| 4th Quarter 2009 |
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"The supply of homes on the market is now at the lowest level in over two and a half years -- we're getting closer to a general balance between buyers and sellers," said Lawrence Yun, NAR chief economist.
T h e D a n i e l s R e p o r t - 4th Quarter 2009 Gold Coast (Hob & JC)
- Hudson County homes sold 4% faster than Q3 2009 and number of sales increased 21% compared to Q3 2009!
- Hudson County 3 consecutive quarters of increased sales closed.
- Absorption rates of standing inventory in Downtown Jersey City (9%) and Hoboken (15%) both improvements over Q3 2009.
- Hoboken number of closed sales increased 32% compared to Q4 last year!
- Nationally: 10 consecutive months of increased pending sales.
T h e D a n i e l s R e p o r t - 4th Quarter 2009 Essex County
- Essex County sales increased 71% in Q4 2009 compare to Q4 2008!
- South Orange number of sales increased 31% in Q4 2008 compared to last quarter (Q3 2009) !
- Absorption rates of standing inventory in Essex County are up dramatically!
- $5 million sale in Short Hills(Millburn)!
- Nationally: 10 consecutive months of increased pending sales!
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4th Quarter
Gold Coast (Hob & JC)
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4th Quarter
Essex County
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| 3rd Quarter 2009 |
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Economist generally feel that three consecutive quarters of a similar result indicates a trend. We are well on our way towards a housing market recovery trend.
T h e D a n i e l s R e p o r t - 3rd Quarter 2009 Gold Coast (Hob & JC)
- Hudson County Prices increased 5% and number of sales increased 15% compared to Q2 2009!
- Hudson County 2 consecutive quarters of increased sales closed.
- + Absorption rate of standing inventory in Downtown Jersey City (6.5%) and Hoboken (11.1%).
- Hoboken number of closed sales increased 56% compared to Q2!
- Downtown Jersey City sales prices increased 4%.
- Nationally: 7 consecutive months of increased pending sales.
T h e D a n i e l s R e p o r t - 3rd Quarter 2009 Essex County
- Essex County Prices increased 6% and number of sales increased 30% compared to Q2 2009!
- Essex County 2 consecutive quarters of increased sales closed.
- Number of closed sales in Montclair increased 49% in Q3 compared to Q2.
- Q3 closed sales in West Orange increased 25% compared to 1 year ago!
- Number of closed sales in Maplewood increased 51% in Q3 compared to Q2.
- Absorption rate of standing inventory increased to 13% County wide.
- Nationally: 7 consecutive months of increased pending sales.
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3rd Quarter
Gold Coast (Hob & JC)
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3rd Quarter
Essex County
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| 2nd Quarter 2009 |
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This has been one of the most positive stretches since 2005 with regard to the number of sales. Most experts have indicated that we are past the worst of the housing recession. .
T h e D a n i e l s R e p o r t - 2nd Quarter 2009 Gold Coast (Hob & JC)
- Hudson County number of sales Increased 26% compared to the 1st Quarter.
- Downtown Jersey City sales % of Asking price increase 3% indicating that homes were priced much better in the 2nd Quarter.
- Hoboken number of sales has INCREASED 32% since the 1st Quarter of 2009.
- Deadline for 1st Time Home buyer $8,000 Tax credit is December 1, 2009.
- Hudson County Home Inventory has decreased compared to 1st Quarter 2009.
T h e D a n i e l s R e p o r t - 2nd Quarter 2009 Essex County
- Essex County number of sales INCREASED 88% and Prices have INCREASED 7% compared to the 1st Quarter 2009!
- The Number of Sales has increased in each of the four target areas in this report and the increases are amazing. These are the 2nd Quarter results compared to 1st Quarter 2009. (Maplewood increased 62%, Montclair increased 166%, South Orange increased 105%, West Orange increased 165%)
- Prices increased in Maplewood by 15% compared to the 1st Quarter of 2009.
- Deadline for 1st Time Home buyer $8,000 Tax credit is December 1, 2009.
- Essex County Home Inventory has decreased compared to 1st Quarter 2009.
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2nd Quarter
Gold Coast (Hob & JC)
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2nd Quarter
Essex County
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| 1st Quarter 2009 |
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The statistics appear to continue the decline in sales , prices and consumer confidence in real estate, yet there are some reasons for optimism. There are more positive signs in our market now than we have seen in 4 years.
T h e D a n i e l s R e p o r t - 1st Quarter 2009 Gold Coast (Hob & JC)
- Hudson County 1st Quarter 2009 Prices dropped 13% from 4th Quarter 2008.
- Downtown Jersey City Prices dropped 4% from Q4 2008 to Q1 2009.
- Number of Sales in Downtown Jersey City in the 1st Quarter 2009 decreased 21% compared to the last quarter.
- Hoboken prices INCREASED 10% compared to last quater (4th Quarter 2008)!
- Sales decreased in Hoboken significantly, 37% from 4th Quarter 2008 to 1st Quarter 2009.
- Only 4% of Downtown Jersey City's inventory is selling each month and only 5% of Hoboken's inventory is selling each month.
T h e D a n i e l s R e p o r t - 1st Quarter 2009 Essex County
- Essex County prices decreased 8% from Q4 2008 compared to Q1 2009.
- The number of sales decreased 21% in Essex County in Q1 2009 compared to Q4 2008.
- South Orange's Prices actually increased by 1% but the number of sales decreased 30% in the 1st Quarter 2009 compared to Q4 2008.
- West Orange's number of sales decreased 44% compared to the previsous quarter.
- Montclair's Prices decreased by 9% but the number of sales decreased 38% in the 1st Quarter 2009 compared to Q4 2008.
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1st Quarter
Gold Coast (Hob & JC)
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1st Quarter
Essex County
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| 4th Quarter 2008 |
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4th Quarter
Gold Coast (Hob & JC)
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4th Quarter
Essex County
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| 3rd Quarter 2008 |
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3rd Quarter
Gold Coast (Hob & JC)
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3rd Quarter
Essex County
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| 2nd Quarter 2008 |
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2nd Quarter
Gold Coast (Hob & JC)
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2nd Quarter
Hudson County
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2nd Quarter
Essex County
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