2017 Jan 4th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of January 4th, 2017

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The average price of a Hoboken condo nearly hit $800,000 by the conclusion of 2016, a record high.  Price per square foot averages over $700.  Inventory is at its lowest level ever.  If you’ve ever had any thoughts of selling, there simply could not be a better time than now.  Give us a call (201 993 9500 is my cell) and we’d be happy to share more details with you about the Hoboken and Jersey City market.

As of January 4, 2017:

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

 

This Week’s Residential Property Sales & Activity:

  • 3 DABOs (Deposit Accepted By Owner and Under Contract) vs 5 last week
  • 17 Sold vs 12 last week
  • 7 New listings vs. 0 last week
  • 1 Price change vs. 2 last week
  • 6 expired listings vs. 0 last week

 

Studio & 1-Bedroom Properties

25 Active listings

5 New listings

No Price changes

1 DABO

  • 1450 Washington St., 613 listed Dec 8 for $670K;

4 Sold

  • 72 Garden St., 4R listed Nov 11 for $349K; sold for $355K;
  • 208 Willow Ave., 204 listed Oct 13 for $385K; sold for $415K;
  • 73 Garden St., 2L listed Oct 11 for $475K; sold for $475K;
  • 1500 Hudson St., 12A listed Sept 19 for $575K; reduced Oct 31 to $550K; sold for $550K;

 

2-Bedroom Properties

23 Active listings

1 New listing

No Price changes

1 DABO

  • 517 Jackson St., 302 listed Oct 5 for $645K;
8 Sold
  • 1216 Washington St., 2N listed Sept 6 for $515K; sold for $495K;
  • 1007 Willow Ave,. 10 listed Sept 18 for $525K; sold for $555K;
  • 825 Washington St., 5A listed Oct 24 for $580K; sold for $583K;
  • 402 Adams St., 3 listed Sept 27 for $599K; sold for $599K;
  • 537 Garden St., 2 listed Nov 15 for $569K; sold for $600K;
  • 456 9th St., 15 listed Oct 14 for $630K; sold for $669K;
  • 233 Monroe St., 3N listed Oct 26 for $730K; sold for $775K;
  • 113 Madison St., 2E listed Nov 9 for $765K; sold for $805K;

 

3-Bedroom & Larger Properties

23 Active listings

1 New listing

1 Price change

10 Multi-Family Active listings

13 Single-Family Active listings

1 DABO

  • 600 Newark St., 400 listed Oct 14 for $1.749M;

5 Sold

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Posted by Nathan Turoff | Currently No Comments »

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!

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 »

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