2012 May 16th

The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of May 16th, 2012

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

252 active Hoboken condo units – vs. 246 last week

  • 8 DABOs (Deposit Accepted By Owner i.e. under contract) vs 14 last week
  • 7 Sold vs. 15 last week
  • 39 New listings vs. 28 last week
  • 5 Price changes vs. 26 last week
  • 1 expired listing vs. 2 last week

1 Bedroom & Studio Condos

10 New listings

2 Price Changes

86 Active

2 DABOs

  • 209 2nd St., 1L listed April 25 for $219K;
  • 800-830 Jackson St., PH12 Listed May 1 for $350K;

3 Sold

  • 423 Jefferson St., 8 listed Feb 16 for $269K; sold for $269K;
  • 1125 Washington St., 4R listed Mar 19 for $345K; increased Mar 25 to $360K; sold for $345K;
  • 1122 Washington St., 3 listed Aug 17 for $369K; sold for $355K;

2 Bedroom Condos

25 New listings

3 Price changes

140 Active

4 DABOs

  • 1302 Park Ave., 2S listed April 23 for $409K;
  • 133 Grand St., 3 listed April 26 for $485K;
  • 635 6th St., 2D listed Dec 5 for $499K;
  • 1100 Adams St., 205 listed Mar 3 for $539K; reduced Mar 15 to $535K reduced April 13 to $525K;

4 Sold

  • 803 Willow Ave., 5N listed Feb 16 for $336K; sold for $325K;
  • 531 Jefferson St., 4 listed Jan 18 for $399K; sold for $381K;
  • 717 Willow Ave., 7 listed Feb 8 for $419K; sold for $406K;
  • 380 Newark St., 4D listed Feb 9 for $599K; sold for $585K;

3 Bedroom & Bigger Condos

4 New listings

No Price changes

26 Active

2 DABO
  • 213 Monroe St., 3 listed April 5 for $716K;
  • 233 Washington St., 3 listed April 10 for $989K; reduced May 3 to $960K;
None sold
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  1. Bajair

    From a seasonally adsujted perspective, inventory was up about 4%, but with sales picking up 14% even after accounting for the usual January to February increase, the market is getting warmer I wouldn’t say it is hot now though. Median and mean were basically flat since they usually go up a bit over January.Listings are definitely picking up they were up 12% in January and 13% in February probably a combination of listings hibernating for the winter and perhaps a rush to list before the mortgage rules change this month.All in all things seem almost perfectly balanced now but we’ll see if that continues past March 18th. Sales:New listings was flat when adsujted for seasonal changes so for sure I don’t see a crash or spike in prices ahead.For March end, the seasonal adsujted stats are expected to be:Inventory 4000 (I think it will be over 4000)Listings 2750Sales 1440Mean 475000Median 408000DOM 41Median and Mean usually go up quite a bit between February and March which is why I am forecasting an increase. Going back, this month is historically the best month for house price increases.

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