2014 Oct 8th

The September Hoboken Condo Sales Results

Technical problem solved.  Here are the September numbers.  Up, up and away!

prices

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  1. Bob

    Why was the average $/sq ft up but the median $/sq ft down from prior month? Was there a new luxury building that opened with high $sq foot that skewed the average up from the prior month? It is a bit worrisome that median $/sq ft and the discount rate were at their worst level in 6 months. Worried the bubble is popping. Thoughts?

  2. Lori Turoff

    @bob: What evidence is there that there is a “bubble”?

  3. Bob

    I hope theres not, just pointing out that it was a somewhat poor month and i am hoping it is not a sign of things to come.

  4. Lori

    A poor month? I don’t see that at all.

  5. Edward

    Thanks for all the numbers Lori. No idea how anyone could objectively claim that was a poor month.

  6. Bob

    I am not trying to be difficult or controversial, I just would think median $/sq foot is much better indicator than average, and the median amount was as low as its been in months (also the discount rate which i think is important). Maybe “poor” isn’t the best word to describe the month, but i do think that there must have been some new property sales that might make the numbers look prettier than reality. For full disclosure, I am an actuary and may put too much weight on statistical analysis above general macroeconomic conditions. Anyways, looking forward to October results, and thanks for all this info Lori, your blog is very helpful!

  7. Lori Turoff

    Bob – As a statistician then, as I am not, what does it tell you when you have a skewed distribution?

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