Research, analysis & post by Lori Turoff
The Hoboken Condo Weekly Numbers
A few things struck me as I prepared this today. First, that we are not far away from breaking the 600 mark in the total number of active units. Not a good sign. Next, there are some amazing deals out there. Whoever bought the 2 bedroom at 904 Jefferson (which I saw and it was lovely) got a great deal. The price was dropped $100,000! With regard to the Case Shiller results many of you have been mentioning in the comments – they are taken from stats pertaining to homes in the area – that means all of the surrounding area. Not just Hoboken. Not just condos. They include lots of properties that have no bearing on our results. So I take them for what they are worth – a guide, but not anything definitive. In fact, there’s been some controversy about them in the WSJ. Finally, in all these stats, there is only 1 short sale. That is a good sign. So enjoy and more important than ANYTHING if you care about Hoboken and your property value:
Please Go Out and Vote on May 12th!
Here are this weeks stats:
- 576 active Hoboken condo units today – 549 last week.
- 45 price reductions (including a bunch at the Garden Street Lofts) vs. 41 a week ago
- 7 dabos (under contract) vs. 13 last week
- 11 sold vs. 7 last week. (Plus 4 more just reported sold that actually closed dating back as far as January!)
- 50 new listings vs. 35 last week
- 1 expired listings vs. 5 last week
- no withdrawn listings vs. 11 last week
Studio & 1 Bedroom Hoboken Condos:
204 total active – $424,364 average asking price. 93 average DOM.
1 dabos after 36 DOM.
- 123 Washington – listed at $365k in March; reduced to $350k April 3.
5 sold $366,000 average price. 177 average DOM.
- 152 6th St – listed at $355k in Oct; reduced to $339k Oct. 31; $319k Jan 9; sold for $314.5k.
- 1222 Wash – listed at $419k in Oct; reduced to $409k Oct. 28; $395 Oct. 28; $391k Nov. 14; $359k Dec. 8; $339k Jan.2; $318k Jan. 21; dabod at $318k Feb. 10; back on market at $328k Apr 14; short sale approved at $335k on Apr 14; sold for $320k.
- 307 1st – listed at $479k in Jan; reduced to $459k June 21; $399k Feb. 6; dabod at $399 Feb. 20; back on market at $405k April 22; sold for $408k.
10 new listings – average list price $438,050.
Two Bedroom Hoboken Condos:
307 total active – $635,339 average asking price. 109 DOM so far.
6 dabo’d. 54 average DOM
- 109 Jackson – listed at $530k in March; reduced to $509k April 3; $504k April 9; $499k April 10.
- 380 Newark – listed at $649k in October; reduced to $629k Nov3; $609k Feb 26; $589k March 24.
5 sold – $467,800 average price. Average 55 DOM.
- 210 Jackson listed at $474.9k in Oct.; reduced to $445k Jan. 7; $429k Feb. 5; sold for $420k.
- 700 1st Street listed at $539k in Nov.; reduced to $524k Dec. 30; $505k Feb. 5; sold for $475k.9
- 904 Jefferson listed at $595k in Jan.; reduced to $575k Jan. 14; $535K Jan. 16; $525k Feb. 11; $510k Feb. 12; sold for $499k.
Three Bedroom and Larger Hoboken Condos:
65 active 3BR condos – $884,125 average asking price. 123 DOM so far.
1 sold. $540,000. 70 DOM.
- 510 Monroe – listed at $579k in Nov.; reduced to $564k Jan. 16; $549k Jan. 22; sold for $540k.
4 new listings average list price $663,234.
Hoboken Condo Open Houses
If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your single best source for locating 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.
Thanks for reading!