Categories: Weekly Wednesday Wrap Up
Last weekend I was out with buyers all day Saturday and Sunday. I came home and said to my husband “there is a lot of crap out there”. In the old days, during the bubble, even the crap would sell. Today it sits. The price gets reduced again and again and, eventually, it either sells, gets rented, or expires. This is what buyers read in the media and hear through the grapevine.
What they don’t hear so much is that the really nice properties (and they are not so common) end up with multiple offers. Still. They may not always be over asking but often go for at or pretty near asking. The cream of the crop sells quickly and there have often been offers within the first week of listing. I’ve had several of my buyers be outbid in the past month. A few were looking for large units (over 1200 sq. ft). All wanted the usual – parking, w/d, elevator, decent location, 2 or 3 bedrooms. Others were looking for the standard 2br 2bath with parking and an elevator, a balcony and gym and not on Jackson. Guess what – there are not enough of these units to meet the buyers demand. It is sometimes hard for a buyer to believe this to be the case. After they lose out on a few prime units, they start to understand. Inventory, in the meantime, keeps shrinking.
Think about this – there are only 34 three bedroom condos on the MLS for sale in all of Hoboken. I see about 34 moms with double strollers on Washington Street just on my way to the office in the morning. Demand is out pacing supply in certain market segments.
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.
- 364 active Hoboken condo units – vs. 370 last week
- 13 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 16 dabos last week
- 22 sold vs.1 6 sold
- 31 new listings vs. 34
- 20 price reductions vs 15
- 11 expired listings vs. 4
Studio & 1 Bedroom Hoboken Condos:
11 new listing
- 700 1st (mls) listed on Nov 30 for $425k.
- 1200 Grand (mls) listed on Mar 4 for $405k.
- 724 Bloom (C21) listed on Feb 16 for $340k.
- 600 Hudson (mls) listed on Jul 29 for $429k; reduced on Feb 25 to $415k.
- 1013 Park (mls) listed on Jan 26 for $274k; sold for $266.5k.
- 903 Willow (mls) listed on Mar 10 for $310k; sold for $295k.
- 1016 Wash (mls) listed on Feb 3 for $339k; sold for $300k.
- 456 9th (mls) listed on Jan 4 for $370k; sold for $357k.
9 price reductions
139 Total Active 1BRs
Two Bedroom Hoboken Condos:
17 new listings
- 201 Bloom (mls) listed on Mar 21 for$475k.
- 920 Jeff (mls) listed on Feb 28 for $459k.
- 1021 Grand (mls) listed on Feb 7 for $475k; reduced on Feb 23 to $465k.
- 530 Mad (mls) listed on Feb 12 for $519k; reduced on Mar 7 to $498k.
- 402 9th (mls) listed on Mar 1 for $624k.
- 80 Monroe (C21) listed on Mar 23 for $569k.
- 215 Monroe (mls) listed on Feb 21 for$520k; sold for $491k.
- 77 River (mls) listed on Oct 7 for $559k; sold for $532k.
- 261 12th (mls) listed on Jan 20 for $375k; sold for $363k.
- 904 Jeff (mls) listed on Jan 19 for $539k; sold for $536k.
- 326 Monroe (mls) listed on Dec 2 for $499k; reduced on Feb 22 to $489k; sold for $475k.
- 820 Hudson (mls) listed on Oct 29 for $599k; sold for $575k.
- 123 Jackson (mls) listed on Apr 27 for $540k; reduced on Aug 11 to $500k; sold for $490k.
- 517 Adams (mls) listed on Sep 11 for $689k; sold for $660k.
- 1000 Hudson (mls) listed on Sep 27 for $559k; reduced on Nov 17 to %529k; sold for $498k.
- 76 Jackson (mls) lsited on Jan 10 for $375k; sold for $350k.
- 1200 Grand (mls) listed on Feb 8 for $489k; sold for $520k.
- 119 Mad (C21) listed on Feb 3 for $489k; sold for $489k.
- 830 Monroe (mls) listed on Oct 28 for $455k; reduced on Oct 28 to $440k; on Dec 8 to $425k; sold for $420k.
- 1425 Garden (mls) listed on Dec 29 for $1.30mil; sold for $1.2mil.
- 1025 Maxwell (mls) listed on Dec 20 for $875k; sold for $848k.
10 price reductions
191 Total Active 2BRs
Three Bedroom and Larger Hoboken Condos:
3 new listings
- 201 Bloom (mls) listed on Mar 21 for $475k.
- 609 Observer (mls) listed on Jan 13 for $900k.
- 715 Mad (mls) listed on Aug 2 for $785k; reduced on Oct 11 to $775k; on Nov 13 to $770k; sold for $740k.
- 715 Mad (mls) listed on Aug 12 for $825k; reduced on Oct 11 to $815k; Nov 13 to $810k; sold for $750k.
- 1425 Garden (mls) listed on Dec 29 for $1.2825mil sold for $1.2mil.
1 price reduction
34 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!