The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of March 14th, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
Hoboken Becomes More Bike Friendly by the Day
Kudos to the powers that be in City Hall for filling a much needed gap in bike parking at the PATH. This rack went up very recently and, on the first day of nice weather, it’s full. I love all the racks with the bike emblem along Washington Street where parking meters used to be, too.
This Week’s Condo Sales & Activity versus last week’s:
230 active Hoboken condo units – vs. 227 last week
- 9 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 4 last week
- 3 Sold vs. 20 last week
- 30 New listings vs. 32 last week
- 12 Price change vs. 11 last week
- 3 Expired listings vs. 2 last week
1 Bedroom & Studio Condos
10 New listings
4 Price Changes
100 Active
4 DABOs
- 1315 Washington St., 5B listed Jan 12 for $300K;
- 1015 Washington St., 52 lited Feb 23 for $325K;
- 503 Bloomfield St., 3 listed Mar 6 for 334K;
- 1500 Washington St., 10P listed Feb 21 for $459K;
1 Sold
- 1015 Washington St., 1 listed Jan 3 for $320K; sold for $312K;
2 Bedroom Condos
17 New listings
5 Price changes
105 Active
2 DABOs
- 58 Madison St., 8 listed Jan 6 for $285K;
- 833 Willow Ave., 1 listed Jan 11 for $575K;
2 Sold
- 1125 Maxwell Ln., 340 listed Feb 26 for $1.353Mil; sold for $1.3Mil;
- 1125 Maxwell Ln., 500 listed Jan 23 for $2.151Mil; sold for $2.097Mil;
3 Bedroom & Bigger Condos
3 new listings
3 Price changes
25 Active
- 327 Bloomfield St., 1 listed Feb 12 for $1.099Mil;
- 124-130 Park Ave., 2A listed Jan 10 for $1.855Mil;
- 225 River St., 2003 listed Jan 23 for $2.195Mil;
- 415 Madison St., 2 listed Dec 8 for $585K; sold for $560K;
- 222 Hudson St., 1 listed June 24 for $800K; reduced Nov 1 to $749K; sold for $685K;
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The February Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, monthly results
Some interesting trends are showing up in the Hoboken condo market. I’m seeing activity as measured by both sales and number under contract up and the number of listings way down. Look at the price per square foot by bedroom size! Here are the most recent numbers:
Here is more to ponder. If you’d like to see the interactive version of these charts, click here. Look at what’s happened to inventory over the past year + two months:
This one shows average sales price over the same period:
There is no question in my mind that the market is picking up.
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The Hoboken & Downtown JC Open House Google Map for Saturday, March 10th & Sunday, March 11th, 2012
Categories: For Buyers, Hoboken Brownstones, Hoboken Condos, Jersey City Condos, Open House
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
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 put the open houses in ascending or descending order.
Click on the location marker for:
- open house date
- time
- unit size
- asking price
- link to all the info found on the MLS and more (from ourHobokensBestHomes.com IDX feed.)
Who Represents Whom?
Did you know that the agent hosting an open house is the Seller’s agent? Whether it is the actual listing agent or any other agent from the same company, that person legally represents the sellers. Not only that, the hosting agent – by law – has a fiduciary duty to the seller to get that seller the highest possible price for that property. Do you think it might be a conflict of interest for that same person to then represent you? Many people think so. In fact, in many states (other than NJ) it is illegal for the same agent to represent the seller and also work with the buyer.
If You Thought Sunscreen & Condoms were the Only Protection You Need – You Are Wrong!
Interested in new construction – like Maxwell Place or Hudson Tea? Before you walk into the Toll Brothers Sales Office know what you are getting in to! Once you talk to the sales office – even casually – they WILL NOT compensate your agent if you go back with an agent. Of course, you should go back with an agent because:
1. The sales office works NOT for you but for the developer! They are Toll Brothers’ agent – not yours!
2. Despite what you may have heard or come to believe, Toll Brothers is NOT going to cut you a deal if you work with them without an agent.
Looking at resales? Did you know that when you go to an open house you can see the property at the open house on your own and then go back to it with your own agent? So if you see something you like at an open house you find your own agent who does not work for the seller. By the way, if the host says “oh, it’s not my listing, I’m not the seller’s agent” they are just flat-out wrong. The listing agreement a seller signs is between the seller and the brokerage company (Century 21, Coldwell, Remax, etc.). EVERY agent from that firm is the seller’s agent! So protect your interests. You’re making one of the biggest financial decisions of your life.
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