The April Hoboken Condo Sales Results
Categories: Hoboken Condos
Prices are still holding their own, in Hoboken. Activity is down as people choose to hold off on buying or selling unless there is a reason for them to have to move. That makes sense. At the same time, a lack of inventory relative to past years has likely causes prices to remain strong. Most properties, at least those which are not what I call “bruised apples” are selling at or over asking. We are not seeing price appreciation like past years but the market remains relatively strong and stable. Good news for Hoboken.
Mortgage rates remain extremely low. If any of you have been following the recent chaos in the bond market, you will know that these low rates are not going away any time soon. That brings a buyer’s monthly payment down to a more reasonable level compared to the days of 4% to 5% interest on a 30-year fixed rate mortgage.
The Wall Street Journal reported today that median home prices rose 8% year-over-year in March. Housing supply is contracting – sellers are not listing their homes now if they don’t need to sell. No one wants a bunch of strangers traipsing through their home right now. At the same time, buyers are waiting rather than go out looking for homes during a pandemic and uncertain financial times. Redfin claims that its measure of homebuying demand, which tracks buyer inquiries, was down 15% in the week ending April 26, compared to before the coronavirus was in the news. The article says that Fannie Mae expects the median existing-home price to tick up slightly from last year while Zillow predicts a drop of 2 to 3% by the end of 2020 with a recovery in 2021. Keep in mind that this is speaking of home sales at the national level. Hoboken has always been unique in that regard.
A big question that has yet to be answered is what will happen wiht mortgage-forbearance policies and if they end, will that lead to a wave of distressed sales and will even that result in driving prices down?
Here are the numbers:
Rolling average chart – be sure to scroll all the way to the right to April 2020:
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The Hoboken Weekly Wednesday Wrap Up for the Week Ending May 6th
Categories: Hoboken Condos
Week ending May 6th, 2020
If you want to see what’s currently for sale in Hoboken? Just click on the link directly below for all currently active properties. Want to see what’s new this week, look down a bit further for the new listing link with properties sorted by price.
This Week’s Residential Property Sales & Activity:
- 3 Pending (Deposit Accepted By Owner and Under Contract)
- 19 sold
- 19 New
- 6 Price changes
Studio & 1-Bedroom Properties
2 Pending
- 307 Monroe #1, listed 4/30 for $370k.
- 725 Jeff #46, listed 4/20 for $479k.
8 Sold
- 160 2nd St #2, listed 2/21 for $375k, sold for $375k.
- 1125 Wash 1F, listed 1/2 for $419.5, sold for $380k.
- 400 Madison #4, listed 2/12 for $440, sold for $441k.
- 456 9th #4, listed 1/17 for $549k, sold for $549k.
- 1500 Garden 10J, listed 9/28 for $549k, sold for $525k.
- 1500 Hudson 9S, listed 10/4 for $550k, sold for $550k.
- 1025 Maxwell 217, listed 9/27 for $565k, sold for $550k.
- 1125 Maxwell 426, listed 2/5 for $790k, sold for $768k.
2-Bedroom Properties
1 Pending
- 1025 Maxwell 902, listed 1/23 for $1.7mil.
8 sold
- 717 Willow #10, listed 1/7 for $530k, sold for $535k.
- 159 14th 3A, listed 1/27 for $549k, sold for $549k.
- 839 Willow #8, listed 3/3 for $575k, sold for $575k.
- 2 Constitution 611, listed 3/12 for $859k, sold for $839k.
- 1200 Grand 311, listed 1/19 for $939k, sold for $939k.
- 1100 Adams 207, listed 3/7 for $949k, sold for $940k.
- 124 Jeff B, listed 2/5 for $1.15mil, sold for $1.15mil.
- 1450 Wash 616, listed 3/3 for $1.159mil, sold for $1.13mil.
3-Bedroom & larger Properties
None pending.
3 sold
- 125 Willow Terrace, listed 2/6 for $1.05mil, sold for $1.045mil.
- 15 Willow Terrace, listed 1/23 for $1.1mil, sold for $1.1mil.
- 10 Paterson 5A, listed 10/23 for $1.446mil, sold for $1.3mil.
The information provided in this private transmission is only for the personal, non-commercial use of you, the consumer. It may not be reproduced or distributed in any manner. It may not be used for any purpose other than to identify prospective properties you the consumers may be interested in purchasing or renting.
Sales numbers rounded up for convenience. Information is deemed to be reliable but not guaranteed.
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The Hoboken Weekly Wednesday Wrap Up for the Week Ending April 29th
Categories: Hoboken Condos
Week ending April 29th, 2020
The market is crawling to a standstill. If you want to see what’s currently for sale in Hoboken? Just click on the link directly below for all currently active properties. Want to see what’s new this week, look down a bit further for the new listing link with properties sorted by price.
This Week’s Residential Property Sales & Activity:
- 5 Pending (Deposit Accepted By Owner and Under Contract)
- 8 sold
- 11 New
- 8 Price changes
Studio & 1-Bedroom Properties
None Pending.
5 Sold
- 917 Willow 3S, listed 2/19 for $435k, sold for $449k.
- 412 Monroe #3, listed 2/10 for $459k, sold for $461k.
- 1500 Garden 10J, listed 9/28 for $549k, sold for $525k.
- 219 Willow 3R, listed 11/4 for $579k, sold for $575k.
- 1125 Maxwell 426, listed 2/5 for $790k, sold for $768k.
2-Bedroom Properties
5 Pending
- 402 Adams #3, listed 3/26 for $619k.
- 625 Jeff 203, listed 4/14 for $719k.
- 416 Grand 2B, listed 4/21 for $727k.
- 1500 Wash 5X, listed 12/13 for $939k.
- 217 Willow #2, listed 3/11 for $1.115mil.
2 Sold
- 839 Willow #8, listed 3/3 for $575k, sold for $575k.
- 510 Park #4, listed 10/7 for $799k, sold for $790k.
3-Bedroom & larger Properties
None Pending.
1 Sold.
- 88 Madison #2, listed 2/3 for $1.695mil, sold for $1.695mil.
The information provided in this private transmission is only for the personal, non-commercial use of you, the consumer. It may not be reproduced or distributed in any manner. It may not be used for any purpose other than to identify prospective properties you the consumers may be interested in purchasing or renting.
Sales numbers rounded up for convenience. Information is deemed to be reliable but not guaranteed.
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