2016 Aug 10th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of August 10th, 2016

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As of August 10, 2016:

  • 168 active Hoboken listings
  • 138 Condo & Co-op listings, compared to 145 last week
  • 19 Single-family listings, compared to 20 last week
  • 11 Multi-family listings, compared to 11 last week

This Week’s Residential Property Sales & Activity:

  • 10 DABOs (Deposit Accepted By Owner and Under Contract) vs 21 last week
  • 32 Sold vs 39 last week
  • 19 New listings vs. 23 last week
  • 8 Price changes vs. 7 last week
  • 1 expired listing vs. 2 last week

Studio & 1-Bedroom Properties

24 Active listings

6 New listings

3 Price changes


  • 1425 Garden St. #503,  listed Feb 19 for $795K; reduced Mar 16 to $775K; reduced April 28 to $769K; reduced Jun 9 to $759K;

11 Sold

  • 807 Garden #2, listed $290k, sold $262
  • 309 Monroe #6, listed June 1 for $325k, sold $320k
  • 463 1st St. #3A, listed $329k, sold $330k
  • 405 4th St. #4a, listed March 16 for $429.5k, sold $417k
  • 224 Monroe #2FS, listed $415k, sold$426k
  • 221 Clinton St. #2s, listed May 12 for $425k, sold $436k
  • 1206 Washington St. #4, listed June 6 for $439k, sold for $450k
  • 72 Park #6D, listed June 1 for $479k, sold for $480k
  • 300 Newark #3A, listed for $495k, sold for $510k
  • 501 9th St. #405, listed April 28 for $590k, sold for $595k
  • 1500 Washington #11H listed for $600k, sold for $600k

2-Bedroom Properties

76 Active listings

9 New listings

3 Price changes


  • 134 Garden St., 1 listed Jul 28 for $549K;
  • 1110 Park AVe., 4R listed Jul 5 for $559K;
  • 200 Bloomfield St., C listed April 19 for $665K; reduced Jun 6 to $599K;
  • 2-6 Paterson Ave., 4C listed Jun 17 for $689K; reduced July 28 to $669K;
  • 407 Monroe St., 3A listed Jun 22 for $789K;
13 Sold
  • 77 Monroe #2, listed April 7 for $399k, sold for $415k
  • 1302 Park Ave. #3N, listed for $549k, sold for $537k
  • 80 Bloomfield St. #5A, listed April 8 for $549k, sold for $570k
  • 1226 Park #3, listed May 20 for $600k, sold for $609k
  • 560 1st St. #2, listed March 13 for $625k, sold for $610k
  • 502 Jefferson St. #4, listed April 11 for $659k, sold for $659k
  • 610 Newark #11B, listed May 24 for $689k, sold for $687k
  • 800 Jackson #502, listed May 20 for $710k, sold for $720k
  • 703 Park #2, listed May 10 for $689k, sold for $724k
  • 1300 Grand #602, listed for $789k, sold for $789k
  • 163 Newark #3B, listed for $899k, sold for $905k
  • 405 Jefferson St. #1, listed April 27 for $999k, sold for $1.05m
  • 1450 Washington #203, listed June 8 for $1.2m, sold for $1.18m

3-Bedroom & Larger Properties

38 Active listings

4 New listings

2 Price changes

11 Multi-Family Active listings

19 Single-Family Active listings


  • 105 Willow Terr., listed Jul 19 for $899K;
  • 328 Park Ave., listed Mar 14 for $1.550M;
  • 1308 Bloomfield St., listed Aug 3 for $1.695M;
  • 213 Adams St., 2 listed Jul 14 for $2.20M;

3 Sold


Posted by Nathan Turoff | Currently 2 Comments »

2016 Aug 6th

The Hoboken & Downtown JC Open House Google Map for Saturday, August 6th & Sunday, August 7th, 2016

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:


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 »

2016 Aug 4th

The July Hoboken Condo Sales Results

Here are the July results. Prices are up over 12% from a year ago. Sales prices spiked again in July, almost reaching an average sales price of $800k. The average list price is now over $800k. The median sales price has hit $700k. The time it takes for a property to go under contract remains quite low. My experience has continually been that if my buyer doesn’t see the property the week it is listed, hopefully before the first open house, there will already be an offer on it. The number of new listings dropped significantly in July, which is to be expected as people take summer vacations, which may put pressure on the Fall market. Inventory remains very low. It would take less than 2 months to sell every property on the market if there were no new listings and sales continued at their current pace.

Looking at the breakdown by bedroom size, the median sales price paints a very interesting picture. The new normal? If you want a nice 1-BR, plan to spend half a million. A 2-BR will set you back well over $700k and that elusive property large enough for a few children? Well, we are up in the million and a half range. Which is the price for a starter brownstone, which will need another few hundred thousand in renovations to bring it up to today’s standards.

I’m often asked if I believe this growth in prices is sustainable or a bubble. Have you seen The Big Short? I just saw it last week. Very enlightening, though I had read the book previously. Aside from explaining in very understandable terms the underlying causes of the ’08 crash, the story makes it so apparent to me that this is an entirely different environment. By that I mean that unlike in ’05, ’06 and ’07, the buyers I work with today (and I work with many buyers) are extremely well qualified financially, have at least 20% cash as a down payment, very often much more, and are buying properties not for speculation but as a primary residence. While the movie points out that the derivative securitization may be making a comeback in the mortgage market, the fundamentals of the buyer profile is, imho, extremely different now. Eventually, the buyers looking for the bigger properties will be forced out of the market based on the rising prices (keep in mind that less than 10% of the condo inventory in Hoboken is bigger than a 2-BR) and make the move to Montclair, Westfield and Summit, where you get much more for your money and a heck of a commute as a trade off.

Thanks for reading, we welcome your comments, we are always available to discuss or help you with your real estate needs. Just give us a call at 201 993 9500 or email us at[email protected].

Here are the numbers:

Posted by Lori Turoff | Currently 3 Comments »

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