2011 Aug 17th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of August 17th

Why You Should Follow Me On Twitter!

It has become trendy for real estate agents to post on twitter.  They learn at seminars and webinars that you need to “use social media” to be relevant.  What they often don’t learn is that nobody cares if what you are tweeting is self-promoting crap.  Like 10 of your own listings in a row, for example.

I tweet but I try to say something interesting, insightful & relevant.  This week, for example, I pointed out a unit that was 2 years old and for sale but the sellers were asking more than they paid for it never-lived-in.  Why would anyone pay more for something used?  I tweeted about a listing on Monroe that was a typical new construction 2br with nothing really special about it listed for over $680k.  Why should any unit in that location command that price?  I also tweeted about some awesome pizza in NYC which we DO NOT HAVE in Hoboken.  That one wasn’t about real estate but I couldn’t help myself.

So if you are interested in some honest critique of what’s going on in Hoboken real estate (and Hoboken in general), follow me at twitter.com/HobokenRENews.  If you like this blog, you will probably like my tweets, though some other realtors in town may not.  Frankly, I don’t give a hoot.  And speaking of hoots, if you’re not using HootSuite, you should.

Finally, sorry this is late today.  I’m on vacation – yeah, right.  But I did go for a 60 mile bike ride.  If anyone can tell me how to clean up the html to fix my font inconsistency I would be most appreciative!  Thanks!

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This Week’s Condo Sales & Activity:

Studio & 1 Bedroom Hoboken Condos:

5 new listings

4 dabos

7 sold

4 price reductions

122 Total Active 1BRs

Two Bedroom Hoboken Condos:

13 new listings

8 dabos

13 Sold

155 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

3 new listings

1 dabo

none sold

1 Price Reduction

34 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!

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  1. bz

    The inventory has been at low 300s range for a while, and the sales have been keeping up at 70 or so per month. Is it considered as a normal market in terms of supply-demand goes?
    I know that Hoboken rental market is hot again this year, probably hotter than the pre-crash years. It might be a sign for a beginning of another cycle?

  2. Lori Turoff

    The measure used to “test” if a market is healthy is called Absorption Rate. It basically tells you how long it would take for all the current inventory to sell assuming the rate of sales stays constant. So 300 units divided by 70 sales per month gives us a 4.2 month supply. Traditionally, anything less than 5 months meant it was a seller’s market. Having just looked at the stock market and economic news, I dare say we should not rely on traditional measures in today’s economic climate. Nonetheless, inventory has been consistently low compared to many past years. That has to be a good thing unless, like with the unemployment rate, it means that sellers have simply stopped trying. If that were true, you would think there would be more rental units available and we wouldn’t see the constant multiple offers for rentals that we’ve experienced lately. Seems very contradictory to me.

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