2017 May 3rd

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of May 3rd, 2017

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As of May 3, 2017:

  • 170 active Hoboken listings
  • 128 Condo & Co-op listings, compared to 129 last week
  • 29 Single-family listings, compared to 30 last week
  • 13 Multi-family listings, compared to 14 last week

This Week’s Residential Property Sales & Activity:

  • 14 DABOs (Deposit Accepted By Owner and Under Contract) vs 16 last week
  • 27 Sold vs 18 last week
  • 27 New listings vs. 48 last week
  • 9 Price changes vs. 13 last week
  • 1 expired listing vs. 2 last week

Studio & 1-Bedroom Properties

38 Active listings

9 New listings

4 Price changes

6 DABOs

  • 205 Park Ave., 4 listed April 21 for $528K;
  • 551 Observer Hghwy., 14F listed April 20 for $529K;
  • 551 Observer Hghwy., 9G listed April 20 for $539K;
  • 125 Garden St., 9G listed April 2o for $539K;
  • 812 Grand St., 508 listed April 25 for $595K;
  • 202 5th St., 2 listed April 18 for $645K;

10 Sold

  • 605 1st St., 4L listed April 17 for $372K; sold for $372K;
  • 410 Jefferson St., 1L listed Feb 17 for $389K; sold for $385K;
  • 124 Madison St., 3L listed Mar 29 for $389K; sold for $430K;
  • 627 Willow Ave., 10 listed Feb 14 for $459K; sold for $453K;
  • 1115 Willow Ave., 2-02 listed Jan 24 for $495K; sold for $485K;
  • 118 Bloomfield St., 2 listed Jan 18 for $505K; sold for $532K;
  • 1110 Clinton St., 12 listed Mar 8 for $500K; sold for $549K;
  • 109 Jackson St., 2F listed Mar 1 for $549K; sold for $565K;
  • 1300 Hudson St., B5 listed Mar 3 for $549K; sold for $650K;
  • 1450 Washington St., 521 listed Feb 16 for $695K; sold for $690K;

2-Bedroom Properties

52 Active listings

12 New listings

2 Price changes

6 DABOs

  • 1110 Clinton St., 14 listed April 24 for $620K;
  • 312 Madison St., 2B listed April 20 for $679K;
  • 1201 Adams St., 406 listed April 25 for $769K;
  • 727 Monroe St., 408 listed April 19 for $775K;
  • 82 Clinton St., 4C listed April 25 for $929K;
  • 1500 Washington St., 2I listed Mar 1 for $1.095M; reduced April 20 to $1.070M;
14 Sold
  • 309 2nd St., 2 listed Mar 21 for $600K; sold for $635K;
  • 501 9th St., 509 listed Jan 19 for $615K; sold for $636K;
  • 501 9th St., 508 listed Mar 1 for $635K; sold for $700K;
  • 607 1st St., 1 listed mar 10 for $650K; sold for $701K;
  • 700 Bloomfield St., 2 listed Mar 16 for $690K; sold for $770K;
  • 259 12th St., 1B listed Mar 14 for $800K; sold for $800K;
  • 210 Jackson St., 3 listed Jan 25 for $875K; reduced Feb 17 to $850K; sold for $840K;
  • 400 9th St., W3H listed for $829K; sold for $880K;
  • 1500 Washington St., 9A listed Feb 21 for $915K; sold for $930K;
  • 1500 Hudson St., 7M listed Jan 17 for $979K; sold for $955K;
  • 503 Bloomfield St., 1 listed Feb 16 for $935K; sold for $967K;
  • 151 2nd ST., 1-2E listed Mar 13 for $969K; sold for $1.0M;
  • 1100 Maxwell Ln., 622 listed Mar 8 for $1.149M; sold for $1.157M;
  • 1500 Garden St., 3K listed Jan 12 for $1.365M; sold for $1.315M;

3-Bedroom & Larger Properties

38 Active listings

6 New listings

3 Price changes

13 Multi-Family Active listings

29 Single-Family Active listings

2 DABOs

  • 2 Constitution Ct., 102 listed April 19 for $1.599M;
  • 113 Bloomfield St., listed April 13 for $1.799M;

3 Sold

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  1. JC

    Looking at these 2 BR above list sales I thought this was the silicon valley real estate news. Craziness. 700 Bloomfield almost $1000/SF. Nice looking place with parking, but whoa. Congrats to seller.

  2. Lori

    Seriously.

  3. Lori

    Oh – and the second “bedroom” doesn’t even fit a bed.

  4. KD

    2 units on Bloomfield this week went for over ask pricing. Interested to see what 532 goes for.

  5. Lori

    Only 4 days on the market? That means it went for at LEAST full price. Probably more.

  6. Bbandit

    What do you guys think..how much will property prices in hoboken rise this year? Last year it was up 12% year over year. Do you guys think the rising mortgage rates will put a debt or slow down the sales price?

  7. JC

    Not unless mortgage rates skyrocket quick will it have any negative consequence. Historically mortgage rates are still extremely attractive. I think we are due for a neutral year since its been off to the races since about 2010/2011. But, I’m always conservative.

  8. Lori Turoff

    I agree with JC. Hoboken property taxes up 12% last year? Source?

  9. bbandit

    Lori i meant property prices not taxes my source was Zillow. I bought a condo last year (September) in Hoboken but my wifes company is now asking her to move down to Charlotte, North Carolina. She has convinced them since we just bought the condo that we cant move until our 2 years are up for now they have agreed. We dont want to rent the place as we fear tenants might mess up the place. The whole point i am trying to get at is that in next 2 years will my condo price rise atleast 10% for me break-even. Considering the fact that mortgage rates are on the rise it will naturally cool down the surging condo prices. I dont think getting 10% rise by May 2019 would be unrealistic but considering that mortgage rate at that time would be around maybe 5% (hypotehtical). Would that have just level off the prices or have negative downturn that is what worries me. Any thoughts.

  10. JC

    BBandit…I think regardless of what the market does your wife should ask/negotiate a relocation package to assist not only with your actual moving but other costs associated with moving (your closing costs, etc.). Not sure where you got 10% from to break even…I guess 5% commission to sell and closing costs on both ends of transaction. Lori knows better but unless there is a HUGE event like 9/11, Real estate downturns take awhile to top then neutralize then turn down. May 2019 is awhile away, but it is what it is. Hopefully the opportunity in Charlotte outweighs any negative prices of your home if any.

  11. JB

    I think 10% is a fair rise this year – the limited supply and Hoboken’s continued popularity will fuel it in my mind.

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