2011 Jul 27th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of July 27th

Back to the Future of Hoboken

Back in September of 2008 we suffered a major financial crisis. There were 288 Hoboken condos on the market at the start of September, 2008.  Later that month, Bear Sterns went under, Lehman went under, Fannie Mae and AIG were on the brink.  By the start of October, 2008, there were 358 Hoboken condo units for sale.

Today, we are on the brink of a national debt crisis.  There are only 339 active units in Hoboken. We haven’t seen a number that low since September 2008.  Maybe we are back to were we were before the credit crisis.  If only the other problems now on the horizon would be resolved.  A debt crisis can and will seriously impact the mortgage market and the housing market.

This Week’s Condo Sales & Activity:

  • 339 active Hoboken condo units – vs. 346 last week
  • 14 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 12 dabos last week
  • 13 sold vs. 19 sold
  • 23 new listings vs. 15
  • 12 price changes vs. 22
  • 3 expired listings vs. 4

Studio & 1 Bedroom Hoboken Condos:

5 new listings

6 dabos

  • 1500 Wash 7K listed on 4/29 for $465k;  reduced 5/12 to $449k;  5/26 to $429k
  • 800 Jackson 911 listed on 7/25 for $364k
  • 608 Mad #2 listed on 6/8 for $309k
  • 1125 Maxwell #510 listed on 1/10 for $699k;  reduced 2/23 to $685k;  5/5 to $$670k;  6/23 to $640k
  • 126 Madison #4 listed on 5/23 for $299k
  • 1025 Maxwell #800 lsited on 7/13 for $825k

4 sold

  • 73 Garden 3R listed on 4/4 for $285k;  sold for $285k
  • 427 Garden #3 listed on 5/17 for $385k;  sold for $382k.
  • 1027 Wash 4F listed on 9/29 for $245k;  sold for $235k.
  • 1500 Hudson 11B listed on 3/3 for $475k;  reduced 4/19 to $465k;  5/3 to $450k;  sold for $417k

4 price reductions

133 Total Active 1BRs

Two Bedroom Hoboken Condos:

13 new listings

5 dabos

  • 1425 Garden #7C listed on 12/29 for $1.299mil;  reduced on 4/27 to $1.275mil
  • 108 Jackson 2B listed on 6/14 for $485k;  reduced on 6/28 to $469k
  • 1032 Willow #3 listed on 5/19 for $390k
  • 806 Bloomfield #G listed on 6/20 for $665k
  • 703 Park #4 listed on $435k

7 sold

  • 1325 Adasm 504 listed on 3/22 for $459k;  sold for $450k
  • 717 Mad 3S listed on 5/16 for $487.5k;  sold for $475k
  • 1320 Bloom 2A listed on 5/9 for $419k;  sold for $382.5k
  • 703 Adams #2 listed on 2/15 for $629k;  reduced 2/15 to $609k;  sold for $595k
  • 133 Jackson 4A listed on 3/4 for $439k;  reduced 4/18 to $419k;  sold for $412k
  • 92 Mad 2B listed on 5/16 for $475k;  sold for $464k
  • 800 Jackson 701 listed on 2/17 for $613.8k;  sold for $584k

6 price reductions

165 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

5 new listings

1 dabo

  • 703 Monroe #4B listed on 7/9 for $549k

2 sold

  • 204 Newark #3 listed on 3/23 for $525k;  sold for $475k
  • 126 Monroe #1 listed on 3/17 for $569k;  reduced 4/13 to $550k;  sold for $542.5

no price reductions

40 Total Active 3BRs

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your best source for locating every open house in Hoboken. It is the single, most complete listing available and we were the first ones to do it. We compile the information by hand from all possible sources to provide you with all the information you need in one spot. It’s posted on Friday every week.

Want to Receive New Listings & Price Reductions Daily?

If you would like to be see 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  list.

For more information you can always contact us at 201 993 9500.

Thanks for reading and, as always, we welcome your comments!

  1. Chili Agee

    Can you easily tell how many units were available for sale when the market was at it’s worst, and what the absorbtion rate was at that time? What is the absorbtion rate now for the current 339 active units? Thanks for the great data Lori. No one else provides so much useful, free data – or such insightful analysis.

  2. morally_right

    This is a good example of what I was talking about last week. 23 new listings, 12 Dabos, and the inventory number goes down, while logic would say it should have gone up.

    I’ll second Chili, Lori puts a lot of data here so thanks.

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