The November Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis, monthly results
I know it’s mid-December but better late than never. I especially wanted to get this out before the Holidays to keep you up to date on what is going on in the Hoboken condo market because in January we will have lots of new analysis for you to review – not just monthly results, but quarterly and yearly. It should be pretty interesting. We will be posting our annual Happy Holiday greeting later this week, too.
| Currently Comments Off
The August Hoboken Condo Sales Results
Categories: Hoboken Condos, monthly results
The August Sales Results
I’ve had quite a few people ask me if I’ve seen any affect of the recent turmoil in the financial markets on the Hoboken real estate market. In all honesty, I have not. There have not been any buyers trying to get out of deals or sellers drastically reducing their asking prices for fear that the market is crashing. Things have been pretty much the same as they have been all summer. Now that Labor Day is over, I expect activity to actually pick up a bit.
There have been a ridiculous number of multiple offers for available rental units. Just this Sunday, the New York Times actually wrote about how New Jersey rentals have been “flying off the shelves”. It will be interesting to see how this all plays out.
| Currently Comments Off
The May Hoboken Condo Sales Results
Categories: Hoboken Condos, Market Analysis, monthly results
The May 2011 Condo Sales:
You know what pops out at me on this chart? Something I’ve been talking about for a while now. Look at the “discount off list”. It’s down to 2.68%. Do you wonder why? Think about all the 3 bedroom units that have had multiple offers lately and sold for at or over asking. That shows up in this number. The buyers who think they are going to “get a deal” are mistaken. Properties, when priced correctly, are selling at numbers very close to the asking price. Priced correctly – OK, there is room for dispute as to what ‘priced correctly’ means but I certainly know it when I see it. That’s because I’ve seen, literally, thousands of properties and have a good basis on which to make that judgment. Which is why it’s so important for buyers to look at lots and lots of properties. It lets them develop their “value-meter’ so they can make that kind of assessment. The decrease in days on market further supports my belief that the good stuff is selling and selling fast. Or at least faster than they were.
Here is the update by bedroom size:
22 condo sales of 1 Bedrooms:
Avg. sales price =$351k
Size 709 sq ft
$ / sq ft = 495
DOM 74
45 condo sales of 2 Bedrooms:
Avg. sales price = $513k
Size 1173 sq ft
$ / sq ft = 437
DOM 68
11 condo sales of 3 Bedrooms:
Avg. sales price 684k
Size 1603
$ / sq ft = 427
DOM 74
| Currently 2 Comments »
