subscribed users. Please log on to see listing details

6 Properties Went Into Contract This Week  vs 3 Last week

5 Properties Sold This Week  vs 8 Last week

118 total active listings are on the market as of the date of this post. 140 are under contract.

 (You must log-into the search engine and search pending and sold listings to see these property details)

The Absorption rate this week is 23.60 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 5 closings this week and we have 118 active listings.  So at the current rate of 5 closings per week, it would take 23.60 weeks (118/5) 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
201-216-0909

201-240-6832

donnaantonucci@gmail.com

http://www.hobokenrealestatemonitor.com/

http://www.donnaantonucci.com/

www.search.hobokenrealestatemonitor.com/map/

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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