2010 Jul 7th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of July 6th

Hoboken Condos Sales & Activity – Week of July 6th

The dog days of summer are certainly here! SempaiThis week is a good one to stay inside in the AC and look at some market stats. One thing you’ll notice below is something new in the “units sold” category below. I have posted “16 sold” and “42 reported“. That is due to the common occurrence of late reporting. What happens is a deal closes but the agent never bothers to change the status in the MLS to sold. When they finally do get around to it, a few weeks have passed since the actual closing took place. Some agents are notoriously bad about this. There are MLS rules about timely reporting of transactions but they seem not to be enforced. As a result, you get less than accurate information about the market.

To help provide a better picture, I’ll list the units that actually close this past week and break out the price history by bedroom size (that’s the 16 sold figure). I’ll also give you the link to all properties “reported” as sold this week even if they closed more than a week ago (that’s the 42 reported). Hopefully this will give you a better understanding of what’s really going on in the Hoboken condo market.

Coming Attractions: The June Sales Results & the 2nd Quarter Results!

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The data relating to real estate transactions on this web site comes in part from the Hudson County MLS.  While some of these listings are, in fact, our listings they are not ALL our listings nor do we hold them out as such.   Century 21 Listings are identified with “C21″ after the address.  All other listings are from the MLS and are identified with “MLS” after the address.  Information is deemed reliable but not guaranteed.

Studio & 1 Bedroom Hoboken Condos:

17 new listings

203 total active

2 Dabos

4 Sold

14 price reductions

Two Bedroom Hoboken Condos:

14 new listings

265 total listings.

6 Dabos

10 sold

24 price reductions

Three Bedroom and Larger Hoboken Condos:

3 new listings

59 active listings.

1 dabo

2 sold

3 price reductions

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your best source for locating every open house in Hoboken. It is the single, most complete listing available and we were the first ones to do it. We compile the information by hand from all possible sources to provide you with all the information you need in one spot. It’s posted on Friday every week.

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!

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  1. hobokenlifer

    hi Lori….for some reason i do not see the links to the units sold.

    Any idea.

    thanks for everything.

  2. Lori Turoff

    Just fill out the little form to ‘request’ the links, click OK to refresh the page, and you’ll see all the links.

  3. carl

    looks like from sales numbers($/sqft) that hoboken is taking another leg down. Maybe some of those overpriced Maxwell units will sell to bring the average up for the month

  4. Craig

    The real estate industry’s definition of a new listing varies significantly from my own. 812 Grand St. Unit 310 (The Huntington) is on MLS as a new listing with just a few DOM, meanwhile I viewed this unit months ago. Just because a unit is re-listed after briefly being taken off the market or the prior listing expires, doesn’t make it a new listing in my opinion.

    Actual DOM is important info for a seller to have in negotiations. If buyers knew how long the sellers were really trying to sell this place, it works in the buyer’s favor. Because if a property sits for months, the market has spoken about the price. I don’t like how sellers can get around it by re-listing with the DOM reset. Any prior DOM should be included in the total.

    812 Grand’s new price of $729k is coming closer to reality, but the sellers still have a ways to go before they have any hope of selling that unit. It’s a great place, but in an unfortunate location for the money they want. A successful sale will require an asking price that has a number begining with a 6 when you compare a recent sale comp at 101 Park and the asking for currently listed 99 Park.

  5. bill

    Craig – that info (relistings) is easily obtained by your realtor….as Lori has pointed out.

  6. Lonnie

    BTW,
    I would never consider using a Realtor who has had a listing expire, especially for more than 90 days…
    Want a few reasons ?

  7. Bill

    Lonnie, do tell…

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