2012 Feb 22nd

The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of February 22nd, 2012


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 [email protected] 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:

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

217 active Hoboken condo units – vs. 209 last week

1 Bedroom & Studio Condos

10 New listings

5 Price Changes

94 Active

1 DABO

1 Sold

2 Bedroom Condos

14 New listings

9 Price changes

101 Active

5 DABOs

5 Sold

3 Bedroom & Bigger Condos

2 new listings

No Price Changes

22 Active

1 DABO
  • 1034 Clinton St., listed Feb 13 for $589K;
2 Sold
  • 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;
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