Research, analysis & post by Lori Turoff
What’s new in Hoboken?
We’ve got a fiscal stimulus bill with some benefits for some home buyers, (the details of which are still a bit murky) yet the NY Times reports that homes sales are at the slowest pace in a more than a decade. Recent Hoboken sales activity certainly seems follow that trend.
- 518 active Hoboken condo units today, up from 510 last week.
- 35 price reductions vs. 23 a week ago
- 7 dabos (under contract), 8 last week
- 3 sold vs. 4 last week
- 26 new listings vs. 40 last week
- 5 expired listings vs. 10 last week
- 6 withdrawn listings vs. 0 last week
In just a few days I’ll have the the monthly numbers for February so check back to see the results.
Studio & 1 Bedroom Hoboken Condos:
170 total active – $448,902 average asking price. 93 average DOM so far.
4 Dabos – 253 DOM.
- 307 1st St #2 – Listed for $479K in Jan. ’08; reduced to 459K in June; reduced to $399K in Feb.
- 307 1st #4 St – Listed for $495K in Oct. ’08; reduced to $475K in June; reduced to $409K in Feb.
2 sold – $374,450 average sales price. 56 average DOM.
- 163 14th St – Listed at $429K on Sept. 26; reduced to $414.9K in Nov; reduced to $389.9K in Dec.
- 450 7th St. – (The Citadel) – This unit sold for OVER ASKING in 8 days! It was very underpriced and beautifully renovated compared to other units at The Citadel. There are deals out there but buyers have to act with the speed of lightening and be prepared to pay. There’s no offering 15% off asking and getting a unit priced like this one.
13 new listings – average list price $391,223.
Two Bedroom Hoboken Condos:
291 total active – average asking price $659,773. 112 DOM so far.
3 dabos – after 78 average DOM
- 839 Willow – Listed at $345K in Nov; reduced to $335K in Dec.
- 210 Jackson – Listed at $474.9K in Oct; reduced to 445K in Jan; reduced to 429K in Feb.
1 sale – at $619,000 sale price, 120 DOM .
- 812 Grand (The Huntington) listed at $649K on Sept. 2; reduced to $629K inOct; reduced to 619K in Dec.
15 new 2BR listings – average list price $639,037.
Three Bedroom and Larger Hoboken Condos:
57 active 3BR condos – average asking price $1,158,664. 140 DOM so far.
None went under contract.
No new 3 bedroom listings.
Hoboken Condo Open Houses
If you are in the market for a Hoboken condo, don’t forget to check our Hoboken Open House Google Map on Friday, Saturday & Sunday to see if any of the new listings (or old ones) are having open houses this weekend. The map is updated every week so even if your google search seems to pull up an older version, when you click on the link you’ll see the current version.