2009 Sep 9th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of September 8th

Hoboken Condos Inventory & Sales – Week of September 8th

Here are this week’s numbers:

Here is the Weekly Wednesday Wrap Up from: September 1, August 25th, August 18th., August 11th., August 4th.

To get this report with links to the MLS listings please complete the following:

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Studio & 1 Bedroom Hoboken Condos:

13 new listings

170 total active

1 dabo. 37 average DOM.

2 sold

3 price reductions.

Two Bedroom Hoboken Condos:

18 new listings

269 total active

4 dabo’d. 118 average DOM

3 sold

11 price reductions.

Three Bedroom and Larger Hoboken Condos:

63 active

2 new listings

No dabos

2 sold

5 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.

Want to Receive New Listings & Price Reductions Daily?

If you would like to be emailed the new listings and price reductions each weekday in either 1br, 2br or 3br categories just email us at [email protected] letting us know which size(s) you would like and we’ll add you to the daily email list.
You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!
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  1. thoughts

    i’m still seeing high listing and closing prices – good for Hoboken. very impressive.

  2. stan

    It’s all relative Interested.

    Look at 402 9th street, The Columbus. asking 475k for 1300 sf. Parking is included.

    It sold for $607,000 in 2005. When looking at tax records, I am seeing substantial discounts from previous sales.

    Thanks as always Lori

  3. homeboken

    The jump in available inventory is what is surprising to me. If we head into October with 550+ units, it will be a long slog through winter for sellers that don’t price appropriately.

    Lori- any idea how many months of inventory 520 units represents given previous sales volume?

  4. Lori

    Years.

  5. Lori

    That particular unit at 402 9th had a particular layout. The rooms were very long and narrow with windows only at the far end, as you can see from the photos. It had no upgrades. The original kitchens and baths in that building were not what would be considered luxurious. Ordinary cabinets, formica, white appliances. It’s also immediately above the playground – which is an extremely busy playground. Other 2brs in that building are selling for over 600k. That was an exception, not the rule.

  6. stan

    Thanks for clarification Lori.

    Listed in $600’s or selling in $600’s?

    it did sell for 600k+ however three years ago, rising tide as it were.

  7. homeboken

    Lori – One more question. There are 3 new 2BR listings at Hudson Tea, all over $700,000. Of these three listings, there is only 1 photo (out of all 3 listings) that is inside the unit.

    Why would a broker not post a single photo inside the unit? If the idea is to sell the amneities, then OK, I guess it is defensible, but not smart. If the idea is to “hide” something odd about the layout, or outdated. When I see a listing with no interior phots that raises a flag. When I see a listing that posts 7 photos of amneities and not one of the unit, I raise two red flags.

    Is there a method here or an indication of a bad seller agent?

  8. JC

    Further more, historically the Hudson Tea building is famous for not showing interior pics. Maybe its a building thing? Hudson tea building more so than any other building that I recall.

  9. bz

    Some agents tend to rush into a listing. Even without photos, they want to let people know the new property on the market. That’s the not-so-smart side of some listing agents. However, Tea Building is famous of its location, amenities and services. The people and their agents (if they use one) who are in the target buyer group probably know what to expect. Another possibility is that some agents actually use the hide technique to lure more buyers to call them for detailed information. This technique is often used in rental listings. Also, there are plenty of buyers who don’t usually do the research themselves. They leave everything up to the buyer agents. And there’s usually an open house for realtors before the listing. So most interested agents have already seen the place before their clients. Not having the photos on the listing isn’t a big deal in this case.

    I think we, visitors of this blog, are spoiled by Lori because she reveals restricted information to us.

    Thanks Lori for all you did.

  10. Cin

    My husband and I looked @67 Madison at the Sunday open house after the price dropped from 729k to 699k. There were atleast 15 couples looking that day and we called on Wed and it was already out of Attorney review? My realtor told me that the sellers accepted the offer because of the buyers ability to close in 30 days and it appears they closed within 25 days of that open house on Sunday…is this possible? We tried to make an offer much higher than the 695k sell price(I think you said it sold for 665k, my realtor said it was listed at 699k and sold for 695k). We loved this place and feel we should have made an offer right away..I can’t believe it went this quick.

  11. lori

    I don’t really reveal any “restricted” info. But thanks anyway, bz.

    Hudson Tea – there are no pix because these are units being sold on the MLS by Toll Bros. The building still has tenants in it (it was a non-eviction plan when they condo’d it). As they voluntarily vacate, Toll renovates and sells the units. They’re not renovated yet so there’s nothing to photo. If we agents take buyers there they have models to show the buyers.

    67 Madison – sold by the listing agent to her own buyer for $695k.

  12. homeboken

    Thanks Lori, simple answer there.

  13. Eric

    So Cin made an offer higher than the other buyer’s… I wonder if that offer ever actually made it to the sellers, or if the listing agent buried it to keep both ends of the commission. No idea who the listing agent is, so I don’t mean to offend. But as we’ve discussed in a ton of recent posts, not unlikely…

  14. 'boken

    Anyone have an opinion on the port imperial area? Specifically the Grandview and Hudson club buildings? Seems like you can get more space on the water where as a comparable building on the water in Hoboken will go for much higher.
    One move have to move blocks inward to get the same space for the $ in Hoboken.
    Thanks!

  15. JC

    The probelm with Port Imperial is that you have to live in Port Imperial. Isnt that the issue with Real Estate? You can also get more space in Oklahama but you’ll need to live in Oklahoma.

    I dont know much about the area, but if your priority is waterfront living then Port Imperial is a great alternative.

  16. 'boken

    yea….I guess that is what I am wrestling with. Another plus is the newer type of building in Port Imperial that is only found on the uptown west of Hoboken and the waterfront area (Maxwell, etc.). The light rail provides access to Hoboken which is nice. But walking there would be even nicer.

  17. Baguette

    I looked at the Grandview and Hudson Club. Grandview is still pretty expensive. At the Hudson Club, it felt like it was very cheaply made… there were water stains on the hallway ceilings, you could hear the people walking above and you could feel people walking towards you on the same floor. It was significantly cheaper than Hoboken though and did come with a lot of amenities. I’m just not really into that atmosphere… I would feel like I was living in a hotel all the time.

  18. Cheryl

    What do you think of the resale value for a condo on 1st in between River and Hudson?

  19. thoughts

    if it’s a nice place, you should have no problem – that’s the key, as it is not a bad location

  20. Mike

    How about 110 willow? It just lower price. 3 bedroom, 1400sqf for 660k. looks like a great price.

  21. Cheryl

    It’s next to the dubliner…..

  22. Mike

    Cheryl, what do you mean?

  23. thoughts

    Mike –

    It’s a walk up with no parking – all else looks nice and a great location.

    I think that the price is still a little too high.

    Cheryl –

    Being next to a bar is tough….

    Thoughts

  24. Mike

    Cheryl-
    I went to there, and I did not see a bar on willow st between 1st and second st. What would be a good price range,for it in your opinion? It is $470/sqf right now. Thanks

    Mike-

  25. Cheryl

    I’m sorry Mike. I was referring to the property I looked at next to the Dubliner. It’s on 1st st. It’s a beautiful duplex but shares wall with this bar. Just wanted to know peoples opinion of resale value in the future. Will I have a hard time selling?

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