2011 Nov 30th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of Nov. 30th

I got one of those postcards in the mail today from an agent who listed a property in town.  It boasted “our marketing strategy, combined with an aggressive sales approach, sold this home in just two weeks!“.  In fact, the property was listed by that agent in January of 2009 and expired after 3 months.  It was relisted by the same agent for $40,000 less two weeks later and again expired unsold after 4 months.  Then it was listed by a different agent for $100,000 less in March of 2011 and expired unsold 6 months later.  Finally, the agent who mailed the post card listed it for the 4th time and it went under contract in 35 days. Talk about exaggerated advertising claims!

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This Week’s Condo Sales & Activity versus last week’s:

  • 237 active Hoboken condo units – vs. 249 last week.  Inventory just keeps shrinking!
  • 5 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 13 last week
  • 4 sold vs. 10 last week
  • 7 new listings vs. 13 last week
  • 13 price changes vs. 9 last week
  • 3 expired listings vs. 2 last week

1 Bedroom & Studio Condos

1 new listing

2 price reductions

89 active

1 DABO

  • 1110 Clinton St., 7 listed Sept. 22 for $395K; reduced Nov 15 to $380K

1 Sold

  • 118 Clinton St., 10 listed Aug 10 for $260K; reduced Aug 29 to $256K, sold for $256K

2 Bedroom Condos

6 new listings

8 price reductions

120 active

4 Dabos

  • 1025 Maxwell Lane, 1108 listed Oct. 10 for $868K
  • 151 2nd St, 1-2E listed Sept 27 for $650K
  • 812 Grand St., 423 listed Sept 2 for $669K; reduced Oct. 20 to $649K
  • 257 12th St., 5A listed Feb 22 for $379K; reduced May 5 to $370K; reduced June 28 to $364K; reduced to Sept 16 to $357K

2 sold

  • 800 Jackson St., PH6 listed Sept. 9 for $605K; sold for $565K
  • 1125 Maxwell Lane, 1118 listed June 16 for $899K; reduced Sept 9 to $890K; sold for $865K

3 Bedroom & Bigger Condos

No new listings

3 price reductions

28 active

No DABOs

1 Sold

  • 1115 Willow Ave., 508 listed Sept. 7 for $599K; sold for $590K
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