Hoboken Real Estate Market Results Are Mixed
For the month of February the average sales price of condos sold was $537,688 – higher than February ’07 but down a bit from last month. See chart below. Similarly, the average asking price of a Hoboken condo listed on the MLS ($557,795) is up from last year but down from last month.
Interestingly, the median sales price is up almost 10% and is now at $545,000 due to a number of pricey Observer Lofts closings included in the February numbers. Without those closings, the median would have been $495,000.
Average price per square foot for a Hoboken condo listed on the MLS is now at $494. Last month it was $497 and a year ago February was $509.
What’s the Inventory of Hoboken Condos ?
The number of listings for the month of February 122 was slightly higher than in January – 118. Still quite a bit lower than this time last year when there were 155 listings in January and 131 in February.
Hoboken Condos Linger Longer .
Average number of days on the market was 85in February versus 65 in January. It’s taking Hoboken Condos longer to sell compared to years like ’06, when the number was in the 60’s.