2010 Jan 26th

The Weeky Wednesday Wrap Up – Hoboken Condo Sales and Activity for The Week of January 26th

There is no question now that inventory is creeping up again. More new listings and not as many sales. This has got to put downward pressure on pricing. A previously much discussed unit closed this week at 508 Garden so for those who were curious, this short sale went for $500k. Another unit of interest to me was 65 10th Street. We actually met with the sellers about listing it and I have a very clear memory of our discussion about pricing. The owner said something along the lines of the first number having to be a “6” and I thought to myself, “I don’t want this listing”. It sold for $545,000 after almost 6 months on the market. Guess he had his 6’s mixed up.

Finally, of course we are disappointed about the Jets but that is overcome by our joy that the New Orleansnola saints Saints will be going to the Superbowl! The National Association of Realtors held their annual convention in NOLA just after Katrina and we attended and took the requisite tour of the 9th ward. It was the first convention after Katrina to be held in the convention center that housed so many stranded people during the hurricane. Having been another site of real devastation, seeing the stadium a scene of such joy and celebration was truly heart warming. “Who dat? Who dat? Who dat say dey gonna beat dem Saints? Who dat? Who dat?”

Hoboken Condos Sales & Activity – Week of January 26th.

Here are this weeks numbers vs. a week’s ago numbers:

Studio & 1 Bedroom Hoboken Condos:

21 new listings.

183 total active – $371,014 average asking price. Average 83 DOM.

2 dabos. 22 Average DOM.

2 sold for an average price of $328,500. Average 92 DOM

13 price reductions.

Two Bedroom Hoboken Condos:

26 new listings

238 total listings. Average list price $577,385. Average 105 DOM.

6 dabo’d. Average 111 DOM.

6 sold – $557,500 average sales price. Average 183 DOM.

8 price reductions.

Three Bedroom and Larger Hoboken Condos:

8 new listing

54 active listings. Average price $963,690. Average 133 DOM.

1 dabo’d. 101 average DOM.

1 sold. 144 DOM.

1 price reduction.

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your single best source for locating every open house in Hoboken. It’s posted on Friday every week. The info is updated weekly. If your google search seems to pull up an older version, click on the title link to get the most current map. Like this report, to receive the map with the actual links, you will have to request it.

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. A word about that – if you have an ongoing relationship with another agent we are not going to email you. That means someone you’ve been working with on a regular basis and whose services you are happy with and to whom you feel loyalty. We respect that relationship. If that is the case, ask your own agent for listings. If, however, you’ve gone to an open house or you’ve seen several properties with several different agents, that’s not an ongoing relationship. Showing someone a single property, or even a few, does not necessarily a relationship make. You are the consumer – you get to decide with whom you wish to work. So we will ask you before we email you.
You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 14 Comments »

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