2011 Jul 11th

The June Hoboken Condo Sales Results

The June 2011 Condo Sales:

Below are the monthly sales figures through June.  The quarterly and half year analysis will be posted shortly so check back with us.  Thanks!

<h3>The May 2011 Condo Sales:</h3>
You know what pops out at me on this chart?  Something I’ve been talking about for a while now.  Look at the “discount off list”.  It’s down to 2.68%.  Do you wonder why?  Think about <strong>all the 3 bedroom units that have had multiple offers lately </strong>and sold for at or over asking.  That shows up in this number.  <strong>The buyers who think they are going to “get a deal” are mistaken. </strong>Properties, when priced correctly, are selling at numbers very close to the asking price.  Priced correctly – OK, there is room for dispute as to what ‘priced correctly’ means but I certainly know it when I see it.  That’s because I’ve seen, literally, thousands of properties and have a good basis on which to make that judgment.  Which is why it’s so important for buyers to look at lots and lots of properties.  It lets them develop their “value-meter’ so they can make that kind of assessment. The decrease in days on market further supports my belief that<strong> the good stuff is selling and selling fast. </strong>Or at least faster than they were.
<h3>Here is the update by bedroom size:</h3>
<strong>22 condo sales of 1 Bedrooms:</strong>
Avg. sales price =$351k
Size 709 sq ft
<em>$ / sq ft = 495</em>
DOM 74
<strong>45 condo sales of 2 Bedrooms:</strong>
Avg. sales price = $513k
Size 1173 sq ft
<em>$ / sq ft = 437</em>
DOM 68
<strong>11 condo sales of 3 Bedrooms:</strong>
Avg. sales price 684k
Size 1603
<em>$ / sq ft = 427</em>
DOM 74

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