Archive for July, 2008
The Weekly Wednesday Wrap-Up - Hoboken Condos For Sale, Under Contract & Sold
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Studio & 1 Bedroom Condos:
12 units sold for an average sale price of $391,895Click Here to View Sold Listings
71 units under contract - Click Here to View Dabo Listings
8 new listings - Click Here to View New Listings
Two Bedroom Condos:
10 units sold for an average sale price of $526,100
Click Here to View Sold Listings
111 units under contract - Click Here to View Dabo Listings
14 new listings - Click Here to View New Listings
Three Bedroom and Larger Condos:
none sold
12 under contract - Click Here to View Dabo Listings
no new listings
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Does Size Really Matter? When it Comes to Hoboken Condo Sales - Not Much
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Size of Hoboken Condos Has Stayed The Same Over Time
One reason the average price of Hoboken condos might have risen so consistently over the past decade might have been due to the size of those condos increasing over time. That is not the case. Size has remained pretty consistent. The average has been right around 1000 square feet for quite some time.
So What Does A Square Foot Cost in Hoboken?
The average price per square foot of a Hoboken condo has risen along with the average sales price. Here are the visuals:
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Condo Sale Prices - Manhattan vs. Hoboken
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
How does Hoboken Compare to Manhattan?
A big part of the reason Hoboken condo prices and the Hoboken real estate market in general has been and remained solid is because of the influence of the Manhattan real estate market’s strength. Here is a very informative visual tracking the two real estate markets performance, by way of average sales price, since 2000. The Manhattan figures include both condos and coops.
This chart shows the spread between the average sales prices in the two markets:
Here are the numbers:
It’s interesting that the most current drop is due, not to a decline in Hoboken condo prices, but to a drop in Manhattan prices.
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Hoboken Condos - How Much Should I Offer?
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Buyers Always Want to Know: “Can I Buy That Condo for Less Than Asking Price?”
Most of the time, yes. Sometimes, like from the middle of 2002 to the end of 2004, no. Right now, Hoboken condos sell for about 2% off the list price. Keep in mind, if the condo was re-listed at a lower price, that is not reflected in these numbers. Here is a chart showing, on average, how much off the list price Hoboken condos actually sold for over the past 8 years by quarter:
Here are the numbers:
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Hoboken Condo Sales - How Many Condos Have Actually Sold?
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Why the Volatility in Number of Hoboken Condos Sold?
The Hoboken real estate market is full of surprises. It’s especially interesting to me to see the average price of Hoboken condos sold follow such a visible upward trend while the actual number of units sold seems to fluctuate quite a bit. I wonder if the number of new construction units sold off of the MLS were added to these figures the line might be less volatile. Unfortunately, I don’t have a simple way to include those Hoboken sales.
Here is the chart:
Here are the underlying numbers:
See also: Days on Market
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