downtown vs hoboken market Trends report

by Linden Moe on September 15, 2011

Downtown Jersey City VS Hoboken Market Trends Insider Report

Compare where you live to a new location or multiple areas using current information on community summaries, market stability, schools, listing vs. sold price, buyer vs. seller market, and even smoking bans. 

Market Insider Schedule 
Market Stability Summary
  07302 07030
Median Listing Price*
$504,440
$540,720
Median Days on Market*
86
78
Active Listings*
319
366
Percentage of Distressed Listings*
1.3%
0.3%
Annual Residential Turnover
32%
32%
5+ Years in Residency
14%
15%
Median Years in Residency
2
2

* Single Family Homes and Condos Only

School Summary
  07302 07030
Number of Schools
19
13
Educational Climate Index
High
Above Average
Test Scores    
Number of Students
8,834
4,078
Student Teacher Ratio
11 : 1
13 : 1
Gifted And Talented Schools
1
1
Schools with AP Classes
4
2
 
Price Trends – Sold vs. Listed

Understand the difference between “listing prices” (what sellers are asking for) and “sold prices” (what buyers are willing to pay). 

By comparing these price trends, you’ll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month. 

Some sales are not immediately available from public records. As they become available, the data are updated. 

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Hoboken 07030

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Market Inventory Trends

Review the inventory and health of the market by looking at the number of sold and listed properties.To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer’s market. If inventory is shrinking, then it could be a seller’s market. 

Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer’s market. 

 
 

  • Sold: Properties sold that month
  • New: Listings that are new on the market
  • Distressed: Listings that are short sales, bank owned, or up for auction.
  • Standard: Non-distressed listings
  •  

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    Hoboken 07030

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    Property Ownership

    This chart shows home occupancy within an area. 

    A high percentage of ownership can indicate an area where people like to live and stable property prices. While a high percentage of rentals could indicate an area with shifting demographics, a younger community, or possibly a downtown area. 

    High vacancy rates can indicate that the market is unhealthy and that it could be tough to sell a home in this area. 

     Downtown Jersey City 07302

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    HOBOKEN 07030

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    Fair Market Rents

    The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD). 

      07302 07030
    Studio
    $1,080
    $1,124
    One Bedroom
    $1,141
    $1,188
    Two Bedroom
    $1,332
    $1,386
    Three Bedroom
    $1,614
    $1,680
    Four Bedroom
    $1,738
    $1,809
    Income by Household

    Review the distribution of household income levels in a community. 

    Income levels are listed along the left side of the chart, and the number of households are displayed along the bottom. 

    Downtown jersey City 07302

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    HOBOKEN 07030

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    Crime Risk

    The Crime Risk Index compares the likelihood of different crimes happening within this community to the national average. 

    The national average for each type of crime equals a score of 100. 

    A score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk. 

    DOWNTOWN JERSEY CITY 07302

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    HOBOKEN 07030

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    Education: Highest Level Attained

    Find out the highest level of education achieved by the people within this local market. 

    These levels can help you determine if you want to live in a certain area. 

    DOWNTOWN JERSEY CITY 07302

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    HOBOKEN 07030

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    Weather Risk

    Weather Risk shows you the different kinds of extreme weather in an area, based on historical storm events and weather patterns. 

    The national average for each type of weather event equals a score of 100. 

    A score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk. 

    DOWNTOWN JERSEY CITY 07302

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    HOBOKEN 07030

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    Smoking Ban
  • Neighborhood information provided by Onboard Informatics © 2011 Onboard informatics. Information deemed reliable but not guaranteed.
  • GreatSchools Ratings provided by GreatSchools.org
  •  

    Community Characteristics

    These distinctive characteristics represent factors which have a strong influence on this community. Factors are considered “distinctive” if this community falls into the top 25% for these characteristics nationally. 

    Downtown Jersey City 07302 (NJ)                 Hoboken 07030 (NJ)
    • Nearby Military Facility(ies)
    • Very Rapid Population Growth
    • High Residential Turnover
    • Close Proximity to Sea/Ocean
    • Nearby Military Facility(ies)
    • Distinctive College Community
    • Growing Population
    • High Residential Turnover
    Community Summary
      07302 07030
    Median Age
    34
    31
    Married
    29%
    22%
    Number of Homes
    19,383
    23,598
    Household Size
    2.1
    1.9
    Homes with Children
    21%
    13%
    Total Population
    41,316
    45,326
    Population Growth (since 2000)
    31%
    17%
    Population Density (ppl/mile)
    27,412
    36,263

    Your next market update will be sent on: 

    September 29 

    Linden Moe Linden Moe  (103 Posts)

    Your downtown jersey city condos expert advisor… Certified Real Estate Expert | Realtor | Consultant Team Leader of the “NJ Top Ten Real Estate Experts Team” America’s Elite Real Estate Fax 201-221-7712 | Direct Line 201-839-4927 | Office 201-432-1600 | Linden@BestBuysInNj.com | www.BestBuysInNj.com


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