2009 Sep 8th

The August Numbers – Thanksgiving in September?

Hoboken Condo Sales

Here is a chart showing condo sales data for the year to date:

A few things strike me.  Inventory is down.  Sales activity is up.  Price per square foot is up.  In my opinion, this is all good news.  It’s not a 100% certain but it is starting to look to me like the market is improving.  Could I be wrong?  Sure – this is not the bible blog.  I don’t have special powers or wisdom.  But I’m certainly thankful that we’re moving in the right direction. Let’s take a look at recent performance another way.

Year-to-Year Comparisons for Hoboken Condo Sales

Here, too, I see what looks like it might have been a low point in April.  Of course, it’s going to take much more time to completely recover or even to be sure that we are on the road to recovery.  Nonetheless, it’s fun to look at the numbers.  What do you see?

  1. Hmmm

    That DOM of 126 in August almost looks like a error. Is that for the properties that were sold or overall inventory? Other than that, not as bad as many would think but it’s still pretty bad year to year as it was bad last year and we haven’t had a single month in which we beat in sales. Hopefully Sept could be the first in which we beat year to year since last Oct.

  2. Lori

    The DOM of 126 is not an error. I thought it looked odd, too, so I checked the actual listings. They included a bunch of new construction units that were listed before they were completed and therefore bumped up the average.

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