2014 Sep 9th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of September 10th, 2014

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As of September 10th, 2014:

  • 187 active Hoboken listings
  • 165 Condo & Co-op listings, compared to 143 last week
  • 9 Single-family listings, compared to 6 last week
  • 13 Multi-family listings, compared to 7 last week

This Week’s Residential Property Sales & Activity:

  • 12 DABOs (Deposit Accepted By Owner and Under Contract) vs. 10 last week
  • 29 Sold vs 36 last week
  • 48 New listings vs. 21 last week
  • 12 Price changes vs. 3 last week
  • 0 expired listings vs. 2 last week


Studio & 1-Bedroom Properties

68 Active listings

14 New listings

3 Price changes


  • 85 Jefferson St., 10 listed Aug 27 for $299K;
  • 718 Grand St., 3 listed Jun 20 for $319K;
  • 813 Willow Ave., 4N listed Aug 19 for $335K;
  • 400 9th St., W3L listed Aug 13 for $500K;
  • 1025 Maxwell Ln., 700 listed June 27 for $1.0M;

9 Sold

  • 410 Adams St., 3R listed June 26 for $264K; sold for $264K;
  • 421 Adams St., 3L listed April 23 for $339K; reduced May 23 to $329K; reduced July 3 to $324K;  sold for $324K;
  • 212 Madison St., 1A listed Aug 4 for $340K;  sold for $330K;
  • 157 7th St., 2 listed July 8 for $385K;  sold for $380K;
  • 322 Garden St., 1 listed June 24 for $365K;  sold for $380K;
  • 419 Adams St., 2B listed June 20 for $475K;  sold for $475K;
  • 830 Monroe St., 4G listed July 31 for $475K;  sold for $481K;
  • 812 Grand St., 508 listed April 30 for $500K;  sold for $490K;
  • 1450 Washington St., 902 listed May 14 for $730K; reduced Jun 2 to $700K;  sold for $680K;


2-Bedroom Properties

76 Active listings

20 New listings

4 Price changes


  • 550 2nd St., 2 listed Aug 6 for $429K; reduced Aug 13 to $419K;
  • 602 Willow Ave., 4 lited Aug 27 for $575K;
  • 221 Willow Ave., 3R listed Aug 1 for $589K;
  • 415 Newark St., 11C listed Aug 14 for $599K;
  • 101 Park Ave., 2C listed Aug 28 for $800K;
  • 1404 Grand St., 2A listed Jun 25 for $865K; reduced Aug 22 to $850K;
  • 1500 Washington St., 9F listed Jun 20 for $875K; reduced July 15 to $865K;
14 Sold
  • 410 Adams St., 2R listed Jun 19 for $289K; sold for $305K;
  • 803 Willow Ave., 5S listed May 14 for $437K; reduced June 3 to $414K; sold for $408K;
  • 501 Adams St., 2E listed April 2 for $545K; sold for $560K;
  • 621 Monroe St., 6B listed May 22 for $569K; sold for $575K;
  • 722 Adams St., 8 listed May 13 for $550K; sold for $575K;
  • 400 9th St., W4B listed Jun 25 for $589K; sold for $600K;
  • 1300 Grand St., 307 listed Jun 10 for $635K; sold for $640K;
  • 313 Monroe St., 1 listed May 14 for $680K; sold for $670K;
  • 92 Madison St., 3B listed Jun 18 for $650K; sold for $681K;
  • 452-454 2nd St., 2 listed Jun 25 for $749K; sold for $750K;
  • 83 Monroe St., 4B listed Jun 2 for $699K; sold for $810K;
  • 612-614 Adams St., 2 listed May 14 for $875K; sold for $875K;
  • 1025 Maxwell Ln., 912 lsited Jun 12 for $1.050M; sold for $1.090M;
  • 225 River St., 2301 listed April 18 for $2.0M; sold for $1.915M;


3-Bedroom & Larger Properties

21 Active listings

14 New listings

5 Price changes

13 Multi-Family Active listings

9 Single-Family Active listings


6 sold


Posted by Nathan Turoff | Currently No Comments »

2014 Sep 7th

The August Hoboken Condo Sales Results

I was in Toronto and Montreal for a vacation over Labor Day.  There is so much construction going on in both cities, it is mind boggling.  Distillery District
The Toronto City Council approved 7,000 more residential condo units to the 70,000 already in the pipeline last week.  Toronto is said to have the highest rate of development of anywhere in the world.  It certainly felt like we were walking through a never-ending construction zone but at least the buildings they are building are architecturally stunning.  Two bedroom units in new high-rise buildings in the downtown core start at about $590k on a very low floor.  Prices rise into the millions rapidly and the views from the upper floors are incredible.  If only the new high-rises planned for Hoboken were to look like these.

Hoboken condo sales slowed down a bit in August, as is to be expected in the height of the summer season.  Nonetheless, properties continue to sell over asking, on average.  46 out of 91 properties sold at or over asking.  Only three of those were subject to a price reduction from the original list price.  Look at the breakdown:  Nine units were 1-brs; thirty two were 2-brs; and five were 3-brs or bigger.  On average buyers paid 2% over asking but some paid as high as 6%.


Look at the bedroom size break down.  We are back to the days when 1-brs sell for over 400k, 2-brs for over 600k and 3-brs for over 800k.  Price per square foot is over $600 again.  Days on market continues to drop.  The new “normal” is for the good properties to have offers on the first weekend and “final and best” to follow.


Prices may be down a bit compared to a year ago but inventory is also way down.  Number active on the first of the month is down by 34% and new listings down by 17%.  Under these circumstances, prices have strong support.

Here are the August numbers:

Look at the 2 bedroom average sales price – it has reached over $700,000 for the first time ever.  The number of active units on the market is way down from a year ago – a 42% decline.  Similarly, the absorption rate, or how long it would take to sell current inventory at today’s pace of sales, is also down.  That right there is the story.  High demand, low supply, rising prices.

Posted by Lori Turoff | Currently 2 Comments »

2014 Sep 5th

The Hoboken & Downtown JC Open House Google Map for Saturday, September 6th & Sunday, September 7th, 2014

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 2 Comments »

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