Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of September 22nd
When new listings hit the market the listing agent typically hosts a “broker’s open house” during the day just for other agents. In addition to a free lunch, it gives us a chance to see the new inventory. I always find it interesting to attend these (though not often for the lunch choices) to see how other agents approach pricing, staging and marketing their listings. I went to three today, all nice units in good, east-side, uptown locations. Two were owner occupied, one staged. All three had lovely furniture and showed well. What really shocked me, however, were the asking prices. One was in a building where I sold the unit above it at the height of the market before the crash. Granted, the current listing is one flight lower with a slightly better layout (although it has the same footprint). They are asking almost as much as my seller received in 2008. I thought the other two were also a bit on the high side.
I understand that often the agent offers pricing recommendations and the seller does not agree. I’ve had that happen many times and then, as the listing agent, I have to decide if I want to take the listing. But when a property hits the market in today’s economic climate, and it jumps out at me that it’s overpriced, it makes me wonder what some of these sellers are thinking and whether they have spent any time in the market actually looking at other active listings. My recent experience with buyers has been that they are extremely price sensitive, want to feel like they are getting if not a bargain, at least good value, and won’t even look at properties in price points that they feel are above their desired range. I don’t foresee that attitude changing any time soon.
Disclaimer: 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. Other listings are from the MLS and are identified with “MLS” after the address. Information is deemed reliable but not guaranteed.
- 500 active Hoboken condo units – vs. 487 last week
- 5 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 8 dabos last week
- 19 sold (1 short sales) vs. 26 sold (0 short sales)
- 31 new listings vs. 34
- 40 price reductions vs 36
- 9 expired listing vs. 8
Studio & 1 Bedroom Hoboken Condos:
13 new listings
- 1025 Maxwell (mls) listed at $499k on Jul 16; reduced to $475k on Aug 27.
- 1011 Park (mls) listed at $325k on May 22; reduced to $318k on Aug 11.
- 80 Park (mls) listed at $294k on Jun 20; sold for $260k.
- 75 Garden (mls) listed at $390k on May 16; sold for $380k.
- 1500 Wash (mls) listed at $475k on Jun 22; sold for $455k.
- 625 Willow (mls) listed at $319k on May 4; reduced to $310k on May 26; $299k on Jun 10; sold for $295k.
- 917 Willow (mls) listed at $335k on Jul 21; sold for $322.5k.
- 125 Willow (mls) listed at $355k on May 10; sold for $340k.
17 price reductions
Two Bedroom Hoboken Condos:
16 new listings
261 active listings.
191 under $600k
- 108 14th (mls) listed at $349k on Jun 22; reduced to $329k on Jun 19; $315k on Aug 16; $299k on Sep 3.
- 309 Monroe (mls) listed at $379k on May 11.
- 613 Mad (mls) listed at $475k on Apr 12; reduced to $459k on May 25; sold for $435k.
- 82 Bloom (mls) listed at $429k on Jul 2; sold for $409k.
- 360 1st St (mls) listed at $429k on Jul 15; sold for $411k.
- 830 Monroe (mls) listed at $589k on Jan 27; reduced for $575k on Mar 18; $565k on Apr 29; $555k on Jun 10; $550k on Jul 30; sold for $530k.
- 214 Park (mls) listed at $449k on Aug 2; sold for $441k.
- 1025 Maxwell (mls) listed at $809k on Feb 10; reduced to $800k on May 12; sold for $790k.
- 413 Mad (C21) listed at $550k on Jan 4; reduced to $530k on Jan 26; $514k on May 18; sold for $480k.
- 261 2nd (C21) listed at $639k on Apr 14; reduced to $599k on Jun 25; sold for $545k.
- 800 Jackson (mls) listed at $612k on Apr 19; sold for $630k.
21 price reductions
Three Bedroom and Larger Hoboken Condos:
4 new listing
53 active listings.
- 84 Jeff (mls) listed at $769k on Sep 10.
- 501 9th (mls) listed at $635k on May 5; reduced to $619k on May 20; sold for $592k.
2 price reductions
Hoboken Condo Open Houses
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