2015 May 20th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of May 20th, 2015

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As of May 20, 2015:

  • 160 active Hoboken listings
  • 134 Condo & Co-op listings, compared to 138 last week
  • 17 Single-family listings, compared to 17 last week
  • 9 Multi-family listings, compared to 10 last week

 

This Week’s Residential Property Sales & Activity:

  • 19 DABOs (Deposit Accepted By Owner and Under Contract) vs. 24 last week
  • 33 Sold vs 27 last week
  • 34 New listings vs. 43 last week
  • 9 Price changes vs. 5 last week
  • 2 expired listings vs. 0 last week

 

Studio & 1-Bedroom Properties

42 Active listings

7 New listings

3 Price changes

6 DABOs

  • 1107 Washington St., 5 listed May 7 for $425K;
  • 616 Adams St., 4 listed Mar 25 for $439K; reduced April 21 to $427K;
  • 1127 Willow Ave., 1B listed April 7 for $470K;
  • 64 2nd St., 206 listed Mar 24 for $495K;
  • 1300 Grand St., 615 listed April 1 for $521K;
  • 1125 Maxwell Ln., 503 listed April 1 for $775K; reduced May 7 to $768K;

10 Sold

  • 128 Madison St., 4L listed Feb 27 for $335K; sold for $348K;
  • 1013 Park Ave., 5L listed Mar 17 for $359K; sold for $352K;
  • 700 1st St., 7R listed Jan 30 for $361K; increased Feb 13 to $380K; decreased Mar 17 to $361K; sold for $362K;
  • 230 Bloomfield St., 401 listed Mar 15 for $395K; sold for $415K;
  • 813 Willow Ave., 2N listed Mar 19 for $419K; sold for $425K;
  • 708 Willow Ave., 2A listed April 8 for $425K; sold for $430K;
  • 920 Jefferson St., 602 listed Mar 17 for $449K; sold for $449K;
  • 659 1st St., 209 listed Mar 31 for $495K; sold for $495K;
  • 1000 Hudson St., 402 listed Mar 9 for $478K; sold for $535K;
  • 1425 Garden St., 304 listed Feb 13 for $729K; sold for $725K;

 

2-Bedroom Properties

69 Active listings

22 New listings

3 Price changes

9 DABOs

  • 634 Park Ave., 3 listed Mar 23 for $475K; reduced April 10 to $449K;
  • 402 Adams St., 3 listed April 16 for $550K;
  • 531 Park Ave., 1 listed May 7 for $575K;
  • 610 Newark St., 7E listed April 29 for $550K; increased May 5 to $589K;
  • 700 1st St., 8G listed May 12 for $599K;
  • 1037 Park Ave., 2 listed May 14 for $625K;
  • 1200 Grand St., 517 listed May 4 for $650K;
  • 812 Grand St., 414 listed May 7 for $699K;
  • 1030 Hudson St., 5 listed May 13 for $750K;
18 Sold
  • 320 Madison St., 7 listed Mar 27 for $299K; sold for $330K;
  • 329 Adams St., 2 listed Feb 19 for $365K; sold for $388K;
  • 605 1st St., 2 listed Feb 18 for $389K; sold for $389K;
  • 811 Willow Ave., 5 listed Mar 17 for $515K; reduced April 7 to $499K; sold for $487K;
  • 1210 Park Ave., 1 listed Mar  27 for $565K; sold for $555K;
  • 209 Adams St., 2 listed Feb 9 for $514K; sold for $575K;
  • 501 9th St., 309 listed Feb 5 for $569K; sold for $581K;
  • 700 1st St., 6N listed April 9 for $590K; sold for $590K;
  • 108 Monroe St., 4C listed Feb 2 for $625K; sold for $660K;
  • 81 Monroe St., 1 listed Feb 25 for $680K; sold for $690K;
  • 904 Jefferson St., 3B listed Mar 8 for $675K; sold for $695K;
  • 915 Madison St., 2F listed Mar 12 for $700K; sold for $695K;
  • 510 Monroe St., 202 listed Feb 24 for $739K; sold for $752K;
  • 625 Jefferson St., 302 listed Mar 6 for $699K; sold for $755K;
  • 412 Washington St., 5C listed Mar 10 for $675K; increased April 3 to $760K; sold for $761K;
  • 1034 Clinton St., 414 listed Mar 6 for $829K; sold for $884K;
  • 163-165 Newark St., 5B listed Mar 11 for $899K; sold for $899K;
  • 1125 Maxwell Ln., 1119 listed Feb 11 for $1.349M; reduced Feb 21 to $1.299M; sold for $1.225M;

 

3-Bedroom & Larger Properties

23 Active listings

5 New listings

3 Price changes

9 Multi-Family Active listings

17 Single-Family Active listings

4 DABOs

  • 117 Willow Terr., listed April 16 for $749K;
  • 221 Madison St., 1 listed May 1 for $899K;
  • 302 Monroe St., 3B listed Feb 20 for $1.175M;
  • 162 9th St., listed April 15 for $1.395M;

5 Sold

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Posted by Nathan Turoff | Currently No Comments »

2015 May 15th

The Hoboken & Downtown JC Open House Google Map for Saturday, May 16th & Sunday, May 17th 2015

The Original and Best Open House Google Map!

 

Courtesy of the Turoff Realty Team

No need to register! No form to fill out!

Just click on the map below to see every Open House in Hoboken this weekend:

hoboken-open-house

Click HERE to see the Downtown Jersey City Open House Map

When you look at the maps, place markers are color coded:

  • Studios & 1BRs are red
  • 2BRs are green
  • 3BRs & Bigger are yellow
  • New listings are marked with a Push Pin icon (in the same color scheme.)

Click the “Address”, “Price” “Bed” or “Details” columns to sort the list of open houses in ascending or descending order.

Click on the location marker for:

Posted by Nathan Turoff | Currently No Comments »

2015 May 13th

The April Hoboken Condo Sales Results

Very often, I take a new buyer out to see some high-end properties in Hoboken and they tell me they think the unit is overpriced. A few days later, I get the email from the listing agent saying “thank you for showing 123 Main Street, we have received multiple offers and will be asking for your buyers’ best and final bid by noon on Tuesday”. The “overpriced” property then sells for more than the list price. This is not just anecdotal evidence of a sellers’ market. Here are the stats that show that properties in Hoboken are selling, on average, for over asking price.  Interestingly, this is happening across the board – 1 bedroom, 2 bedroom and 3 bedroom and bigger units.

Price per square foot for a Hoboken condo is well over $600 for all size categories and has jumped to $644 overall.  The median sales price for a condo in Hoboken is now $577,000.  According to the New York Times, “the median sales price in Brooklyn hit a record $610,894 in the first quarter of this year, marking the first time the median crossed the $600,000 threshold in the borough, according to a report prepared by the appraiser Jonathan J. Miller for the brokerage firm Douglas Elliman. That is still less expensive overall than Manhattan, where the median sales price was $970,000 for the same period, but apartments in certain Manhattan neighborhoods can be had for less.”  Overall, Hoboken is still a bargain.  More and more of my clients tell me they started out looking in Brooklyn or Queens and realized they couldn’t get what they want in their budget.  They came to Hoboken and were persuaded by its neighborhood feel and proximity to Manhattan. This year’s prices are a good 6% to 7%  above last year’s.  Inventory is still way down.  The competitive nature of the Hoboken real estate is market is not going away any time soon.

 

Here are the April numbers: Here’s what the 3 month moving average looks like: moving avgimage

Posted by Lori Turoff | Currently 5 Comments »

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