All Hoboken Open Houses - on an Interactive Google Map - for Saturday & Sunday, Nov. 8th & 9th
Categories: For Buyers, Hoboken Condos, Open House Map
Hoboken Open Houses for This Weekend
Here is this week’s Google Map of Hoboken open houses. In preparing this map, we have seen quite a few price reductions since last week. You can search by unit size, price or location. If you hover over the blue markers you can see more details. Double click on the “bubble” to get the details and a link to the MLS listing.
View Hoboken Open House Google Map
As always, we update this map with any last minute changes on Saturday morning so be sure to check back. Want to see a property but can’t get to the open house? Give us a call (201 993 9500) and we can set up a showing appointment for you. Be sure to check out our pick of “deal of the week”.
If you like what you’ve seen here, be sure to check out all the new listings, units under contract and sold properties and sales prices we post every Wednesday on the Weekly Wednesday Wrap Up. It’s a great way to keep your finger on the pulse of the Hoboken real estate market.
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Historically Low Mortgage Rates + Price Cuts = A Buying Opportunity in Hoboken Condos
Categories: Finance, For Buyers, Hoboken Condos
Mortgage Rates Have Been Below 6% Only 2 Times in Recent History
Yes, we are in difficult financial times and the economy is a mess. Be it due to a job transfer or job promotion, financial downsizing, a growing family with another baby, a marriage or divorce, or many other reasons, there will always be people who need to buy a condo in Hoboken. Here is an interesting chart that makes it very clear how low mortgage rates are today in relation to the past:
National Average Contract Mortgage Rates - 1963 to present
Price Reductions on Hoboken Condos Have Been Happening Like Crazy
If you follow Hoboken Condo price changes on the Weekly Wednesday Wrap Up you have seen that there have been reductions and more reductions. Many Hoboken sellers find themselves in a squeeze, either already in contract to buy elsewhere and forced to sell their current property, or unable to keep their current home because they’ve outgrown it. One glance down Washington Street on a sunny day and the ever increasing number of small childred in our community is obvious. Although the average price per square foot for a Hoboken condo has for the entire year been above above $500 per square foot, there are many Hoboken properties on the market today priced in the $400s. Many of these properties have NOTHING wrong with them (I’ve seen them) but have anxious sellers who are highly negotiable thanks to current market conditions. For those today’s Hoboken condo buyers, and they will always exist, the combination of historically low rates and reduced prices can make for an extremely attractive buy.
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The Weekly Wednesday Wrap Up - Hoboken Condo Sales, Inventory & Activity, the Week of Nov. 4th
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
Studio & 1 Bedroom Hoboken Condos:
7 sold in an average of 38 days at an average sale price of $433,571 representing a discount of 4% off the average list price
View 1BR SOLD Listings
None under contract this week.
171 total active with an average asking price of $470,224 View 1BR Active
8 new listing with an average list price of $549,836 View 1BR NEW Listings
Two Bedroom Hoboken Condos:
10 sold in an average of 123 days at an average sale price of $569,140 representing a discount of 3% off the average list price
View 2BR SOLD Listings
2 under contract this week in an average of 107 days View 2BR DABO Listings
308 total active with an average asking price of $657,750
View 2BR ACTIVE (first group of 150 properties)
View 2BR ACTIVE (rest of properties)
(I can only link to 200 at a time)
21 new listings with an average list price of $475,757 View 2BR NEW Listings
Three Bedroom and Larger Hoboken Condos:
None sold this week.
None under contract this week.
58 active 3BR condos for sale with an average asking price of $1,010,613 View 3BR ACTIVE Listings
4 new with an average asking price of $886,725 View 3BR NEW Listings
Compare to last week: Week Of Oct. 28
PRICE CHANGES ON HOBOKEN CONDOS FOR SALE
30 listings with price changes on Hoboken condos for the past 7 days: View PRICE CHANGES
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Hoboken Condo Sales Results - October 2008
Categories: For Buyers, For Sellers, Hoboken Condos
Looking for Market Analysis? Here are the October Hoboken Condo Sales numbers:
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Are Bargain Hunters Shopping for Hoboken Condos?
Categories: For Buyers, For Sellers, Market Analysis
Some Hoboken Condos May Be Cheap Enough To Buy Now
The Wall Street Journal today had an article stating that low prices on condos & homes have started to spur sales in some parts of the country. A quarterly survey of housing data in 28 metro areas shows the glut of unsold homes is shrinking in most of them. Some of these properties are being bought by investors seeking rental units. Others may be home buyers who are seeing deals too good to be true and prices low enough to finally motivate buyers to take action.
How Does The Hoboken Condo Market Compare?
According to the article, inventory in Manhattan was up 34.6% from a year ago. The NJ suburbs were down 3%. The figures were taken from the MLS at the end of June. I don’t have numbers for Hoboken but there can be no doubt that Hoboken condo inventory is up from a year ago. Hoboken condo inventory is probably more in line with Manhattan than the ‘burbs.
The other interesting number in the article was “months supply” (or absorption rate for those of you who have been following along). In Manhattan it’s 6.3 months. In the NJ suburbs, 11.2 months. So while Manhattan may have had a greater increase in inventory, sales are still brisker than in outlying areas. There is currently a 7.87 month supply of Hoboken condos on the MLS.
Finally, median sales prices in Manhattan were down 7.7% over last year. The median sales price for Hoboken condos listed on the MLS was $485,000 September 2007. It was up to $489,000 as of the end of this September.
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