2008 Aug 6th

The Weekly Wednesday Wrap-Up – Hoboken Condos For Sale, Under Contract & Sold

The Dabo Dilemma  

Thanks to one of your comments last week,  it has become apparent that some agents aren’t doing their jobs.  When looking at the listings in the MLS categorized as “dabo’d” (under contract), a significant number of those listings are actually not active deals.  They have died somewhere in the process between being put under contract and before actually closing.  How do we know this?  Well, when you look at one of these listings, the MLS number is in the 6000 or 7000 series instead of the 8000 series, the listing date is very old, the under contract date is old and there is no closing date.  The listing agent for these properties probably should have changed the status to expired or withdrawn when the deal fell apart.  Instead, they languish in the MLS as dabo messing up my numbers. 

To give you the best and most accurate information on the Hoboken real estate market, , I have taken the time to look at each listing and ascertain, to the best of my ability, which are the stale dabos and which are legit.  It’s pretty easy to tell when the under contract date is, for example, March 1, 2008 and the closing date is some day after today.  That deal is still being negotiated, the buyer is obtaining financing, or the seller didn’t want to close until some certain date, perhaps because the seller bought something else that he or she is moving into.  So, hopefully, these dabo numbers will be the real dabos and not the stale, dead deals.  For next week, I will attempt to weed out only the new dabos for the week, in other words, only those properties that went under contract from week to week. 

Studio & 1 Bedroom Condos:

 7 units sold for an average sale price of $418,842  – View Sold Listings

 54 units under contract –   View Dabo Listings

143 active listings with an average list price of $488,579

6 new listings – View New Listings

Two Bedroom Condos:

8 units sold for an average sale price of $575,375 – View Sold Listings

82 units under contract – View Dabo Listings

10 new listings – Click Here to View Listings

273 active listings with an average list price of $670,077

Three Bedroom and Larger Condos:

none sold

5 under contract – View Dabo Listings

2 new listings –  View New Listings

49 active listings with an average list price of  $1,053,350

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