2012 Jul 13th

Hoboken Condo Sales for the 2nd Quarter 2012

Wow.

Anyone who doubts that the bottom has come and gone needs to take a long, hard look at this chart.  There are some real interesting changes happening in Hoboken, not the least of which is that prices are rising! Average sales price is up over 6% over last year and last quarter.  Price per square foot is up almost 10%.  That is a real, significant recovery.  Things are selling fast and for decent prices.  The spread off asking is almost half what it was.  There is not much out there to sell!  This, people, is a seller’s market.  Welcome once again to the new real-estate world order.  I read somewhere that if lending wasn’t so tight, we would have another bubble.  So true but so thankful it is tight.  Let’s move up nice and slowly the way it was in the ’80s and ’90s.

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  1. Jack

    Hi Lori,

    do you know what the average annual increase in prices was during the ’80s and ’90s?

    Thanks a lot

  2. Lori Turoff

    Hi Jack,

    That was before my time and no one that I know of kept (or currently keeps) records or did stats on Hoboken like I do. It was also before the MLS was “on-line”. I am sure you can search google for housing numbers on a state or national level that would tell you the trend of that era.

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