2008 Jun 20th
The Weekly Wednesday Wrap Up – Hoboken Property Inventory & Activity
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Hoboken Real Estate – Condo Sales and Inventory As Of June 18th
Hoboken condo inventory continues to increase even though it’s summer time, traditionally a slower season for putting properties on the market. Next week will be the end of the first half of the month and I’ll post a full report on market activity at the start of July.
Studio & One Bedroom Condos:
Total Active: 151 Under Contract (Dabo’d): 79
Sold (Deals Closed) This Week: 8
Average Sold Price: $395,875
New Listings This Week: 8
Two Bedroom Condos:
Total Active: 299 Under Contract: 116
Sold: 10
Average Sold Price: $596,700
New Listings: 32
Three Bedroom Condos or Bigger
Total Active: 55 Under Contract: 13
Sold: 4
Price: $641,250
New Listings: 3
Your website is very helpful for people looking to buy real estate in Hoboken. Is there any chance you could break out the sale prices of the three bedroom condos or bigger?
Thanks MAC. I’m not sure what you mean. I’d be happy to try but could you explain a bit more? Do you want to know what 3 brs are selling for right now, on average?
– Lori
I was interested in a breakdown of the individual prices for the 4 three bedroom or bigger condos, if you had that information.
Sure –
Asking: Sold: Address
599K 570K 536 Bloom
669K 650K 501 9th
669K 650K 65 Jeff
725K 695K 514 Adams
Thank you! This is very helpful/interesting!
It’s interesting how much the 2BR inventory is increasing. I had no idea Hoboken had that many 2BR to begin with. I wonder if that’s going to affect the seemingly-still-limited 1 BR market (i.e. 2 BR prices will become close to the 1 BR prices).
Lori you’re the best! Thanks so much for posting the statistics every week and for the great posts!!
Glad you find it useful Tiger. I’ll be posting the mid-year figures in early July – after I return from vacation in Italy! That should be pretty interesting. I’ve got quarterly figures going back a number of years. In the meantime, there will be a few other tidbits over the next few weeks. I may not be able to do the Wednesday figures if I can’t access the MLS while in Europe. We’ll see.
– Lori
thanks lori for very helpful and informative source
you mentioned that summer is usually slower time for posting properties.
what will be a better time? I am about to extend my lease to have more time for search. ou think 3 month would be enough? 6 months? please advise
rob
Lori your site rocks!
Rob
It’s hard to say since it depends what you are looking for. For example, it’s much easier to find a two bedroom condo than a brownstone since there is a much greater supply of them on the market. It also depends who your landlord is and how flexible they would be. I have heard horror stories about tenants trying to get out of their leases with Applied Housing (333 River, The Vanguard & The Sovereign). Individuals who rent out their condo may be much more willing to work with you provided the unit does not go vacant.
Arg – thanks! Glad it’s helpful.
– Lori
lori,
regarding the 3 bedroom sales, what was the square fottage of those units?