To receive this report by email WITH the mls links:
Hoboken Condos Inventory & Sales – Week of August 4th
Before we get to the good stuff: Howie & I own 2 condos that are both available for rent for Sept. 1. There is no fee. Both great places in super convenient locations. Here are the details if you or anyone you know is looking for a nice home with excellent landlords. 531 Bloomfield St. 322 Hudson St.
The inventory number of Hoboken condos for sale continues to drop, which has to be a good thing. There were some interesting new listings and, as always, some lessons to be learned from what sells and what doesn’t. If you’ve seen the new HGTV show “Real Estate Intervention” you’ve seen a glimse of my nightmare of dealing with sellers who refuse to see reality. It’s comforting to know I’m not alone but I just cannot understand what some of these owners are thinking or why any agent would want these listings.
The auction last night went well for 1300 Park. I hear the units there sold.
Here are this week’s numbers:
- 536 active Hoboken condo units today – 545 last week.
- 32 price reductions vs. 32 a week ago
- 10 dabos (under contract) vs. last week
- 19 sold vs. 7 last week.
- 32 new listings vs. 22 last week
- 17 expired listings vs. 9 last week
- none withdrawn vs. none last week
Here is the Weekly Wednesday Wrap Up from July 28th.
Studio & 1 Bedroom Hoboken Condos:
17 new listings. Average list price $449,817. Average $590 per sq. ft. (Several units at Maxwell bumping up the average.) A good deal is to be had at 1026 Clinton – $379k for a true loft with parking. 14 foot ceilings make any unit seem larger than it is even though this one at over 700 sq. ft. is a decent size.
181 total active – $397,965 average asking price. 107 average DOM. Average asking price $564 per sq ft.
2 dabos. 135 average DOM.
- 128 Madison listed at $299k on Feb 27; reduced to $279k on Jun22.
- 81 Grand listed at $385k on Apr 7; reduced to $379k on May 22.
4 sold for an average price of $433,625 or $508 per sq. ft. in 66 days.
- 807 Clinton originally listed at $424.9k on Feb 6; reduced to $399k on Apr 13; sold for $375k
11 price reductions.
Two Bedroom Hoboken Condos:
14 new listings – average list price $684,627. Average $533 per sq. ft. The one at 215 Adams is hardly new – it was first put up for sale in ’07 at $320k and two years later, is still on the market. Similarly, 322 Grand is a 650 sq. ft. unit resale asking $577 a square foot in a building where several still-unsold developer units have been on the market for almost a year. On the other hand, 319 Adams is asking only $419 a square foot, is 1300 sq. ft. and has parking and a terrace.
292 total active – $605,791 average asking price. 109 average DOM so far. Average asking price $506 per sq. ft.
- 198 up to $600,000
- 88 $600,000 and over
5 dabo’d. 154 average DOM
- 213 14th St. listed at $439.9k on Apr 29; reduced to $429.9k on May 4; $399.9k on May 22; $389.9k on May 31.
- 78 Jackson listed at $585k on apr 16; reduced to $499k on May 15; $459k on Jul 29.
- 78 Jackson listed at $630k on Nov 24; reduced to $609k on Jun 3; $580k on Jun 16.
13 sold – $515,211 average sales price or $454 / sq. ft. Average 89 DOM.
- 159 14th St. listed at $399k on Nov 3; reduced to $$384k on Jan 16; $365k on Feb 23; $349.9k on Apr 15; sold for $300k. (25% off the original list!)
- 1302 Park listed at $405k on Jan 28; reduced to $399k on Mar 16; $385k on Apr 28; sold for $381.5k.
- 607 Madison listed for $459k on May 1; reduced to $450k on May 31; sold for $415k.
- 224 Willow listed for $500k on Apr 7; reduced to $475kk on May 8; sold for $445k.
- 1313 Park listed at $569k on May 4; reduced to $549k on May 26; sold for $540k.
- 1500 Hudson listed at $879k on Feb 11 ’08; increased to $899k on Jun 10 ’08; reduced to $889k on Sep 8 ’08; $875k on Oct 14 ’08; $845k on Oct 20 ’08; $819k on Nov 14 ’08; $795k on Dec 1 ’08; $769k on Jan 12; $759k on Apr 15; sold for $715k after 479 days. Can you say “chasing the market”? What were they thinking increasing the price???
20 price reductions.
Three Bedroom and Larger Hoboken Condos:
68 active 3BR condos – $954,567 average asking price. 116 DOM so far. Average asking price $520 per sq ft.
1 new listing. Priced at $1.2m.
3 dabo in 201 DOM.
- 505 Adams listed at $624.9k on May 6; reduced to $595.9k on Jun 3.
- 78 Jackson listed at $864k on Apr 10 ’08; reduced to $835k on Jul 23 ’08; deal fell through; reduced to $799k on Jun 4; $769k on Jun 16.
1 sold for sales price of $820k in 58 days.
- 629 Jefferson originally listed at $865k on Mar 18; reduced to $825k on Apr 30; sold for $820k.
1 price reduction.
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. Like this report, to receive the map with the actual links, you will have to request it.
Thanks for reading and, as always, we welcome your comments!