2008 Oct 8th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity – Week of Oct. 8

Studio & 1 Bedroom Hoboken Condos:

9 sold in 89 days at a sale price of $398,088
View 1BR SOLD Listings

1 under contract this week in an average of 31 days View 1BR DABOs

172 total active with an average asking price of $484,974 View 1BR ACTIVE Listings

18 new listing with an average list price of $451,816 View 1BR NEW Listings

Two Bedroom Hoboken Condos:

9 sold in an average of 96 days at an average sale price of $644,183
View 2BR SOLD Listings

2 under contract this week in an average of 68 days View 2BR DABO Listings

285 total active with an average asking price of $667,613
View 2BR ACTIVE (first group of 150 properties)

View 2BR ACTIVE (rest of properties)

(I can only link a maximum of 200 at a time)

16 new listings with an average list price of $626,645 View 2BR NEW Listings

Three Bedroom and Larger Hoboken Condos:

1 sold this week in 413 days at $1,363,978 View 3BR SOLD Listings

None under contract this week.

57 active 3BR condos for sale with an average asking price of $1,022,235 View 3BR ACTIVE Listings

1 new with an average asking price of $720,000  View 3BR NEW Listings

Compare to last week: Week Of Sept. 30

PRICE CHANGES ON HOBOKEN CONDOS FOR SALE

42 listings with price changes on Hoboken condos for the past 7 days:  View PRICE CHANGES 

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  1. Bill

    I find it very hard to believe some of the sale prices on the 2 bedrooms listed here can be accurate. I would like to know who in their right mind would actually pay over ask in this market? Not only that, but some of these places were back on Jackson – where I’m sure there’s a flood of inventory overhang, not to mention it’s one least desirable area’s in town. Basically, what this is telling me is that of the 9 places which sold, one third of them were above the list price, and two of them were for 100% of the offer. Is this 2005? Sadly, it’s far from it, and these numbers are even further from accurate.

  2. stan

    Bill,

    I noticed that too, those places on jackson were originally asking 525k so they did sell for less than originally planned. The ariel or whatever it is, needless to say whoever paid 525 is in serious trouble, tough location.

  3. Lori

    The sales prices come directly from the MLS which is the best source available. If you like, you can cross check them with the tax records when the properties with mortgages are recorded. We don’t create the numbers, we just report them. Perhaps the figures include some sort of incentives that weren’t in the initial asking price, like parking, free maintenance, closing costs or upgrades.

    – Lori

  4. JC

    Look at the NY times RE section…”residential sales from around the region” There were 3 properties sold for above asking and a few that sold for list price. These properties were in NYC, Greenwich CT, and a suburb of Jersey…while true not a Jackson Street type of location.

    Lori is right, we dont see any incentives or deals behind the scenes. Maybe it was seller financed at 5% 30 year fixed? I doubt it. Or maybe buyer wanted to upgrade unit with Viking appliances and purcahse an additional parking spot, this would cause price to be higher than original asking. Who knows.

  5. Liz

    It’s just hard to believe that condos back on Jackson street are selling for asking price in this market. These people must be out of their minds to pay those prices when there is so much inventory in Hoboken.

  6. Lori

    Two of the listings that sold (800 Jackson) are in MetroHomes new building, MetroStop. It is being marketed as a ‘high-end’ project and the location is right at and practically on top of the 9th Street Light Rail station so it’s not quite the same at Jackson at midtown. In fact, the low priced 2 bedroom at 636 5th Street (on Jackson) sold for only $469,000 even though it’s about the same size as the MetroStop units (1100 sq. ft.). Some people just want brand new units with an elevator and parking, etc. and are willing to sacrifice location. The other 2 bedrooms are at 89 Willow, another brand new building in a good location.

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