The December Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, monthly results
Looking Back at the Year in Hoboken Real Estate
The end of the year. What better time to look back and try to make sense of what happened. Perhaps use this as an opportunity to take some educated guesses about what’s ahead.
I look at the numbers below and see some very good things. Stability in our Hoboken housing market, for one. Prices are inching upwards. Not skyrocketing, but inching. The 3 and 6 month rolling averages show that. The quarterly figures show that. The average and median numbers show that. It’s a good thing.
I also see that inventory is still at an all-time low. People are staying put. My insight, having spent 10 years in the trenches, is that there is no quick profit to be made, no ability to leverage of the sale of a smaller property to buy a bigger one, and no more easy money. If you want to buy, you need to have saved. If you want to trade up to something with ‘room to grow’, you need to have saved. People who grew up living on credit are learning that they have to change the way they think and spend. In my opinion, that’s also a good thing.
Sellers are either learning to price their properties correctly or, the dearth of inventory is allowing them to get what they ask. Properties sell very, very close to list price nowadays. There are really no more ‘low-ball’ opportunities. If you are not willing to pay what they are asking, someone else is.
I’ll be posting more charts and graphs over the next week or two. But here’s the bottom line – Hoboken is a great place to live, as long as the PATH is running. (I was truly ready to move back to Manhattan when we were left with just the bus.) There will always be a demand for housing in a vibrant, young community in proximity to New York. Maybe the fact that people will be forced to stay here longer will prompt them to become more involved in their community. That’s yet another good thing.
| Currently 15 Comments »
The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of December 26th, 2012
Categories: For Buyers, For Sellers, Hoboken Brownstones, Hoboken Condos, Hoboken New Construction, Market Analysis, Weekly Wednesday Wrap Up
This Week’s Residential Property Sales & Activity:
128 active Hoboken listings:
- 121 Condo & Co-op listings, compared to 121 last week
- 7 Single- and multi-family listings, compared to 7 last week
- 3 DABOs (Deposit Accepted By Owner i.e. under contract) vs 5 last week
- 8 Sold vs. 15 last week
- 9 New listings vs. 13 last week
- 1 Price change vs. 3 last week
- 0 expired listing vs. 1 last week
1 Bedroom & Studio Properties
5 New listings
No Price changes
51 Active listings
0 DABOs
3 Sold
- 519 Willow Ave., 4 listed Sept 14 for $330K; sold for $320K;
- 812 Grand St., 306 listed Sept 27 for $399K; sold for $412K;
- 1025 Maxwell Ln., 909 listed Aug 17 for $575K; sold for $565K;
2 Bedroom Properties
4 New listings
1 Price change
58 Active listings
2 DABOs
- 815 Willow Ave., 5R listed Nov 25 for $399K;
- 1500 Hudson St., 5V listed Oct 17 for $700K;
4 Sold
- 825 Washington St., 3A listed Nov 4 for $460K; sold for $465K;
- 1120 Clinton St., 5A listed Aug 28 for $550K; sold for $533K;
- 1450 Washington St., 707 listed Oct 20 for $914K; sold for $911K;
- 1025 Maxwell Ln., 1002 listed Feb 7 for $1.595M; reduced July 17 to $1.550M; sold for $1.50M;
3 Bedroom & Bigger Properties
0 New listings
0 Price changes
14 Active listings
5 Multi-Family Active listings
- 101 Park Ave., PHN listed July 13 for $1.385M; reduced Sept 14 to $1.299M;
- 92 Grand St., listed Oct 24 for $1.025M; sold for $1.025M;
| Currently No Comments »
The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of December 19th, 2012
Categories: For Buyers, For Sellers, Hoboken Brownstones, Hoboken Condos, Hoboken New Construction, Market Analysis, Weekly Wednesday Wrap Up
This Week’s Residential Property Sales & Activity:
128 active Hoboken listings:
- 121 Condo & Co-op listings, compared to 124 last week
- 7 Single- and multi-family listings, compared to 9 last week
- 5 DABOs (Deposit Accepted By Owner i.e. under contract) vs 11 last week
- 15 Sold vs. 20 last week
- 13 New listings vs. 10 last week
- 3 Price changes vs. 1 last week
- 1 expired listing vs. 1 last week
1 Bedroom & Studio Properties
4 New listings
No Price changes
49 Active listings
3 DABOs
- 601 Monroe St., 4B listed Dec 12 for $264K;
- 622 Park Ave., 3B listed Nov 28 for $338K;
- 1125 Maxwell Ln., 528 listed Nov 14 for $625K;
4 Sold
- 326 Madison St., 1 listed Oct 1 for $315K; sold for $305K;
- 80 Park Ave., 4F listed July 16 for $319K; reduced Aug 20 to $312K; sold for $309K;
- 1212 Washington St., 4S listed Aug 7 for $350K; reduced Aug 20 to $340K; reduced Sept 11 to $330K; sold for $325K;
- 1125 Maxwell Ln., 222 listed Oct 16 for $660K; sold for $640K;
2 Bedroom Properties
7 New listings
2 Price changes
59 Active listings
2 DABOs
- 521 Adams St., 3 listed Dec 14 for $450K;
- 1022 Hudson St., 1 listed Dec 4 for $798K;
9 Sold
- 603 1st St., 2 listed May 14 for $399K; sold for $385K;
- 610 Newark St., 3G listed Sept 10 for $440K; sold for $445K;
- 805 Willow Ave., 1R listed Oct 10 for $485K; sold for $489K;
- 210 Jackson St., 3 listed Sept 27 for $550K; sold for $540K;
- 609-613 Jefferson St., 3C listed Sept 1 for $559K; reduced Sept 28 to $545K; sold for $545K;
- 508 1st St., 5 listed Aug 26 for $619K; sold for $603K;
- 601 Observer Hghwy., 201 listed Jun 5 for$675K; sold for $659K;
- 1500 Hudson St., 1G listed Sept 24 for $759K; sold for $725K;
- 1025 Maxwell Ln., 1002 listed Feb 7 for $1.595M; reduced July 17 to $1.550M; sold for $1.50M;
3 Bedroom & Bigger Properties
2 New listings
1 Price change
15 Active listings
5 Multi-Family Active listings
- 40 Willow Terr., listed July 16 for $550K; sold for $495K;
- 121 Monroe St., listed Aug 31 for $750K; sold for $746K;
| Currently No Comments »
