Categories: Weekly Wednesday Wrap Up
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:
- 538 active Hoboken condo units today – vs. 532 last week.
- 40 price reductions, vs. 36
- 20 dabo (under contract) (no short sales) vs. 20
- 12 sold (no short sales) vs. 13
- 55 new listings (no short sales) vs. 50
- 6 expired listing vs. 4
Studio & 1 Bedroom Hoboken Condos:
15 new listings.
217 total active – $379,184 average asking price. Average 76 DOM.
2 dabo. Average 97 DOM
- 60 Madison listed at $310k on Sep 16; reduced to $300k on Dec 4.
1 sold. Average price $375,000. DOM 98.
- 1500 Hudson listed at $394k on Sep 17; reduced to $389k on Nov 2; sold for $375k.
23 price reductions.
Two Bedroom Hoboken Condos:
33 new listings
- 326 Madison listed at $289k on Sep 22; reduced to $259k on Oct 28; sold for $245k.
271 total listings. Average list price $571,483. Average 90 DOM.
- 192 up to $600,000
- 79 $600,000 and over
13 dabo’d. Average 154 DOM.
- 700 1st St. listed $500k on Jan 26; reduced to $475k.
- 1330 Clinton listed at $500k on Nov 18; reduced to $479k on Jan 4; $465k on Feb 17.
- 423 Jeff listed at $369k on Jan 12; reduced to $360k on Feb 17.
- 1425 Garden listed at 1,450mil; reduced on Jan 6 to to 1,295mil; Apr 24 to 1,166mil; Jun 5 to 1,050mil.
- 1425 Garden listed at 1,230mil on Mar 12; reduced to 1,125mil on Apr 24; 1,025mil on Jun 5; 990k on Jun 24.
- 312 Madison listed at $425k on Jan 4; reduced to $399k on Feb 19.
9 sold. Average price $467,611. Average DOM 44.
- 930 Park listed at $489k on Jul 24; reduced to $475k on Nov 4; sold for $445k.
- 612 Adams listed at $455k on Nov 3; reduced to $439k on Dec 11; sold for $400k. (I love this description. How exactly is 612 Adams 2 blocks from the Lite Rail? Is there a stop we don’t know about in midtown?)
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.
- 1300 Park listed at $469k on Oct 26; reduced to $409k on Jan 11; sold for $392k.
- 206 Newark listed at 1,675mil on Oct 2; reduced to 1,599mil on Oct 26; sold for 1,355mil.
No price reductions.
Hoboken Condo Open Houses
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.
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!