2017 Jan 3rd

There is Simply No Condo Inventory in Hoboken or Jersey City

We start the year with a paltry 65 condo units listed for sale on the MLS.  That is not a typo – 65.  Merely 94 in Downtown Jersey City.  In 14 years of selling real estate in Hoboken, I’ve never seen anything like this.  Even during the holidays.  Even in the winter.  Despite what may happen with interest rates rising, if supply stays that extremely low, prices are sure to remain strong.  There are also likely to be some hurting real estate agents.  With 1,345 of them in Hoboken alone and another 797 in Jersey City, most will simply have no business.  That may not be such a bad thing.  They say 10% of the agents do 90% of the business.  In our neck of the woods, it’s more like 5% do 95% and narrowing.  We will be posting a full, year-end sales analysis of the Hoboken condo market over the next few weeks so stay tuned, and stay warm!

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Posted by Lori Turoff | Currently 1 Comment »

2016 Dec 31st

Happy 2017, Hoboken!

May your New Year be filled with Health, Happiness, Prosperity and Peace!

hny

Posted by Lori Turoff | Currently No Comments »

2016 Dec 28th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of December 28th, 2016

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As of December 28 2016:

  • 113 active Hoboken listings
  • 90 Condo & Co-op listings, compared to 90 last week
  • 14 Single-family listings, compared to 13 last week
  • 10 Multi-family listings, compared to 10 last week

This Week’s Residential Property Sales & Activity:

  • 5 DABOs (Deposit Accepted By Owner and Under Contract) vs 7 last week
  • 12 Sold vs 15 last week
  • 0 New listings vs. 3 last week
  • 2 Price changes vs. 8 last week
  • 0 expired listing vs. 1 last week

Studio & 1-Bedroom Properties

26 Active listings

No new listings

2 Price changes

1 DABO

  • 1500 Hudson St., 6N listed Dec 1 for $598K;

3 Sold

  • 228 Monroe St., 2FN listed Sept 16 for $449K; sold for $475K;
  • 223 Bloomfield St., 2B listed Aug 27 for $539K; reduced Sept 23 to $529K; reduced Oct 29 to $499K; sold for $499K;
  • 1500 Hudson St., 9l listed Aug 19 for $600K; sold for $600K;

2-Bedroom Properties

27 Active listings

No New listings

0 Price changes

4 DABOs

  • 73 Garden St., 4L listed Oct 11 for $549K; reduced Oct 31 to $514K;
  • 323 Jackson St., 202 listed Nov 30 for $529K;
  • 521 Adams St., 1 listed Nov 10 for $779K; reduced Dec 8 to $759K;
  • 1100 Maxwell Ln., 1103 listed Nov 2 for $1.349M; reduced Dec 12 to $1.30M;
8 Sold
  • 635 6th St., 3B listed Oct 20 for $675K; sold for $670K;
  • 1032 Willow Ave., 1R listed Sept 29 for $689K; sold for $675K;
  • 261 1st St., 2A listed Sept 28 for $685K; sold for $685K;
  • 501 9th St., 414 listed Sept 20 for $735K; sold for $723K;
  • 1300 Grand St., 504 listed Sept 8 for $790K; reduced Oct 3 to $775K; sold for $775K;
  • 904 Jefferson St., 5I listed Nov 3 for $795K; sold for $790K;
  • 650 2nd St. 3F listed Oct 4 for $839K; reduced Oct 24 to $799K; sold for $810K;
  • 1500 Washington St., 2X listed Oct 17 for $919K; sold for $890K;

3-Bedroom & Larger Properties

27 Active listings

No New listings

0 Price changes

10 Multi-Family Active listings

14 Single-Family Active listings

1 DABO

  • 107 Willow Terr., listed Dec 8 for $1.075M;

1 Sold

Posted by Nathan Turoff | Currently No Comments »

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