2016 Jul 22nd

Taking the Long View in Hoboken Real Estate Sales

Here’s an interesting chart based on the quarterly sales results for Hoboken condo sales as reported on the MLS.  It’s nice to see that the market is did better the first quarter of this year compared to the same period a year ago.  What is much more enlightening is to compare this year’s results to those of 10 years ago.  When you buy real estate, it might be best to take along view of your investment.  Gains of over 35% are a very solid return and, often tax free if one lives in ones property.

  1. JC

    Thanks for this, IMO Sales price per Sq. foot would be the best way to properly compare the two years. Average List price would be skewed now that so many 3BR’s are being built. So a 29% change on PPSF annualized over 10 years comes out to 2.57% per year. Arguably keeping up with inflation or a bit higher. Of course since most buyers dont use all cash these gains are healthier on a Cash on Cash return. Plus tax benefits, gotta live somewhere argument, and tax free gains on primary residence, etc. Lots of articles coming out now about the way high end markets softening and the trickle down coming. We’ll see, but doubt there will be a significant correction, more like a multi year stall down or up a few points. Whatever, I’m not trading these things….

  2. Lori Turoff

    You would think average list price would be skewed by the 3 BRS but, in reality, there are not so many being built. The average size is barely up from where it was in the past. Keep in mind that sales through Toll sale office are typically NOT on the MLS and not included here.

    Thanks for your thoughtful comment. I tend to agree with you.

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