2013 May 13th

The April Hoboken Condo Sales Results – And They’re Off!

Some Observations On the April Hoboken Condo Sales Results

With the recent Kentucky Derby in my mind, I can’t help but think we’re off to the races, folks.  If you’re not the first one in to the good property, be prepared to stick your hand in your pocket, big time.

Yes inventory has doubled but so have sales. There is essentially no more discount off list. You want it, you pay for it. (Bruised apples aside – I always say, when there are no apples in the cart hungry people will buy the bruised one. But the nice, shiny apples are being sold in a flash).

Average days on market hovering around 30 – which is nothing.  Average price per square foot is around $550 now.    Median sales price is up 25% from a year ago.  That’s encouraging many owners to sell but buyers are just snapping up those properties.  Number of units that went under contract this month is up over 80% from a year ago.  It is a seller’s market for sure.

I can’t get my usual nice chart to publish at the moment so here’s the link:

2013 MONTHLY spreadsheet – Apr’13

If anyone has any doubt about where the market is headed just look at this chart.  Then hurry – and get out to see those new listings before someone else does!


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