The 1Q Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Here are the results of the first quarter of 2012 Hoboken condo sales.
Looking at the chart we can learn a few interesting things. Since the middle of 2009 the market had been pretty stable. Going into the first quarter of this year, sales activity slowed a bit in Hoboken. The turmoil in the financial markets, especially the Euro-zone, may have played a part in this.
The number of condo sales in Hoboken was down 5% from last quarter but was still 5% higher than a year ago. Prices followed a similar pattern. We can see small drops in the past quarter from the previous quarter but compared to a year ago, there is definite improvement across the board.
What jumps off the page at me is the 44% decrease in inventory. There were only 235 condos for sale this year compared to 425 a year ago. That’s a huge difference and, in my opinion, is the reason why we are seeing multiple buyers bidding on the same properties day after day.
Looking at the chart above, it’s clear to me that the slide that occurred from ‘08 to ‘10 ended and the Hoboken condo market is on the rebound. Median sales price is said to be the best indicator of a market because it’s not so influenced by the high and low outliers. Medians been hovering around $400 a square foot for the past year.
On the street, I am seeing more listings every day yet as of today, we still have only 304 active condos for sale. I can’t wait to see what the second quarter brings and, as always, hope for Hoboken to have a strong and healthy real estate market. A good economy helps everyone.
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The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of April 18th, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
This Week’s Condo Sales & Activity versus last week’s:
257 active Hoboken condo units – vs. 254 last week
- 12 DABOs (Deposit Accepted By Owner i.e. under contract) vs.8 last week
- 19 Sold vs. 13 last week
- 27 New listings vs. 34 last week
- 7 Price changes vs. 10 last week
- 2 expired listings vs. 0 last week
1 Bedroom & Studio Condos
8 New listings
2 Price Changes
94 Active
4 DABOs
- 108 Jackson St., 2A listed Mar 19 for $335K;
- 1015 Washington St., 44 listed Mar 29 for $375K;
- 650 2nd St., 3K listed Mar 26 for $385K;
- 210 5th St., 4 listed April 3 for $419K;
8 Sold
- 333 Adams St., 5 listed Aug 2 for $270K; sold for $260K;
- 235 Park Ave., 2A listed Jan 27 for $265K; sold for $270K;
- 816 Willow Ave., 1L listed Sept 7 for $335K; sold for $330K;
- 456 9th St., 3I listed Feb 29 for $339K; sold for $339K;
- 812 Grand St., 212 listed Jan 19 for $375K; sold for $361K;
- 1500 Hudson St., 8P listed Sept 1 for $425K; reduced Nov 16 to $400K sold for $385K;
- 704 Clinton St., 3C listed Jan 30 for $399K; sold for $390K;
- 1412-1430 Washington St., 618 listed Sept 7 for $433K; sold for $426K;
2 Bedroom Condos
17 New listings
4 Price changes
137 Active
7 DABOs
- 214 Willow Ave., 3A listed Mar 15 for $500K;
- 159-161 Newark St., 4D listed Mar 26 for $520K;
- 1300 Grand St., 509 listed Feb 22 for $550K; reduced Mar 9 to $535K;
- 610 Newark St., 7D listed Mar 14 for $550K;
- 163-165 Newark St., 5B listed Mar 1 for $699K;
- 87 Park Ave., A listed Mar 29 for $749K;
- 1500 Hudson St., 2R listed Jan 4 for $775K; reduced Feb 16 to $750K;
7 Sold
- 1123 Washington St., 2 listed Nov 10 for $276K; reduced Jan 10 to $260K; sold for $216K;
- 207 14th St., 4L listed Jan 26 for $365K; sold for $350K;
- 202 Park Ave., 4 listed Sept 27 for $420K; reduced Nov 10 to $410K; reduced Jan 15 to $400K; sold for $380K;
- 107 Jackson St., 1 listed May 1 for $425K; sold for $415K;
- 833 Willow Ave., 1 listed Jan 11 for $575K; sold for $560K;
- 215 Grand St., 1R/2 listed Jan 20 for $574K sold for $574K;
- 550 Observer Hghwy., 3B listed Jan 19 for $665K; sold for $635K;
3 Bedroom & Bigger Condos
2 new listings
1 Price change
26 Active
- 315 Monroe St., 2 listed April 12 for $550K;
- 1034 Clinton St., 202 listed Feb 3 for $589K; sold for $584K;
- 111 Garden St., A listed Jan 17 for $915K; sold for $940K;
- 1450 Washington St., 610 listed Sept 7 for $950K; increased Oct 10 to $952K; sold for $952K;
- 327 Bloomfield St., 1 listed Feb 12 for $1.099Mil; sold for $1.10 Mil;
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The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of April 11th, 2012
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, Weekly Wednesday Wrap Up
This Week’s Condo Sales & Activity versus last week’s:
254 active Hoboken condo units – vs. 235 last week
- 8 DABOs (Deposit Accepted By Owner i.e. under contract) vs.11 last week
- 13 Sold vs. 16 last week
- 34 New listings vs. 27 last week
- 10 Price changes vs. 16 last week
- No expired listings vs. 1 last week
1 Bedroom & Studio Condos
9 New listings
4 Price Changes
95 Active
2 DABOs
- 118 Jefferson St., 3L listed Nov 17 for $229K;
- 222 Grand St., 1B listed Mar 5 for $400K;
2 Sold
- 160 2nd St., 2 listed Sept 8 for $250K; sold for $219K;
- 706 Willow Ave., 1R listed Feb 7 for $325K; sold for $330K;
2 Bedroom Condos
19 New listings
4 Price changes
131 Active
4 DABOs
- 509 Madison St., 4B listed Feb 23 for $440K;
- 109 Jackson St., 5D listed Mar 20 for $497K;
- 904 Jefferson St., 2K listed Feb 27 for $595K;
- 727 Jefferson St., 2 listed Feb 17 for $640K;
10 Sold
- 700 1st St., 3D listed Oct 24 for $440K; sold for $430K;
- 953 Bloomfield St., 4 listed Jan 16 for $459K; reduced Feb 17 to $449K; sold for $435K;
- 1325 Adams St., 605 listed Jan 10 for $499K; sold for $475K;
- 904 Jefferson St., 5F listed Jan 9 for $516K; reduced Jan 31 to $500K; sold for $490K;
- 800 Jackson St., 508 listed Feb 7 for $515K; sold for $498K;
- 452 2nd St., 4 listed Feb 13 for $519K; reduced Feb 17 to $499K; sold for $505K;
- 800 Jackson St., 706 listed Sept 7 for $538K; sold for $555K;
- 402 9th St., W5C listed Feb 6 for $599K; sold for $585K;
- 605-607 Willow Ave., 4A listed Jan 20 for $629K; sold for $605K;
- 833 Willow Ave., 4 listed Jan 11 for $729K; sold for $690K;
3 Bedroom & Bigger Condos
6 new listings
2 Price changes
28 Active
- 1103 Washington St., 8 listed April 1 for $489K;
- 603-607 Monroe St., 9 listed Mar 29 for $845K;
- 833 Willow Ave., 2 listed Jan 11 for $719K; sold for $700K;
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