Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of February 16th, 2011
Two Fun Hoboken Events
The Theater Company, a local non-profit theater group is performing the Rocky Horror Show at the Monroe Center this weekend and next. We went to see it last weekend and it was great.
Help the Puppies (and Kittens)
Liberty Humane hosted a great night of wine & chocolate tasting at Madame Claude’s in Jersey City. It was extremely well attended. On March 27th they are hosting a fundraising brunch at City Bistro.
I’m still happy to send you comps if you are appealing your own taxes. Keep in mind that the City has a 15% margin of error. If your assessment does not multiply out to at least 15% over the current market value of your property, you are not likely to be successful in an appeal. The “upper limit” multiplier for Hoboken is .3407. To see where you are at, take your assessed value and divide by .3407. For example, if your assessed value is $175,000, the result would be $513,648. Your property value must be less than $513k to win an appeal. You can get more details on tax appeals and forms at the Hudson County Tax Board website.
Is Hoboken Condo Inventory Creeping Up?
There are certainly more new listings than in past weeks but we are still well under 400 condos for sale. Sales and dabos have been steady and more buyers may be willing to come out when the snow melts. I certainly have seen buyers out there who are serious and well-qualified. Many of them are still hoping to get a “deal”. Sometimes a condo unit does come on the market with all the bells and whistles (parking, outdoor space, elevator, w/d, cac) priced at what I would consider a “value” price. Look at 1200 Grand below – it ended up with multiple offers and sold for 10% over asking. The deal ended up being what I would have considered to be the market value in the first place.
Here is this week’s condo sales report:
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.
- 369 active Hoboken condo units – vs. 350 last week
- 8 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 10 dabos last week
- 14 sold vs. 18sold
- 43 new listings vs. 30
- 15 price reductions vs 12
- 3 expired listing vs. 7
Studio & 1 Bedroom Hoboken Condos:
15 new listing
- 300 Newark (mls) listed on Oct 13 for $399k; reduced Nov 8 to $389k.
- 205 Park (mls) listed on Oct 9 for $350k; sold for $329k.
- 740 Washington (mls) listed on Sep 27 for $309k reduced on Oct 7 to $299k; Oct 29 to $284k; sold for $270k.
- 941 Garden (mls) listed on Oct 10 for $425k; reduced on Nov 4 to $400k; sold for $387.5k.
- 712 Willow (mls) listed on June 14 for $349k; reduced on Aug 2 to $319k; Oct 6 to $299k; sold for $287k.
- 419 Adams (mls) listed on Jan 26 2010 for $419k; reduced on Mar 27 to $399k; sold for $399k.
2 price reductions
140 Total Active 1BRs
Two Bedroom Hoboken Condos:
23 new listings
- 1320 Bloomfield (mls) listed on Sep 22 for $465k; Reduced on Oct 19 to $430k.
- 407 Adams (mls) listed on Jan 21 for $575k.
- 1200 Grand (mls) listed on Feb 8 for $489k.
- 1500 Garden (mls) listed on Jan 23 for $849k.
- 407 Monroe (mls) listed on Oct 5 for $559k; reduced on oct 19 to $549k; Nov 4 to $529k; Jan 21 to $519k.
- 113 Madison (mls) listed on Sep 1 for $499k; reduced on Sep 22 to $489k; Jan 28 to $449k.
- 617 Madison (mls) listed on Oct 24 for $424k; reduced on Nov 8 to $414k; sold for $405k.
- 129 Harrison (mls) listed on July 21 for $499k; sold for $497.5k.
- 123 Jackson (mls) listed on April 27 for $555k; reduced on Sep 16 to $525k; sold for $515k.
- 615 Madison (mls) listed on Sep 23 for $450k; reduced on Nov 18 to $425k; sold for $413k.
- 1200 Grand (mls) listed on Nov 9 for $479k; sold for $526k.
- 718 Bloomfield (mls) listed on Oct 27 for $315k; sold for $297.5k.
- 319 Park (mls) listed on Sep 30 for $629k; sold for $589k.
12 price reductions
191 Total Active 2BRs
Three Bedroom and Larger Hoboken Condos:
5 new listings
- 520 Park (mls) listed on Aug 30 for $587k; reduced on Oct 12 to $558k; Oct 27 to $530k; Jan 14 to $515k.
- 510 Monroe (C21) listed on Oct 18 for $465k; reduced on Oct 28 to $449k; Nov 16 to $439k; Dec 14 to $437k; sold for $430k.
- 1022 Hudson (mls) listed on Sep 20 for $799k; sold for $767.5k.
1 price reductions
38 Total Active 3BRs
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!