Comments on: The Weekly Wednesday Wrap Up – December 3rd http://hobokenrealestatenews.com/2008/12/03/the-weekly-wednesday-wrap-up-december-3rd/ What buyers and sellers need to know about Hoboken condos and real estate. Sat, 12 May 2012 19:15:20 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: stan http://hobokenrealestatenews.com/2008/12/03/the-weekly-wednesday-wrap-up-december-3rd/comment-page-1/#comment-827 stan Thu, 04 Dec 2008 18:08:56 +0000 http://hobokenrealestatenews.com/?p=569#comment-827 as an aside, your site and the information on it Lori is top notch. dkzzz- your place sounds great.....love to checdk it out for some laughs. unfortunately, the lower fire price sales will become the norm, I actually don't see these people as giving anything away, I see them as ahead of the curve and getting out from under their holdings. If you wan't your place to move, it has to be one of the most competitive places on the market... as an aside, your site and the information on it Lori is top notch.

dkzzz- your place sounds great…..love to checdk it out for some laughs.

unfortunately, the lower fire price sales will become the norm, I actually don’t see these people as giving anything away, I see them as ahead of the curve and getting out from under their holdings. If you wan’t your place to move, it has to be one of the most competitive places on the market…

]]> By: Lori http://hobokenrealestatenews.com/2008/12/03/the-weekly-wednesday-wrap-up-december-3rd/comment-page-1/#comment-826 Lori Thu, 04 Dec 2008 17:48:51 +0000 http://hobokenrealestatenews.com/?p=569#comment-826 JC I stand corrected - I picked up the wrong number. The average number of sales per month has been 67, not 142. So the correct absorption rate is more like 7.75 months worth of inventory, which makes much more sense. I'm going to go back into the post and change it right now. My bad. As far as what's happening now, I couldn't agree with you more that at 25 per month even with listings down a bit, we've got way too much inventory on hand. Thanks for picking up on that! - Lori JC
I stand corrected – I picked up the wrong number. The average number of sales per month has been 67, not 142. So the correct absorption rate is more like 7.75 months worth of inventory, which makes much more sense. I’m going to go back into the post and change it right now. My bad. As far as what’s happening now, I couldn’t agree with you more that at 25 per month even with listings down a bit, we’ve got way too much inventory on hand. Thanks for picking up on that!
– Lori

]]> By: JC http://hobokenrealestatenews.com/2008/12/03/the-weekly-wednesday-wrap-up-december-3rd/comment-page-1/#comment-825 JC Thu, 04 Dec 2008 17:34:54 +0000 http://hobokenrealestatenews.com/?p=569#comment-825 Lori...if only 4 condos sold this week and this weakness continues your post below will dramatically change. Can we be looking at 25 sales per month for December? That would bring inventory to over a years worth. I know this month the world froze up but the chances we head back up to even 100 sales per month is slim unless mortage rates go down to 4.5% "Right now, there are about 519 Hoboken condo units for sale. At the rate of 142 sales per month, it would take 3.6 months for the current condo inventory in Hoboken to sell out. If we omit the abnormally high month of March from the average, the absorption rate would still be 3.9" Lori…if only 4 condos sold this week and this weakness continues your post below will dramatically change. Can we be looking at 25 sales per month for December? That would bring inventory to over a years worth. I know this month the world froze up but the chances we head back up to even 100 sales per month is slim unless mortage rates go down to 4.5%

“Right now, there are about 519 Hoboken condo units for sale. At the rate of 142 sales per month, it would take 3.6 months for the current condo inventory in Hoboken to sell out. If we omit the abnormally high month of March from the average, the absorption rate would still be 3.9″

]]>