I love year end because it gives me lots of numbers to crunch and analyze. As an agent, the question I’m most frequently asked is “how is the market doing in Hoboken”. I hear other agents answer that all the time mostly with a bunch of meaningless nonsense. I like to let the numbers tell the story. Granted, there are lots of ways to look at it so I’ll give you a few. But before I do, a digression.
One of the most important decisions most people make in their lives is the one to buy or sell a home. It often represents the biggest investment you will ever make, as well. This is serious stuff! It deserves ones full consideration and attention. You would think this kind of transaction deserves to be treated with seriousness and respect, no? Yet I have noticed a trend that is truly disturbing.
Many of the agents I must deal with in the course of working with you to buy or sell your home no longer wish to pick up the phone and talk to me. They refuse to write anything down on paper or even in an email. That alone is problematic because then there is no record of what transpired. These agents find it appropriate to conduct business, serious business, the sale of your home, by text message. That’s right – your half million dollar or more investment is dealt with in unclear, poorly written snippets of text messages often sent while driving, distracted or who knows what else. Am I the only one who finds this outrageous? Would you let your stockbroker trade securities for you via text message? Or your doctor diagnose you by text message? What makes it acceptable to negotiate your offer by text? If you ask me, the answer is nothing! If your agent is conducting the business of the purchase or sale of your property via text message, it’s time to find another agent.
Back to the year end – here is an interesting chart with the supporting numbers below. These are the average (blue) and median (red) sales prices on an annual basis for Hoboken condos since 2000:
Looks to me like the news I hear everyday on Bloomberg is correct – we are in recovery mode. What do you think?