2010 Oct 13th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of October 13th

Hoboken Condos Sales & Activity – Week of October 13th

Washington Street Named as One of the Nation’s Top Ten!

Pointing to it’s strong sense of history and embrace of the future, the American Planning Association named Washington Street as one of America’s Top 10 streets. Meanwhile, Sinatra Drive continues to fall into the river.

Profits are up at JPMorgan Chase, one of the first big banks to report earnings with more earnings reports expected in the near future, despite the continuing foreclosure debacle.

The Hoboken condo market continues to trudge on. The September results show few signs of life with average price per square foot at $451. The 3rd Quarter results are similar with average price per square foot at $445. What is more telling, is the low number of units sold, especially compared to past years. There was a bump up in the 2nd quarter due to the tax credit but we have fallen down again swiftly and inventory is creeping into the 500’s again. As I’ve said before, in my experience the big problem we face today is young buyers without 20% to put down who are unable to get a financing despite incredibly attractive mortgage rates. Buyers can’t buy if they can’t get a mortgage and that excess inventory just sits there getting stale.

number_of_units_sold-5

Disclaimer: The data relating to real estate transactions on this web site comes in part from the Hudson County MLS. While some of these listings are, in fact, our listings they are not ALL our listings nor do we hold them out as such. Century 21 Listings are identified with “C21” after the address. Other listings are from the MLS and are identified with “MLS” after the address. Information is deemed reliable but not guaranteed.

Studio & 1 Bedroom Hoboken Condos:

18 new listings

186 active

2 Dabos

7 Sold

15 price reductions

Two Bedroom Hoboken Condos:

23 new listings

274 active listings.

201 under $600k

73 over

4 Dabos

4 sold

10 price reductions

Three Bedroom and Larger Hoboken Condos:

1 new listing

53 active listings.

none dabod

3 sold

3 price reductions

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your best source for locating every open house in Hoboken. It is the single, most complete listing available and we were the first ones to do it. We compile the information by hand from all possible sources to provide you with all the information you need in one spot. It’s posted on Friday every week.

Want to Receive New Listings & Price Reductions Daily?

If you would like to be emailed the new listings and price reductions each weekday in either 1br, 2br or 3br categories just email us at [email protected] letting us know which size(s) you would like and we’ll add you to the daily email list.

For more information you can always contact us at 201 993 9500.

Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 7 Comments »

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