Categories: Weekly Wednesday Wrap Up
Time to take advantage of the First Time Home Buyer’s Tax Credit has just about run out. You would have to be in attorney review today to get out by Friday. You need a binding contract by April 30th. I have to say, though, that there has not been any significant activity surge evidenced by this week’s numbers to indicate that it mattered much to Hoboken condo buyers. Maybe next week will tell a different story. We shall see.
Speaking of next week – I’m going on vacation. Howie will be running the show in Hoboken while I sip espresso in Florence. Getting onto the MLS from abroad is not easy. Howie will be running the show until he joins me in Italy for a 130km bike race with 1871 meters of climing. For those of you not familiar, that’s a lot of hills! We will therefore post an abbreviated version of the WWWU for the next 2 weeks. Thanks in advance for your indulgence. Even we need some down time every now and then. Maybe I’ll write about the European real estate market for a change of perspective.
Hoboken Condos Sales & Activity – Week of April 28th
Here are this weeks numbers vs. a week’s ago numbers:
- 556 active Hoboken condo units today – vs. 556 last week.
- 51 price reductions, vs. 58
- 21 dabo (under contract) (1 short sale) vs. 25
- 23 sold (0 short sale) vs. 23
- 47 new listings (2 short sales) vs. 61
- 4 expired listing vs. 8
Studio & 1 Bedroom Hoboken Condos:
23 new listings.
224 total active – $382,080 average asking price. Average 83 DOM.
9 dabo. Average 61 DOM
- 1125 Maxwell listed at $538k on Feb 2; reduced to $525k.
- 1201 Adams listed at $428k on Feb 18; reduced to $415k on Apr 5.
- 707 Bloom listed at $449k on Oct 2; reduced to $429k.
7 sold. Average price $397,785. DOM 28.
- no price reductions needed!
23 price reductions.
Two Bedroom Hoboken Condos:
37 new listings
274 total listings. Average list price $566,919. Average 75 DOM.
- 204 up to $600,000
- 70 $600,000 and over
9 dabo’d. Average 34 DOM.
- 109 Harrison listed at $676k on Mar 4; reduced to $639k on Apr 23.
- 904 Jeff listed at $515k on Mar 8; reduced to 505k on Mar 26; $499k on Apr 5.
- 109 Harrison listed at $749k on Mar 4; reduced to $699k on Apr 7.
14 sold. Average price $575,107. Average DOM 152.
- 312 Madison listed at $425k on Jan 4; reduced to $399k on Feb 19; sold for $377.5k.
- 420Jeff listed at $449k on Oct 22; reduced to $449.5k on Oct 26; $439k on Jan 2; sold for $415k
- 1120 Clinton listed at $529k on Sep 1; reduced to $499k on Oct 12; $489k on Feb 20; sold for $480k.
- 1425 Garden listed for 1.25mil on Jan 6; reduced to 1.125mil on Apr 24; 1.025mil on Jun5; $999k on Jun 24; sold for $950k.
- 1425 Garden listed for 1.45mil on Mar 12; reduced to 1.295mil on Jan 6; 1.167mil on Apr 24; 1.05mil on Jun 5; sold for$975k. Same buyer bought both units and will likely combine them with a staircase. Maybe they could have done a “buy one get a second at half price” promotion and sold them faster?
20 price reductions.
Three Bedroom and Larger Hoboken Condos:
6 new listings
64 active listings. Average price $807,949. Average 84 DOM.
3 dabo’d. Average 47 DOM
- no price reductions
2 sold Average price $582,500. Average DOM 106.
- no price reductions
5 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.
For more information you can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!