Sales price, in terms of average sales price, backed off a little this month. But – the average size unit sold in March in Hoboken was under 1000 square feet and there was only 1 (small) three-bedroom sale. I would propose that those families with the strollers didn’t want to traipse around in the heavy snow back in January (when March closings are born). Next month we are likely to see the effect of the bigger unit sales hitting this chart. My buyers have had to deal with multiple offers on every single one of them.
Other points of note:
– the average price of a one-bedroom in Hoboken condo has hit $600 a square foot;
– it’s getting harder and harder to buy a two-bedroom Hoboken condo for under $600,000;
– Hoboken condos sell for even closer to asking price than in the past.
Here is the March chart: