2012 Apr 4th

The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of April 4th, 2012

Here’s what I’ve seen this week:

Here’s what you’ve seen in the past several weeks, if you’re studying the figures in the Wrap-up:

The other day a new buyer called me about looking for a first home.  Her dad was going to help pay for it.  He told her she should be able to get something for 10 to 15% off the list price.  Do you know what the spread from list to sold was last month?  How about 2.79%?  That was the number for March.

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

235 active Hoboken condo units – vs. 235 last week

  • 11 DABOs (Deposit Accepted By Owner i.e. under contract) vs.11 last week
  • 16 Sold vs. 13 last week
  • 27 New listings vs. 30 last week
  • 16 Price changes vs. 15 last week
  • 1 Expired listing vs. 1 last week

1 Bedroom & Studio Condos

9 New listings

6 Price Changes

94 Active

2 DABOs

  • 909 Willow Ave., 3 listed Mar 20 for $255K;
  • 1450 Washington St., 401 listed Jan 18 for $433K; increased Feb 7 to $437K; increased Feb 11 to $444K; increased Feb 14 to $448K; increased Feb 19 to $452K; increased Feb 21 to $455K; increased Mar 27 to $459K;

6 Sold

  • 126 Madison St., 4 listed May 25 for $299K;  reduced Nov 4 to $279K; sold for $268K;
  • 931 Park Ave., 3L listed Jan 3 for $329K; sold for $310K;
  • 723 Washington St., 5 listed Feb 28 for $329K; sold for $315K;
  • 706 Willow Ave., 1R listed Feb 7 for $325K; sold for $330K;
  • 1100 Adams St., 309 listed Jan 19 for $419K; sold for $419K;
  • 707 Monroe St., 502 listed Jan 16 for $442K; sold for $435K;

2 Bedroom Condos

15 New listings

7 Price changes

117 Active

7 DABOs

  • 1112 Park Ave., 2L listed Mar 21 for $395K;
  • 318 Hudson St., 4F listed Mar 12 $425K;
  • 913-915 Willow Ave., 2A listed Nov. 8 for $465K; reduced Jan 20 to $450K;
  • 261 1st St., 2 listed Mar 13 for $541K; reduced Mar 12 to 514K;
  • 501-515 Adams St., 1A listed Feb 7 for $590K; reduced Feb 15 to $570K;
  • 800 Jackson St., 401 listed Feb 14 for $607K;
  • 81-87 Jackson St., 2B listed Jan 14 for $622K;

7 Sold

  • 358 14th St., 2 listed Mar 22, 2010 for $339K; reduced May 27, 2010 to $325K; reduced June 10, 2010 to $312K; reduced June 29, 2010 to $295K; reduced Aug 26, 2010 to $280K; reduced Mar 2011 to $275K; reduced April 7 to $250K; sold for $234K;
  • 700 1st St., 3D listed Oct 24 for $440K; sold for $430K;
  • 1120 Clinton St., 4B listed Jan 16 for $500K; sold for $490K;
  • 452 2nd St., 4 listed Feb 13 for $519K; reduced Feb 17 to $499K; sold for $505K;
  • 219-221 Grand St., 3B listed Oct 13 for $569K; reduced Nov 9 to $559K; reduced Nov 23 to $545K; sold for $530K;
  • 800 Jackson St., 601 listed Sept 6 for $655K; sold for $614K;
  • 101 Park Ave., 2D listed Feb 21 for $639K; sold for $635K;

3 Bedroom & Bigger Condos

4 new listings

3 Price changes

24 Active

2 DABOs
  • 200-202 Jackson St., 3 listed Feb 22 for $629K; reduced Mar 9 to $625K;
  • 915 Madison St., 5D listed Mar 14 for $675K;
3 sold
  • 114 Jackson St., 4 listed Feb 6 for $469K; sold for $476K;
  • 551 Observer Hghwy., PH-N listed Aug 20 for $744K; reduced Sept 19 to $717K; reduced Oct 4 to $667K; reduced Dec 8 to $567K; sold for $550K;
  • 714-716 Hudson St., 2 listed Oct 3 for $875K; sold for $999K;
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  1. Craig

    It’s nice to read that there’s been a feeding frenzy over Hoboken condos lately, and that they sell for close to asking price. But I’m not sure the news is all good for sellers when it comes to their bottom line. While I have no doubt my unit would attract a lot of attention where I to put it on the market, I doubt its value has budged much since I bought it in January 2010. After closing costs, I might not even get my entire downpayment back out of it. It thus follows that most who bought at the height of the market are still going to sell at a big loss. Good times.

  2. teaorcoffee

    The 1 bedroom listing at 1450 Washington – why did it increase so many times by such small increments in a relatively short period of time. Are the units that hot? And why in such small chunks?

  3. Lori

    1450 Wash is being sold by Toll. Who knows why they do what they do?

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