Blog, Hudson

Hudson County & Hoboken Real Estate Inventory Levels

I promised that last week I would do an update on Hoboken and Hudson County inventory levels.  Below is a graph of housing market statistics for the month of June.  Notice the Days on Market.  Hoboken is well below the Hudson County average, which means that homes in Hoboken are selling MUCH faster than other areas of the county. 

Hoboken real estate can arguably be at the bottom of the barrel.  It may or may not be.  What I do know is this – builders will begin to entertain new construction at the 6-7 month point which is the break even time parameter of debating a buyers or sellers market.  Although we are not quite there yet, I think the numbers are indicative to how close we can possibly be to a balanced real estate market. 

This graph below is a general graph taken from all residential real estate inventory numbers such as condos, co-ops, multi-family and single family homes.  If you are interested, New Jersey Real Estate Guys can structure a specific analysis for your property based on inventory / sales levels of your specific pricepoint.  If you are interested in finding out how we come to our calculations to verify statistics, please visit our Hudson County Absorption Rate  page

Hudson County	6/16/2009	6/23/2009	6/30/2009
Total # of Homes on Market	4461	4477	4471
Total # of New Listings in Past Week	213	196	157
Total # of Property Under Contract Last 30 Days	331	324	328
Total # of Sold/Closed in Last 30 Days	221	228	215
Average Days on Market of Sold	107	120	121
Total # of Expired & Withdrawn in Past Year	3440	3581	3677
# Months Supply (Inventory Depletion)	13	14	14
Hoboken
Total # Homes on Market	635	641	627
Total # of New Listings in Past Week	34	41	22
Total # of Properties Under Contract in Past 30 Days	73	68	75
Total # of Sold/Closed in Last 30 Days	50	48	40
Average Days on Market of Sold	85	89	77
Total # of Expired & Withdrawn in 2008	484	501	515
# Months Supply (Inventory Depletion)	9	9	8

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