The average one bedroom condo in Hoboken now sells for over $500,000 and the average two bedroom condo for over $800,000. Once again, prices have increased 13% over a year ago. The overall average declined slightly from August but so did the average size. There simply were not that many big three bedroom units sold last month. On a price per square foot basis, September was higher than August.
The story has been the same for quite a few months now – prices keep going up. Hoboken real estate is getting more and more expensive. The demographics of the neighborhood are likely to change to reflect this trend.
Here are the September numbers: