2009 Dec 16th
The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of December 15th
Categories: Weekly Wednesday Wrap Up
Hoboken Condos Inventory & Sales – Week of December 15th.
To get this report with the MLS links just fill out this tiny, little form please:
Here are this week and last week’s numbers:
- 461 active Hoboken condo units today – 470 last week.
- 15 price reductions, vs. 26 last week
- 10 dabo (under contract) vs. 12 last week
- 15 sold vs. 20 last week
- 12 new listings vs. 24 last week
- 8 expired listings vs. 11 last week
Studio & 1 Bedroom Hoboken Condos:
8 new listings.
162 total active – $372,909 average asking price. Average 91 DOM.
1 dabo. 44 DOM.
7 sold for an average price of $395,214 Average 126 DOM .
- 422 Bloom listed for $350k on Aug 12; reduced to $340K on Sep 10; $325k on Sep 24; sold for $300k.
- 422 Bloom listed for $360k on Aug 12; reduced to $350k on Sep 10; $340k on Sep 24; sold for $325k.
- 1425 Garden listed at $729k on Mar 12; reduced to $695k on Jul 2; sold for $575k.
- 122 Madison listed for $545k on Jul 30; reduced to $525k on Sep 9; sold for $495k.
11 price reductions.
Two Bedroom Hoboken Condos:
6 new listings
224 total listings. Average list price $581,945. Average 106 DOM.
- 176 up to $600,000
- 68 $600,000 and over
7 dabo’d. Average 105 DOM.
- 109 Harrison listed at $475k on Oct 30; reduced to 456k on Nov 11.
- 501 Adams listed at $460k on Oct 30; reduced to 430k on Dec 4.
- 1500 Garden listed at $999.9k on Jul 15; reduced to 949.9k on Nov 18.
- 325 Adams listed for $570k on Jun 23; reduced to 549k on Jul 29; 525k on Sep 17; 519k on Oct 28.
- 1331 Grand listed for $589k on Aug 14; reduced to 579k on Oct 29.
6 sold – $542,433 average sales price. Average 58 DOM.
- 405 Bloom listed for $569k on Jul 31; reduced to $549k on Sep 9; $529k on Oct 7; sold for $499k.
11 price reductions.
Three Bedroom and Larger Hoboken Condos:
2 new listings
54 active listing. Average price $954,742. Average 136 DOM.
2 dabod. Average 83 DOM.
1 sold. Price $890, 000. DOM 30.
4 price reductions.
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 info@hobokensbest.com letting us know which size(s) you would like and we’ll add you to the daily email list. A word about that – if you have an ongoing relationship with another agent we are not going to email you. That means someone you’ve been working with on a regular basis and whose services you are happy with and to whom you feel loyalty. We respect that relationship. If that is the case, ask your own agent for listings. If, however, you’ve gone to an open house or you’ve seen several properties with several different agents, that’s not an ongoing relationship. Showing someone a single property, or even a few, does not necessarily a relationship make. You are the consumer – you get to decide with whom you wish to work. So we will ask you before we email you.
You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!
I don’t see the Dec 15th listings. I see only Dec 8th. Could you please fix this?
Has anybody seen 122 Madison #1 (sold 1 BR) Looks pretty unique from the pics, 2 bathrooms, and has a private yard. Maybe the layout is awkward?
JUST WANTED TO SHARE THIS HOT OFF MY INBOX. I HAVE NOT EDITED THE CONTENT IN ANY WAY. IF I DID THE MATH RIGHT, THAT’S A 39% DROP AND STILL NO SALE AT 999,999.
[Hoboken RE.ality - Real Estate Transparency] New comment on A Subscriber Notes – What’s Up At 109 Grand?.
Friday, December 18, 2009 7:30 PM
From: “Moderator”
This subscriber’s posting from February 2009 had some meat on it after all. The property was last seen fishing for short sale opportunists at $999,999. However, it is believed to be only buying time before foreclosure.
So let’s summarize the “asking” price history:
June 2008 = $1,629,000
-54000
-25000
-51000
-100000
-100000
-49000
-51000
-199001 = $999,999, October 2009
When do you think the seller realized that they were not going to get their money back? This is the common problem with virtually all the properties bought over the past few years that are trying to sell.
Until that RE.ality hits home (no pun intended), they are doomed!
Posted by Moderator to Hoboken RE.ality – Real Estate Transparency at December 18, 2009 7:30 PM
i thought 109 Grand was one of the nice buildings in town. i saw an open house there awhile back. is this unit still for sale? i can’t find it on the MLS postings?
That unit at 109 Grand is currently under contract. That’s some effort at transparency on that blog – it’s entirely anonomous! In my opinion that is B.S. Have the guts to put your name on it or go away.
122 Madison was sold by “Vandermark” – as in Minervini Vandermark the local architects. So I imagine it was his place. Though it is listed as a 2 br, one has to walk through the second “bedroom” which is just an open space off the living room to access the backyard. The design esthetic is also ultra modern – not to everyone’s taste.
Lori: Not sure I understand your comment on the source of the the 109 Grand posting. Are you disputing the numbers? “Under contract” could apply to a foreclosure couldn’t it? I could give a rat’s @$$ if its anonymous or not but for its accuracy. I hear all you brokers denouncing the blog yet nobody disputes the information.
My comment says nothing about the sales history of 109 Grand. My point is that anyone who writes a blog and won’t put their name on it is a coward and loses all credibility in my eyes. How do you know what “all you brokers” are saying? By the way, I’m not a broker, I’m an agent – there is a difference. Could the author be YOU???? Makes me wonder.
what are you people talking about????
anyway, does anybody have any suggestions for a (i) 2 bedroom (ii) midtown location (iii) parlor level and below and (iv) deeded back yard? i’v looked through the listings and don’t see much. i think the large majority of units for sale are in the outskirts of hoboken – that stinks…..
ohhh – i mean “that stinks” for my friend that’s coming to town to look – some people love the outskirts b/c of price etc. – please do not attack!
thoughts….I just passed something today. 508 garden #1. I dont know anything about it.
508 Garden is currently under contract – to my buyer. Sorry, it went quickly.
congrats, but I thought that was on the market for over a year? no?
it doesnt matter….they probably just relist over and over.
As is common with short sales, there were several prior contracts that fell through for various reasons.
i’m totally lost – was this a short sale? it was on the market for over a year with several price reductions?
Lori – can you explain “it went quickly” – we’re talking about apt 1 – is that correct?
except for being half underground and not seeing the bedroom/bathrooms, it looks nice and at a nice price….
It was a short sale. It was under contract several times. The deals fell through. It was relisted at active and is currently under contract again. What don’t you understand?
sorry – i didn’t understand that we were talking about the same place when you said “it went quickly” – i thought you meant that you got it when it first listed….
anyway, how were the bed/bathrooms? updated, etc. can’t see from the pics…..
seems like a good price if the bathrooms are updated?