The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of February 22nd, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
IS YOUR PROPERTY TAX TOO HIGH?
I’ve received several inquiries recently from people flabbergasted by their property tax bill, wondering whether they can appeal the assessment on which their tax is based. Very often, the answer is “Yes”. If you think your property tax bill is too high, it may well be that the assessment used to determine your tax amount does not reflect the current market value of your property. Municipalities are notoriously slow to respond to downward changes in the real estate market. This is not surprising, as it is clearly in their interest not to.
If you are interested in an evaluation as to whether or not your property is a likely candidate for a successful appeal for a property tax reduction, just send an e-mail to us at turoffteam@gmail.com with your property address and we will do the research–free of charge–to determine whether an appeal seems worthwhile.
Now–let’s take a look at what happened in the Hoboken market over the past week:
This Week’s Condo Sales & Activity versus last week’s:
217 active Hoboken condo units – vs. 209 last week
- 7 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 6 last week
- 8 Sold vs. 6 last week
- 26 New listings vs. 27 last week
- 14 Price change vs. 20 last week
- 2 Expired listings vs. 3 last week
1 Bedroom & Studio Condos
10 New listings
5 Price Changes
94 Active
1 DABO
- 1500 Hudson St., 8P listed Sept 1 for $425K; reduced Nov 16 to $400K;
1 Sold
- 64 2nd St., 205 listed Sept 12 for $268K; sold for $255K;
2 Bedroom Condos
14 New listings
9 Price changes
101 Active
5 DABOs
- 800 Jackson St., 508 listed Feb 7 for $515K;
- 659 1st St., 508 listed Feb 1 for $640K;
- 550 Observer Hghwy 3B listed Jan 19 for $665K;
- 700 1st St., 3D listed Oct 24 for $440K;
- 463 1st St., 6E listed August 11 for $465K;
5 Sold
- 221 Willow Ave., 4L listed Nov 28 for $519K; sold for $500K;
- 312 Madison St., 4C listed Oct 27 for $425K; sold for $400K;
- 109 Jackson St., 4E listed Oct 26 for $450K; sold for $433K;
- 700 1st St., 4J listed Oct 3 for $450K; sold for $430K;
- 1500 Hudson St., 9G listed July 25 for $1.0Mil; sold for $940K;
3 Bedroom & Bigger Condos
2 new listings
No Price Changes
22 Active
- 1034 Clinton St., listed Feb 13 for $589K;
- 701 Monroe St., 5A listed Nov 16 for $559K; sold for $548K;
- 131 Jackson St., A listed Nov 16, 2009 for $699K; sold for $660K;