By Lori Turoff
Yet Another Week With Little Activity In The Hoboken Condo Market
As of this minute there are a whopping 516 Hoboken condo units active. While there haven’t been many new listings, there have been even fewer sales. Price reductions are becoming the norm. Inventory continues to build. Where it will end, nobody knows.
Studio & 1 Bedroom Hoboken Condos:
2 sold in an average of 23 days at an average sale price of $572,500
1 under contract this week in an average of 77 days.
Note – Only properties with price drops are listed. The others went under contract or were sold at their original asking price. From this you can see how far sellers had to drop the price to get some action.
5 new listings with an average list price of $439,400
Two Bedroom Hoboken Condos:
2 2BRs sold in an average of 139 days at an average sale price of $415,250
Original list prices:
717 Adams listed at $439,900 in June reduced to $419,900
209 Adams listed at $449,000 in March reduced to $429,000
1 2BR under contract this week in an average of 98 days.
68 active 2 BR condos up to $500,000
224 active 2BR condos over $500,000
The combined average asking price of all 291 active 2BR condos is $653,905 with 14 price changes.
3 new 2BR listings with an average list price of $657,666
Three Bedroom and Larger Hoboken Condos:
None under contract
None sold this week.
1 new listings with a list price of $859,000