February 2011 Hoboken Condo Sales Results
What does it mean? There isn’t much to say except that the market is clearly down from a year ago. Almost every measure shows a decline. Except for median price per square foot and inventory. That there are fewer units for sale is a good thing.
The surprising thing to me is that just last week I had multiple offers on my own listing, was involved in a multiple offer situation with one of my buyers (who did not get the property) and had another buyer who wanted to see a property this weekend but in just a week it is already under contract. For the more desirable units, it seems that prices have come low enough to make them attractive – to multiple parties.