2008 Jul 17th

The (New Improved) Wednesday Weekly Wrap-Up – Hoboken Condo Sales & Activity

Hoboken Real Estate – Condo Sales and Inventory As Of July 16th.

Here’s a new bit of info for you – I’m posting a link to the actual listings in each size category for the new listings and sold listings each week. Click on the links and you can see what is newly listed as well as the actual units that have sold and the selling price. Hope you find it interesting!

Studio & One Bedroom Condos:

Total Active: 158 Under Contract (Dabo’d): 74

Sold (Deals Closed) This Week:  8

Average Sold Price: $341,187 Click Here to View Sold Listings

New Listings This Week: 16 Click Here to View New Listings

Two Bedroom Condos:

Total Active: 287 Under Contract: 114

Sold: 17 Click Here to View Sold Listings

Average Sold Price: $571,205

New Listings: 24 Click Here to View New Listings

Three Bedroom Condos or Bigger

Total Active: 57 Under Contract: 9

Sold:  2  Click Here to View Sold Listings

Price: $669,250

New Listings:  2 Click Here to View New Listings

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  1. aimi

    thank you for posting this new information.

    it is very helpful, especially seeing the sold listings.

  2. Lori

    Excellent. I’ll continue doing it this way.

  3. JT

    This is a great addition! Very convenient way to keep an eye on new listings.

  4. JC

    Thanks Lori, extremely helpful!

  5. JC

    clicking through the sold listings, its interesting how many sales over list there are. I think I counted three. Are these accurate?

    I also couldnt help but notice how many listings there are for properties West of Willow. Not many listings for “prime” Hoboken of Hudson, Washington, Bloomfield, or Garden. Lori, with the the limited supply of homes for sale on these streets, would you say eastern Hoboken is a different market than western?

  6. Lori

    Since the 1800’s when Hoboken was first ‘developed’ the most desirable part of town has been along the Hudson River. That is why all the large, single family homes were built there at the turn of the century. That is why the larger, more elaborate brownstones are there. Over 100+ years, the east side of Hoboken has been the more sought after neighborhood. When Joe Barry took a gamble on ‘luxury’ housing the location he chose for the Shipyard complex was the easternmost part of town. Most recently, Toll Brothers invested heavily and developed Hudson Tea and Harborside Lofts and built Maxwell Place on the Hudson. The W Hotel is rising overlooking the river. The east side of town has river views or proximity to the river and parks, better transportation, more shopping, many restaurants and has always had prestige. In my opinion there is a real premium for Hoboken properties that are east of Park. The more things change, the more they stay the same…

  7. aimi

    hi lori,

    I have been living in Hoboken since 1989. I remember when it was commonplace for people to say “stay east of park”…somehow, as they keep developing the western parts of town, it seems like the line of “park ave.” has sort of moved…to include a few other streets west of park as “better areas”…would you agree?

  8. Lori Turoff

    Aimi,
    I agree that there are some nice buildings west of Park, especially along what I like to refer to as the ‘9th Street corridor’. These buildings are popular because they are fairly new, have elevators, w/d’s in the units and deeded parking. 9th Street is convenient thanks to the light rail, Columbus Park and the Shoprite being nearby but out of sight. Nonetheless, the east side of Hoboken, in general, is still more desirable and commands a price premium. I don’t believe that will ever change, especially as the west side becomes ever more dense with no open space and flooding problems continue. Just my opinion but I stick to it.
    – Lori

  9. JerseyRED

    Lori,

    Can you collect June’s ’08 median price data and compare it to JUne of the last 3 years and psot that as well?

    Thanks

  10. Lori

    Will do but a bit later today.

  11. JerseyRED

    Thanks!

    I believe Y-O-Y data shows a truer trend than week over week or month over month data.

    Thanks again!

  12. frink

    In response to the question by JC: “clicking through the sold listings, its interesting how many sales over list there are. I think I counted three. Are these accurate?”

    I can teel you that, for one, my sale over list is accurate, so that would be a good sign that the rest are as well…

  13. Lori

    Properties selling for over asking price in Hoboken – yes, it is true. The figures are as accurate as can be since the come straight from the Hudson County MLS system. There is really no way to misrepresent the asking price or the sold price. If you want to double check you could always check the tax records (but there is a time lag). If a property is priced right and in a good location it will sell. Multiple bids still happen. I have a new listing that has received 2 offers in 2 days. The Hoboken market is still quite active and there is demand for the premium properties. They do often sell for above asking.
    -Lori

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