Hoboken Condos Vs Downtown Jersey City Condos

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.

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

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.

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.

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.

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.