2008 Jun 25th

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

Italy Trumps Hoboken

So I’m in Italy on vacation but I couldn’t resist checking and posting the figures.  Given that I can choose to spend my time thinking about Hoboken real estate or eating gelato and riding my bike in the beautiful Italian countryside, sorry, for this week when it comes to my priorities, Italy wins.  But here are this week’s numbers, nonetheless.  It’s more of the same – more units for sale and steady numbers of sales resulting in a continued build-up of Hoboken condos for sale.

Hoboken Real Estate – Condo Sales and Inventory As Of June 25th.

Studio & One Bedroom Condos:

Total Active: 142  Under Contract (Dabo’d):   86

Sold (Deals Closed) This Week:  2

Average Sold Price: $502,000

New Listings This Week:   5

Two Bedroom Condos:

Total Active: 303   Under Contract: 114

Sold:  6

Average Sold Price: $591,166

New Listings:   25

Three Bedroom Condos or Bigger

Total Active: 54   Under Contract:  12

Sold: 1

Price: $650,000

New Listings:   2

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  1. Arg

    Wow even a bigger gap this week with 2br listings Vs sales.

    Even using 10 sales per week this is 7.5 months of inventory, it would be 12.6 using 6 sales!

    When do you see sales and listings equalizing to clear out some of the inventory? What will it take for this to happen?

  2. Lori Turoff

    I wish I could answer that question – but, really, who knows what will happen going forward? On the one hand, the economy and the stock market are gloomy. On the other hand, Hoboken is a great place to live, you don’t need a car (see zillow.com’s new ‘walkabiliby index’), and it’s still less than half the price of Manhattan. A surge in sales would be great but with new listings growing by the day, it would take quite a bit of activity to deplete the backlog. We are still in much better shape than so many other neighborhoods. I will be posting the mid year results in a few weeks.
    – Lori

  3. Jane

    Is this the most recent Wednesday weekly wrap up? Any reason this has been discontinued? Thanks.

  4. Darryle Knight

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