The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of October 13th
Categories: For Buyers, For Sellers, Market Analysis, Weekly Wednesday Wrap Up
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.
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.
- 513 active Hoboken condo units – vs. 500 last week
- 6 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 14 dabos last week
- 15 sold vs. 11 sold
- 42 new listings vs. 35
- 32 price reductions vs 23
- 9 expired listing vs. 13
Studio & 1 Bedroom Hoboken Condos:
18 new listings
186 active
2 Dabos
- 214 Jeff listed at $229k on Apr 19; reduced to $219k on Jun 24.
- 509 Willow listed at $309k on May 11.
7 Sold
- 725 Wash (mls) listed at $215k on Jun 20; sold for $197.5k.
- 1011 Park (mls) listed at $319k on Jun 21; sold for $300k.
- 625 Willow (C21) listed at $320k on Jun 8; sold for $305k.
- 300 1st (mls) listed at $325k on Jul 22; sold for $318.5k.
- 1206 Wash (mls) listed at $369k on Jun 3; reduced to $349k on Jul 12; sold for $339k.
- 501 9th (mls) listed at $400k on Jul 6; reduced to $395k on Jul 15; sold for $380k.
- 501 9th (mls) listed at $429k on Jan 30; reduced to $419k on Mar 29; $409k on Apr 30; sold for $380k.
15 price reductions
Two Bedroom Hoboken Condos:
23 new listings
274 active listings.
201 under $600k
73 over
4 Dabos
- 805 Willow (mls) listed at $419.5k on Jun 10; reduced to $409.5k on Jul 23.
- 150 14th (mls) listed at $695k on Apr 26; reduced to $649k on May 10; $550k on Jun 15; $499k on Sep 20. (Short Sale).
- 1028 Hudson (C21) listed at $599k on Sep 20.
- 1500 Hudson (mls) listed at $875k on Oct 1.
4 sold
- 423 Adams (mls) listed at $465k on Apr 12; sold for $453k.
- 261 2nd (C21) listed at $539k on Apr 14; reduced to $599k on Jun 7; sold for $546k.
- 1025 Maxwell (mls) listed at $975k on Jan 26; reduced to $880k on Apr 20; sold for $880k.
- 415 Newark (mls) listed at $549k on Apr 13; sold for $547.5k.
10 price reductions
Three Bedroom and Larger Hoboken Condos:
1 new listing
53 active listings.
none dabod
3 sold
- 215 Monroe (mls) listed at $650k on Apr 6; reduced to $635k on May 4; $625k on May 18; $620k on Jun 2; $590k on Jun 17; sold for $560k.
- 659 1st (mls) listed at $669k on Aug 5; sold for $630k.
- 402 Madison (mls) listed at $625k; reduced to $615k on Jul 24; $610k on Aug 4; sold for $597k.
- 607 Clinton (mls) listed at $515k on Aug 27; sold for $495k.
Hoboken Condo Open Houses
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Thanks for reading and, as always, we welcome your comments!
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