2009 May 20th

The Weekly Wednesday Wrap Up: Hoboken Condo Sales & Activity for the Week Ending May 19th

Lori’s Eating Tapas and Taking Siestas

Hi everyone, Howie here covering for my lovely wife Lori while she vacations on the Camino de Santiago in Northern Spain.  Here are the R/E stats for this past week.  I hope I don’t screw it up too badly ;-). 

 

Studio & 1 Bedroom Hoboken Condos:

197 total active – $415,385 average asking price. 92 average DOM.  Average price per square foot = $595

4 dabos after 115 DOM.

1  sold  Sold for $360k in 18 Days.

8 new listings – average list price $415,975.   The lowest priced unit on a per square foot basis is 258 9th St. at $492/sq. ft. and the highest is 1125 Maxwell Lane at $721/sq. ft.

17 price reductions.

Two Bedroom Hoboken Condos:

308 total active – $619,426 average asking price. 106 DOM so far.  Average price per square foot = $536.

11 dabo’d.   164 average DOM

7  sold – $592,500 average price.   Average 94 DOM.

17 new listings – average list price $571,784.    400 9th St. is the low per sq. ft. at $425/sq. ft. and 1025 Maxwell Lane the high at $625.

24 price reductions.

Three Bedroom and Larger Hoboken Condos:

60 active 3BR condos – $877,035 average asking price.  115 DOM so far.  Average price per square foot = $528.

None dabo’d

None sold

1 new listings – list price $520k;  $400 per sq. ft.

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!

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  1. bettyboop

    Urgh, even if i had $4 mill, I wouldn’t pay a dime for that gaudy 2 Constitution Court listing. Yikes. That’s just about the most ostentatious mess I’ve ever seen.

  2. stan

    thanks as always.

    looks like activity picked up a bit last week. Lower prices are obviously working.

  3. patk14

    We need to factor in the seasonality of the sales figures (particularly when comparing quarter to quarter). Sales always spike during the spring/early summer as people look to be settled in their new place prior to the new school year. In an average year, sales during 2Q are higher than 1Q. So, you need to look back to 2Q08 to make a fair comparison on how weak things actually are. If it turns out that 2Q09 sales are lower than 1Q09, this decline is much worse than even the most pessimistic thought. Don’t think that will be the case however.

  4. Tiger

    Thanks Howard for putting the weekly numbers, much appreciated!

    The numbers don’t look bad at all! But that’s just me

  5. potential_buyer

    Thanks Howard, much appreciated in Lori’s absence.

    Agree with previous comments, seems like it has picked up just a bit, but taken into historical context, could actually be an omen of bad things. I guess we will just have to hold tight for May’s final numbers before making any strong conclusions from one week of data…

    Happy 3-day everyone!

  6. nag

    I love the weekly wednesday round-up. Are we getting one today?

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