West New York Vs Weehawken Market Trends

by Linden Moe on October 6, 2011

West New York /Weehawken Views

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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. 

WEST NEW YORK   07093 (NJ)                         WEEHAWKEN 07086 nj
  • Stable Population
  • High Residential Turnover
  • Nearby Military Facility(ies)
  • Growing Population
  • High Residential Turnover
Community Summary
  07093 07086
Median Age
35
35
Married
32%
31%
Number of Homes
21,282
6,165
Household Size
2.6
2.2
Homes with Children
33%
22%
Total Population
55,456
13,710
Population Growth (since 2000)
-1%
3%
Population Density (ppl/mile)
47,104
17,226
Market Stability Summary
  07093 07086
Median Listing Price*
$347,700
$884,270
Median Days on Market*
118
117
Active Listings*
471
124
Percentage of Distressed Listings*
3.6%
0.8%
Annual Residential Turnover
29%
26%
5+ Years in Residency
16%
20%
Median Years in Residency
2
2

* Single Family Homes and Condos Only

School Summary
  07093 07086
Number of Schools
13
4
Educational Climate Index
Average
Above Average
Test Scores    
Number of Students
8,475
1,600
Student Teacher Ratio
14 : 1
12 : 1
Gifted And Talented Schools
6
0
Schools with AP Classes
0
1
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. 

WEST NEW YORK NJ LIST PRICE VS SOLD PRICE 07093

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WEEHAWKEN LIST PRICE VS SOLD PRICE 07086

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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
  •  

    WEST NEW YORK REAL TRENDS REPORT 07093

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    WEEHAWKEN NJ REAL TRENDS REPORT 07086

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    West New York Vs Weehawken Property Ownership Report

    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. 

    WEST NEW YORK OWNERSHIP RATES 07093

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    WEEHAWKEN NJ OWNERSHIP RATES  07086

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    West New York Vs Weehawken nj 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). 

      07093 07086
    Studio
    $944
    $1,042
    One Bedroom
    $997
    $1,101
    Two Bedroom
    $1,164
    $1,284
    Three Bedroom
    $1,411
    $1,557
    Four Bedroom
    $1,519
    $1,676
    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. 

    WEST NEW YORK NJ INCOME LEVELS 07093

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    WEEHAWKEN NJ INCOME LEVELS 07086

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    Crime Risk
    Education: Highest Level Attained
    Weather Risk
    Smoking Ban
  • Neighborhood information provided by Onboard Informatics © 2011 Onboard informatics. Information deemed reliable but not guaranteed.
  • GreatSchools Ratings provided by GreatSchools.org
  •  Reprt Provided Courtesy Of

    Linden Moe

    Certified Real Estate Expert

    Americas Elite Real Estate

    Direct 201-839-4927

    Office 201-432-1600

    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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