2016 Jan 13th
The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of January 13th, 2016
Categories: For Buyers, For Sellers, Hoboken Brownstones, Hoboken Condos, Hoboken New Construction, Market Analysis, Weekly Wednesday Wrap Up
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- 111 active Hoboken listings
- 97 Condo & Co-op listings, compared to 85 last week
- 9 Single-family listings, compared to 8 last week
- 5 Multi-family listings, compared to 4 last week
This Week’s Residential Property Sales & Activity:
- 9 DABOs (Deposit Accepted By Owner and Under Contract) vs 3 last week
- 10 Sold vs 15 last week
- 30 New listings vs. 17 last week
- 7 Price changes vs. 1 last week
- 0 expired listings vs. 3 last week
Studio & 1-Bedroom Properties
28 Active listings
10 New listings
2 Price changes
3 DABOs
- 308 Monroe St., 3L listed Jan 5 for $319K;
- 800 Jackson St., PH12 listed Dec 11 for $479K;
- 812 Grand St., 422 listed Jan 7 for $520K;
3 Sold
- 354 1st St., 3F listed Oct 1 for $275K; sold for $285K;
- 79 Monroe St., 2FN listed Nov 2 for $399K; sold for $395K;
- 1450 Washington St., 602 listed Sept 17 for $665K; sold for $660K;
2-Bedroom Properties
52 Active listings
15 New listings
3 Price changes
4 DABOs
- 400 Jefferson St., 6 listed Nov 17 for $395K;
- 610 Newark St., 4H listed Dec 17 for $628K;
- 132 Monroe St., 4A listed Dec 17 for $629K;
- 400 9th St., W5G listed Dec 17 for $895K;
6 Sold
- 815 Park Ave., 3R listed Nov 18 for $400K; sold for $440K;
- 1114 Hudson St., 4 listed Aug 20 for $470K; sold for $468K;
- 300 Newark St., 7 listed Nov 5 for $599K; sold for $600K;
- 129 Harrison St., 1 listed Sept 28 for $675K; sold for $667K;
- 108 Madison St., 3 listed Oct 13 for $800K; reduced Nov 10 to $775K; sold for $775K;
- 609 Observer Hghwy., 403 listed Oct 2 for $825K; reduced Oct 15 to $799K; sold for $810K;
3-Bedroom & Larger Properties
17 Active listings
5 New listings
2 Price changes
5 Multi-Family Active listings
9 Single-Family Active listings
2 DABOs
- 720 Willow Ave., 2 listed Nov 13 for $1.0M;
- 64 Jefferson St., B listed Oct 8 for $1.350M;
1 Sold
- 618 Madison St., 2 listed Oct 1 for $940K; sold for $982K;
It seems like properties are selling at ask or slightly below the last few weeks.
Would love your take on if this is this related to market seasonality or sellers pricing properties at more realistic prices? It doesn’t seem like the market is softening in Hoboken but these list v. sales prices don’t indicated bidding wars like we’ve seen in past two years.
It takes about 45 days for a property to close so these closings reflect the height of the holiday season. I’ve had multiple bid situations on every deal I’ve been involved with in recent weeks. If anything, I think it’s getting worse, not better.
Hi
My neighbor just sold his unit at 815 Park 701 Sq ft) 40K higher than asking
All good here!
He purposely priced it very low to solicit multiple bids. A common strategy these days. And it works.
My prediction is that we’ll start to see a little bit off a slowdown around March. There are a couple of factors such as the stock market (less “real” money and less comfort about future prospects/investing so much in R/E), rising interest rates as well as expected profit taking (somewhat related to the first two) that I think will start to put some pressure on the Hoboken real estate market.
I don’t think we’ll see prices drop significantly, just a slowing down/slight pull back.
Hoboken real estate is a much better deal than Manhattan. The stock market is a different asset class. Sometimes investors move funds from one asset class to invest in another.