2017 May 24th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of May 24th, 2017

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As of May 24, 2017:

  • 196 active Hoboken listings
  • 147 Condo & Co-op listings, compared to 128 last week
  • 32 Single-family listings, compared to 31 last week
  • 17 Multi-family listings, compared to 15 last week

 

This Week’s Residential Property Sales & Activity:

  • 12 DABOs (Deposit Accepted By Owner and Under Contract) vs 15 last week
  • 21 Sold vs 16 last week
  • 40 New listings vs. 36 last week
  • 15 Price changes vs. 10 last week
  • 0 expired listing vs. 1 last week

 

Studio & 1-Bedroom Properties

39 Active listings

7 New listings

4 Price changes

6 DABOs

  • 509 Monroe St., 3R listed May 11 for $335K;
  • 60 Madison St., 2L listed May 11 for $395K;
  • 420 Madison St., 3R listed May 15 for $435K;
  • 625 Willow Ave., 1R listed May 19 for $435K;
  • 137 Garden St., 4 listed April 18 for $488K;
  • 1500 Washington St., 7N listed Mar 11 for $600K; reduced May 11 to $595K;

7 Sold

  • 512 1st St., 4 listed Mar 25 for $329K; sold for $315K;
  • 68 Monroe St., 2A listed Mar 10 for $365K; sold for $381K;
  • 114 Monroe St., 2R listed Mar 24 for $379K; sold for $400K;
  • 916 Park Ave., 4 listed Mar 1 for $399K; sold for $425K;
  • 1500 Garden St., 2J listed Mar 15 for $525K; sold for $500K;
  • 300 Hudson St., 11 listed Jan 4 for $569K; reduced Mar 10 to $560K; sold for $544K;
  • 1450 Washington St., 1206 listed Jan 18 for $780K; reduced Jan 19 to $765K; sold for $760K;

 

2-Bedroom Properties

69 Active listings

23 New listings

6 Price changes

6 DABOs

  • 261 12th St., 3A listed May 18 for $549K;
  • 531-533 Jefferson St., 6 listed April 21 for $629K; reduced May 5 to $600K;
  • 623 Madison St., 3C listed May 18 for $650K;
  • 1100 Clinton St., 305 listed May 15 for $659K;
  • 700 1st St., 10G listed May 1 for $750K;
  • 222 Park Ave., 3 listed May 5 for $925K;
7 Sold
  • 224 Madison St., 4B listed April 5 for $475K; sold for $475K;
  • 610 Newark St., 3G listed Mar 15 for $615K; sold for $658K;
  • 812 Grand St., 416 listed Mar 22 for $700K; sold for $740K;
  • 1301 Adams St., 404 listed Mar 22 for $759K; sold for $815K;
  • 1300 Grand St., 416 listed April 6 for $800K; sold for $825K;
  • 70 Adams St., 5J listed Mar 10 for $849K; sold for $870K;
  • 1100 Adams St., 409 listed Mar 3 for $1.150M; sold for $1.125M;

 

3-Bedroom & Larger Properties

39 Active listings

10 New listings

5 Price changes

17 Multi-Family Active listings

32 Single-Family Active listings

3 DABOs

  • 1139 Garden St., listed May 5 for $1.399M;
  • 420 Hudson St., 1 listed Mar 24 for $2.0M; reduced April 19 to $1.940M;
  • 725 Park Ave., listed May 1 for $2.860M;

7 Sold

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Posted by Nathan Turoff | Currently 6 Comments »

2017 May 22nd

List Low – Sell High. Especially in Hoboken

Pricing a Hoboken Condo for Sale

I have had multiple conversation with sellers about how to price their Hoboken condo. With all properties, there exists a range of “reasonable” prices. Prices at which potential buyers won’t think, “OMG you’re got to be kidding”. Very often, the seller assumes pricing on the high end of that range will reap the highest sales price. Not true.

Selling a property is in large part a numbers game. The more views a seller gets, the more likely one is going to turn into an offer. Even more views, more offers. Many offers means some variety of “final and best” and the price gets bid up by the interested buyers. It takes a leap of faith for a seller to subscribe to the view that listing low yields high.

Here is a perfect example. 532 Bloomfield St. Four days on the market.

Screen Shot 2017-05-22 at 3.30.11 PM

 

 

 

 

 

 

 

 

 

 

 

 

Listed at $999,999 (lower than the Zestimate of $1,039,522).  But also under the million dollar mark.  Buyers have real resistance to paying the 1% mansion tax on over a million dollar properties – they often say they won’t even look at listings over that threshold, until they see them and want them. Property closed today for $1,165,000.(And it’s not the only example of a lower list price bringing way-over-asking sales prices.)

 

Posted by Lori Turoff | Currently No Comments »

2017 May 20th

The Hoboken & Downtown JC Open House Google Map for Saturday, May 20th & Sunday, May 21st, 2017

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 »

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