2010 Mar 17th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales and Activity for the Week of March 16th

Hoboken Condos Sales & Activity – Week of March 16th.

Lots of new listings this week and more to come now that Spring has sprung. Then there is the property tax question. The promised 25% reduction is not looking promising and Christie’s budget proposal may not help either. The Fed plans to stop buying mortgage backed securities shortly. None of this is likely to be good for the Hoboken market. At least the weather is nice.

Here are this weeks numbers vs. a week’s ago numbers:

Studio & 1 Bedroom Hoboken Condos:

15 new listings.

217 total active – $379,184 average asking price. Average 76 DOM.

2 dabo. Average 97 DOM

1 sold. Average price $375,000. DOM 98.

23 price reductions.

Two Bedroom Hoboken Condos:

33 new listings

271 total listings. Average list price $571,483. Average 90 DOM.

13 dabo’d. Average 154 DOM.

9 sold. Average price $467,611. Average DOM 44.

17 price reductions.

Three Bedroom and Larger Hoboken Condos:

6 new listings

50 active listings. Average price $965,109. Average 113 DOM.

1 dabo’d. Average 51 DOM.

2 sold. Average price $873,50 . Average DOM 70.

No 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, due to MLS regulations, to receive the map with the actual links, you will have to request it using the request form on the post. It only takes a second.

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.

A word about that – if you have an ongoing relationship with another agent we are not going to email you listings. You can ask your own agent to do that. So what is an ongoing relationship? Is that not up to you? Have you been working with another agent on a regular basis? More importantly, are you happy with that agent’s service? If so,we respect that relationship. If not, find an agent you like!

If you attend an open house or see several properties with several different agents, that’s not an ongoing relationship. That’s the nature of our job. Despite what some agents in town would like to have you believe, simply showing a buyer a single property, or even a few, does not a relationship make. You are the consumer – you get to decide with whom you wish to work. Unless you’ve signed a “buyers agency agreement”, which is highly unusual in Hoboken, an agent doesn’t have any “hold” over you. So find an agent you like, trust and whose advice you respect. It’s your money, no?

For more information you can always contact us at 201 993 9500.

Thanks for reading and, as always, we welcome your comments!

  1. whynot

    Is 101 Park apt 3e joking by asking for 730,000? The condo is large, has a good location and has parking, but it has a dated kitchen and likely similar bathrooms. If it was updated, I beleive that it would be worth around 730K. Right now, I would guess around 665,000.

  2. Tiger

    I don’t think we will ever see tax cuts in Hoboken. I will be grateful if it doesn’t continue to increase. Mayor Zimmer is clueless IMHO, I supported her, and I think she has the best intentions, but I just don’t think she’s fit for the job. That said, she was the best option available, it was either that or downright corrupt politicians.

    Hoboken has a lot of great features, politics is not one of them.

  3. The Weekly Wednesday Wrap Up – Hoboken Condo Sales and Activity … | Quick Hot News

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  4. shortsequalmarket

    Is it possible to tell how many of the listings are just re-listings. So many new listings but not too much of an increase inventory

    Even a completely competent and honest mayor will have difficulties reducing taxes based on the system in place. If all the policy have to do is threaten arbitration or strike to continue to retire at 55 after working 30 hours per week higher taxes are a guarantee. Hopefully Christie will fix this.

  5. vreporter

    3BR sale was 208 Newark not 206.
    There were other soft concessions beyond the asking price cut but the new owners will still lose on this one despite those relative reductions. Ironically, proximity to PATH was not a buyer priority. All this information is third-hand so don’t shoot the messenger. Seller was a realtor.

  6. Craig

    Don’t wait for the government to lower your property taxes (I don’t think I’ve ever seen that happen in my lifetime). Take matters into your own hands and lower them yourselves by appealing them. Aside from new construction, most of the city’s tax appraisals are far out of line with the reality of current market value. Compare the taxes on new construction with comprable resale properties. The new construction is usually cheaper than resales because its got a current appraisal. That’s how I knew something was wrong. I’ve appealed mine and I’m expecting a $2200 reduction annually. That’s not chump change. Current appraisals are off by a lot.

    Lastly, with the Feds ceasing to buy mortgage backed securities, you can expect interest rates to go up. So I’d get in the market now. Might prices still go down another 5% this year? Sure. But it’s not worth waiting for a small price reduction if it means paying a point or more in interest. Rates are at about 5.25% right now and will be at 6% by year’s end. If you plan to stay awhile, you lose out much more by paying that extra .75% annually over 15-30 years.

  7. JC

    case shiller as it relates to NYC:


  8. DRZ

    Question for all the folks.

    What is valued higher in Hoboken: View/Sun-Light or Location.

    For example, a Sunny unit in the Upper Grand or a norht facing unit in Maxwell Place (north face units face the Shipyard and dont get much direct sunlight or a courtyard view Hudson Tea unit).

    Looking for some opinions.


  9. Lori

    No contest – location.

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