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.