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 »

2016 Aug 3rd

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of August 3rd, 2016

To see this post with live links to the listings, please complete this little form:

  1. (required)
  2. (valid email required)

cforms contact form by delicious:days

As of August 3, 2016:

  • 176 active Hoboken listings
  • 145 Condo & Co-op listings, compared to 164 last week
  • 20 Single-family listings, compared to 20 last week
  • 11 Multi-family listings, compared to 12 last week

This Week’s Residential Property Sales & Activity:

  • 21 DABOs (Deposit Accepted By Owner and Under Contract) vs 10 last week
  • 39 Sold vs 29 last week
  • 23 New listings vs. 28 last week
  • 7 Price changes vs. 12 last week
  • 2 expired listings vs. 4 last week

Studio & 1-Bedroom Properties

24 Active listings

6 New listings

1 Price change


  • 419 Madison St., 1 listed July 26 for $358K;
  • 419 Madison St., 2 listed July 26 for $375K;
  • 1115 Willow Ave., 406 listed July 23 for $430K;
  • 920 Hudson St., 4E listed July 9 for $570K; reduced July 26 to $565K;
  • 1500 Washington St., 6A listed July 18 for $820K;
  • 1125 Maxwell Ln., 1221 listed July 6 for $860K; reduced July 21 to $840K;

8 Sold

  • 807 Garden St., 9 listed Oct 12 for $373K; reduced Mar 22 to $325K; reduced Jun 2 to $300K; sold for $240K;
  • 807 Garden St., 2 listed Feb 11 for $290K; sold for $262K;
  • 410 Jefferson St., 3L listed May 2 for $349K; sold for $339K;
  • 1115 Willow Ave., 203 listed May 20 for $459K; reduced May 26 to $429K; sold for $444K;
  • 72 Park Ave., 6D listed Jun 1 for $479K; sold for $489K;
  • 1500 Washington St., 12V listed Jun 10 for $599K; sold for $599K;
  • 2 Constitution Ct., 1105 listed May 10 for $615K; sold for $638K;
  • 400 9th St., W4D listed May 19 for $659K; sold for $659K;

2-Bedroom Properties

80 Active listings

13 New listings

5 Price changes


  • 419 Madison St., 3 listed July 26 for $409K;
  • 419 Madison St., 4 listed July 26 for $409K;
  • 301 Monroe St., 2R listed April 26 for $479K;
  • 1108 Park Ave., 4R listed July 18 for $550K;
  • 1110 Park Ave., 4R listed July 5 for $559K;
  • 325 Adams St., 5 listed Jun 8 for $750K; reduced July 6 to $725K;
  • 300 Newark St., 2G listed July 7 for $825K; reduced July 21 to $799K;
  • 1025 Maxwell Ln., 712 listed July 26 for $1.225M;
  • 1500 Garden St., 6D listed Feb 18 for $2.30M;
22 Sold
  • 420 Monroe St., 2L listed Jun 30 for $385K; sold for $405K;
  • 323 Jackson St., 401 listed May 17 for $499K; reduced Jun 8 to $489K; sold for $500K;
  • 1208 Washington St., 5N listed Mar 17 for $549K; reduced May 9 to $539K; sold for $549K;
  • 80 Bloomfield St., 5A listed April 8 for $549K; sold for $570K;
  • 202 Park Ave., 3 listed Jun 2 for $579K; sold for $579K;
  • 920 Jefferson St., 203 listed May 17 for $600K; sold for $610K;
  • 517 Jackson St., 303 listed May 10 for $619K; sold for $645K;
  • 507 Madison St., 1 listed April 12 for $639K; sold for $645K;
  • 133 Jackson St., 2B listed April 15 for $675K; reduced May 6 to $659K; sold for $645K;
  • 551 Observer Hghwy., 6E listed May 21 for $675K; sold for $675K;
  • 380 Newark St., 3C listed May 12 for $675K; sold for $695K;
  • 717 Madison St., 5N listed Jun 3 for $749K; sold for $745K;
  • 1115 Willow Ave., 504 listed May 17 for $749K; sold for $749K;
  • 1300 Grand St., 602 listed Jun 9 for $789K; sold for $789K;
  • 415 Newark St., 2E listed Jun 9 for $788K; sold for 805K;
  • 713 Adams St., 1 listed April 5 for $815K; sold for $830K;
  • 1331 Grand St., 607 listed May 16 $830K; sold for $835K;
  • 711 Clinton St., 7B listed April 21 for $800K; sold for $845K;
  • 163-165 Newark St., 3B listed May 3 for $899K; sold for $905K;
  • 504 Grand St., 1 listed May 24 for $998K; sold for $998K;
  • 405 Jefferson St., 1 listed April 27 for $1.0M; sold for $1.050M;
  • 67 Madison St., A listed May 11 for $1.095M; sold for $$1.138M;

3-Bedroom & Larger Properties

41 Active listings

4 New listings

1 Price change

11 Multi-Family Active listings

20 Single-Family Active listings


  • 812 Grand St., 310 listed July 7 for $935K;
  • 107 7th St., listed Jun 24 for $1.169M;
  • 702 Garden St., listed July 21 for $1.525M;
  • 328 Park Ave., listed Mar 14 for $1.550M;
  • 1125 Maxwell Ln., 1222 listed Jun 27 for $1.90M;
  • 130 Park Ave., 3B listed May 11 for $2.075M;

9 Sold

Posted by Nathan Turoff | Currently No Comments »

2016 Aug 1st

The Six Month Rolling Average of Hoboken Condo Sales Prices

That is a steep hill!

Posted by Lori Turoff | Currently 3 Comments »

Copyright © 2008 Hoboken Real Estate News     Login     Sitemap