Research, analysis & post by Lori Turoff
Last weeks’ Weekly Wednesday Wrap-Up resulted in a great discussion in the comments on the current state of the market and where you all think it is headed. Your thoughts, views and contributions make this so much more valuable to us all.
This week also had many price reductions before things got sold or went under contract. I can’t help but wonder if the owner of the unit originally listed at $454,900 wouldn’t have done better than $405,000 had they initially listed it for less.
If you’d like to see the quarterly sales result numbers from 2000 to date send me an email ([email protected]) with words “Quarterly Hoboken Figures” in the subject and I’ll invite you to view the googledoc spreadsheet. Happy Passover, happy Easter, happy Spring and happy, happy, happy Opening Day – now if only we had some warm weather!
The Hoboken Condo Weekly Numbers
- 533 active Hoboken condo units today – same as last week.
- 23 price reductions vs. 32 a week ago
- 6 dabos (under contract) vs. 8 last week
- 6 sold vs. 8 last week
- 35 new listings vs. 24 last week
- 8 expired listings vs. 10 last week
- 10 withdrawn listings vs. 8 last week
Studio & 1 Bedroom Hoboken Condos:
197 total active – $431,923 average asking price. 85 average DOM.
3 dabos after 119 DOM.
- 152 6th Street listed at 335K Nov.24; reduced to 315K in Jan; 299K in Feb.
- 418 Jeff listed at 435.9K Jan.20; reduced to 434.9K Jan 20. (same day?)
- 551 Observer listed at 489K Oct. 28 reduced to 449 in Dec.
5 sold – $379,000 sales price. 101 DOM.
- 920 Jeff listed for 395K Jan 5; reduced to 369K Jan 30; sold for 370K.
- 931 Willow listed for 449K in Oct; reduced to 429K in Oct; 399K in Nov; sold for 390K.
- 1115 Grand listed for 464.9K in Aug; reduced to 450K in Sept; 439.9K in Oct; 425K in Oct; sold for 405K.
8 new listings – average list price $514,374.
Two Bedroom Hoboken Condos:
279 total active – average asking price $643,673. 114 DOM so far.
4 dabo’d. 111 DOM
- 609 Observer – 710K in July; 635K in Dec; 595K in Jan; 575K in Jan; 498K in Feb.
- 102 Park – 559K in Jan; reduced to 539K in March.
1 sold – $582,500 sales price. 25 DOM.
15 new listings – average list price $556,451.
Three Bedroom and Larger Hoboken Condos:
57 active 3BR condos – average asking price $980,639. 138 DOM so far.
None under contract.
4 new listings average list price $922,500.
Hoboken Condo Open Houses
If you are in the market for a Hoboken condo, our once again improved Hoboken Open House Google Map is your single best source for info on every open house in Hoboken. It’s posted on Friday every week. The info is updated weekly. If your google search seems to pull up an older version, click on the title link to get the most current map.