Housing Inventory and What Spring Means For the Market

Housing inventory hit a new low in the first quarter of 2017, bottoming out from the early days of the recovery from the recession, according to Trulia’s recently released quarterly Inventory and Price Watch. Homeowners have not been in a hurry to trade up, adding to the inventory gridlock that ties up would-be “starter home” inventory from coming on to the market. To read more, visit RIS Media .

The Hudson County Division of Housing and Development is working to create a countywide registration of foreclosed and vacant properties. “This is for the health and safety of all residents in neighborhoods with foreclosed properties,” says Town Attorney Keri Ann Eglentowicz. To learn more about the announcement, visit Hudson Reporter or read more: Hudson Reporter – Tracking abandoned homes Council moves to join county wide program registering foreclosed properties

Proposed Towers | Credit: STUDIO V Design & Planning and Curtesy of Jersey Digs

Spring is finally here and it’s an EXCELLENT time to SELL! According to Clear Capital’s recently released Home Data Index (HDI) Market Report, the national median days on market is 43 days– down from an 85-day stretch in January 2012. Home price growth in the first quarter of 2017 was 0.9 percent, according to the report, with quarterly growth across regions between 0.8 percent and 1 percent. Give us a call here, at Hudson Gold, to discuss your opportunities and home value!

New Developments coming to Jersey City:

Local developer Silverman Building is looking to leave their mark on Jersey City’s skyline by constructing their first legitimate high-rise. The project, located at 331 Marin Boulevard just steps from the Grove Street PATH station, would be a mixed-use building that would top out at 41 stories.

A new mixed-use project is being proposed for 332-336 Newark Avenue, between 4th Street and 5th Street, in Jersey City’s Ward E. City records show that the company, 332 Newark Avenue Lofts, LLC, is planning a six-story building with 18 residential units and 1,030 square feet of retail space on the ground floor. In addition, four parking spaces are slated to be included on the ground floor, and there are plans for a 1,000 square foot green roof along with a 500 square foot common roof deck.

Plans have been posted for a new mixed-use transit-oriented complex at 808 Pavonia Avenue, a lot located in Ward C adjacent to the Loew’s Jersey Theatre, the PATH tracks, and several houses just off of Tonnelle Avenue. A website launched earlier this month, that provides comprehensive information on the project as it moves through the approval process, states that the new development “provides a restart for Journal Square to recreate the Square at the center for arts and entertainment…”

331 Marin Blvd, 332-336 Newark Avenue and 808 Pavonia Avenue are just a few of nearly 200 new projects planned for Jersey City. See all the upcoming projects on Jersey Digs’ recently updated Jersey City Development Map. 

Weekend Vibes:

And visit Jersey City Upfront to check out what’s happening in your neck of the woods, this weekend!