2020 Jan 7th

The December Hoboken Condo Sales Results

There was a bit of a bounce back in sales prices in December, though the number of properties listed this past month dropped dramatically.  The holiday season will do that.  What strikes me, looking at these statistics over time, is the strong price appreciation in the 3-bedroom plus category.  The story I read here is that families are staying in Hoboken longer and want fancy new, very big homes with 4 bedrooms.  Those units are going to cost you around 1.3 million.  Still considerably less than a brownstone and the features are entirely different.  Would you rather have parking and an elevator or your own house and a yard?  There is a big difference in location, too, as most of the new construction, larger condos are on the west side all over town (where there used to be factories) while the renovated brownstones are on the east side and uptown where they have stood for the past 100+ years.

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