Comments on: The Weekly Wednesday Wrap-Up – Hoboken Condo Sales Activity & Inventory

By: Tiger

Tiger — Tue, 17 Jun 2008 13:08:52 +0000

Thanks guys. I guess there is no question that inventory is building up in Hoboken. However, we still have good numbers compared to the rest of the country, which is always good

By: Lori

Lori — Fri, 13 Jun 2008 19:12:46 +0000

Here is the answer:

At MetroStop, there are only 53 units (of all sizes) on the MLS as active. (10 more are under contract, none sold). There are 4 active at Observer Lofts. (6 under contract, 15 sold). Remember, developers often “sell” with refundable deposit contracts. While the may all have been ’sold’ a few months ago, people cancel their contracts when there is little or no penalty other than rising prices the longer they wait to sign on for new construction.

Yes, more families with children are staying in Hoboken longer but our school system remains an incentive for them to move out to the ‘burbs at the point when their kids are ready for school – especially high school. From what I’ve been told by friends with more knowledge about this than myself, we may really be on the brink of a change for the better due to our new superintendent of schools and some other factors.
-Lori

By: Doug

Doug — Fri, 13 Jun 2008 15:44:54 +0000

Tiger – the demographics of Hoboken have been changing rather drastically over the past few years. There are many more young families. In fact, I bet that as gas prices continue to rise, Hoboken 2 BM’s will start to do very well as families will see more “value” in living in a commuter friendly place like Hoboken. Its just a downturn in the market…Hoboken will be ok.

By the way, I just saw the previous poster’s comment on Observer Lofts – that is true. A friend of mine bought there about 2 months ago, and as of that time, there were 2 units left, so it may be sold out by now.