2008 Feb 13th

The Weekly Wednesday Wrap-Up – Hoboken Property Inventory & Activity

Hoboken Real Estate – As Of Wednesday, February 13th:

Studio & One Bedroom Condos:

Total Active: 126 Under Contract (Dabo’d): 55 Sold (Deals Closed) This Week: 3

New Listings This Week: 18

Two Bedroom Condos:

Total Active: 219 Under Contract: 99 Sold: 1

New Listings: 16

Three Bedroom Condos or Bigger

Total Active: 39 Under Contract: 11 Sold: 1

New Listings: 2

One Family Houses

Total Active: 8 Under Contract: 3 Sold: 0

New Listings: 2

2 – 4 Family Houses

Total Active: 18 Under Contract: 9 Sold: 1

New Listings: 4

Remember – these figures represent only properties listed and sold on the Hudson County multiple listing service. They do NOT include new construction sold directly by developers such as Toll Brothers.

Compare to last week’s real estate activity and inventory.

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  1. Property Articles » Blog Archive » Weekly Wednesday Wrap-Up - Hoboken Property Inventory & Activity

    […] Original post by Lori Turoff […]

  2. RW

    Can you please explain (especially in the 2 bedroom category) how “under contract” is such a large percent of “for sale”, but the actual number sold is so low?

    In other words, if 99 two bedrooms are under contract, how come it looks like so few actually close for a successful sale.

  3. Lori T.

    RW – the reason is because the DABO number is not constrained to properties that went under contract during this past week while the sold number is only properties that sold last week. There is no easy way for me to do a search of DABOs based on time criteria – I’d have to count each one manually day by day and, unfortunately, I just don’t have the time to do that. I can, however, look at sales from a given date to a given date. I hope this clarifies it for you.
    Lori

  4. RW

    The under contract number of 99 is too high given the number of closings. Assuming it takes 4 months at most to go from contract to closing and 2 months at least then closings should roll off at a weekly rate of 6 to 12 per week, which clearly is not happening.

  5. Lori T.

    I double checked the numbers and, despite what you assume should be happening, they do accurately reflect what has been recorded on the MLS. Maybe it is because some of the under contract deals fall apart before they close and go back to active.

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