Categories: Weekly Wednesday Wrap Up
Inventory is shrinking! Another week of fewer homes for sale. The other thing that jumps out at me is that the listed units and new listings are still at a price per square foot significantly higher than that of the sold units. To see the report with links to the listings, please complete this:
Here are this week’s numbers:
- 524 active Hoboken condo units today – 536 last week.
- 28 price reductions vs. 32 a week ago
- 11 dabos (under contract) vs. 10 last week
- 9 sold vs. 19 last week.
- 28 new listings vs. 32 last week
- 12 expired listings vs. 17 last week
- none withdrawn vs. none last week
Here is the Weekly Wednesday Wrap Up from Aug. 4th.
Here is the Weekly Wednesday Wrap Up from July 28th.
Studio & 1 Bedroom Hoboken Condos:
12 new listings. Average list price $393,490. Average $590 per sq. ft.
178 total active – $397,780 average asking price. 106 average DOM. Average asking price $553 per sq ft.
7 dabos. 75 average DOM.
- 1500 Hudson first listed at $534.9k on Feb 20; reduced to $529k on Apr 6; $$469k on Jul 15.
- 924 Jeff first listed at $399.9k on Jun 23; reduced to $379.9k on Jul 21.
3 sold for an average price of $396,666 or $490 per sq. ft. in 101 days.
- 409 4th Street first listed for $459k on Nov 5; reduced to $449k on Jan 29; $439k on Mar 13; sold for $415k.
9 price reductions.
Two Bedroom Hoboken Condos:
12 new listings – average list price $548,483. Average $533 per sq. ft.
277 total active – $609,668 average asking price. 111 average DOM so far. Average asking price $521 per sq. ft.
- 189 up to $600,000
- 88 $600,000 and over
4 dabo’d. 142 average DOM
- 830 Monroe first listed at $645k on Jan 15; reduced to $629k on Mar 7; $619k on Apr 27; $599k on Jul 13.
- 78 Jackson first listed at $585k on Apr 16; reduced to $499k on May 15; $459k on Jul 29.
- 401 Monroe first listed at $315k on Mar 16; reduced to $289.5k on Jul 15.
5 sold – $588,600 average sales price or $496 / sq. ft. Average 193 DOM.
- 1500 Washington first listed at $879k on Feb 11 ’08; INCREASED to $899k on Jun 10; reduced to $889k on Sep 8; $875k on Oct 14; $845k on Oct 20; $819k on Nov 14; $795k on Dec 1; $769k on Jan 12; $729k on Apr 15; sold for $715k.
- 830 Monroe first listed at $669k on Sep 16; reduced to $649k on Nov 8; $625k on Apr 13; $589k on May 4; $569k on May 8; $543k on May 30; INCREASED to $569k on Jun 2; sold for $543k.
As a listing agent, these are the kind of listings I would dread. Sure they sell eventually but after a long tortuous dealing with the seller and a ton of work. Not an efficient use of my or any other agent’s time. An almost 20% price reduction over dragged out over the course of more than a year! What’s with increasing the price?
- 610 Newark first listed at $485k on Feb 2; reduced to $469k on Mar 30; $449k on May 1; sold for $425k
16 price reductions.
Three Bedroom and Larger Hoboken Condos:
69 active 3BR condos – $950,608 average asking price. 113 DOM so far. Average asking price $519 per sq ft.
5 new listings. Average price $917,780. Average price $496 per sq. ft.
1 sold for sales price of $459,900 in 115 days for $369 per sq. ft.
- 211 Adams originally listed at $492.5k on Feb 1; reduced to $489.9k on Feb 23; $487.4k on Mar 2; $484.9k on Mar 9; $483.4k on Mar 16; $479.9k on Mar 23; $477.4k on Mar 30; $474.9k on Apr 7; $472.9k on Apr 14; $469.9k on Apr 20; $467.4k on Apr 27; $464.9k on May 5; $462.4k on May 11; $459.9k on May 26; sold for $465k. This was the “Dutch Auction” sale where the price was reduced $2,500 every Monday. I don’t know that this really accomplished anything – might have been better to just price it right to begin with.
3 price reductions.
Hoboken Condo Open Houses
Want to Receive New Listings & Price Reductions Daily?