The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of February 16th
Categories: Hoboken Condos, Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of February 16th.
Hello 500+ Hoboken condos for sale. No big surprise. What did surprise me is how many of the sold units (and dabo’s) were sold without price reductions – except, of course, the Garden St. Lofts. Look at some of the other 2 and 3 bedrooms that sold. They were fairly expensive units and they all went pretty quickly and not much below the list price. Maybe it’s a flight to quality? Well, Mardi Gras has come and gone and now is supposed to be the season to repent and renew. Maybe the housing market will also start to revive during this period and we will see a happy Spring.
Here are this weeks numbers vs. a weeks ago numbers:
- 514 active Hoboken condo units today – vs. 495 last week.
- 25 price reductions, vs. 30
- 9 dabo (under contract) vs. 11
- 17 sold vs. 16
- 34 new listings vs. 41
- 1 expired listing vs. 4
Studio & 1 Bedroom Hoboken Condos:
14 new listings.
209 total active – $376,238 average asking price. Average 79 DOM.
2 dabos. Average 20 DOM
- 84 Adams listed at $449k on Jan 4; reduced to $439k on Feb 2.
5 sold for an average sales price of $394,000. Average 164 DOM
- 114 Willow listed at $399k on Aug 18; reduced to $385k on Oct 5; sold for $360k
- 1425 Garden (Garden St. Lofts) listed at $774k on Mar 12 ‘ 08; reduced to $695k on Jul 2 ’08; $625k on Apr 24 ’09; sold for $570k. Over a 25% price reduction to get this puppy sold!
12 price reductions.
Two Bedroom Hoboken Condos:
19 new listings
250 total listings. Average list price $568,134. Average 98 DOM.
6 dabo’d. Average 169 DOM.
- 123 Jackson listed at $679k on Apr 22; reduced to $565k on Nov 19.
7 sold. Average price $545,557. Average 124 DOM.
- 700 1st Street listed for $519.9k; sold for $525k (short sale – must have had multiple offers)
- 803 Willow listed at $565k on Sep 16; reduced to $540.9k on Oct 27; $535k on Nov 16; sold for $500k.
- 1425 Garden listed for $1.655m on Mar 12 ’08; reduced to 1.549m on Nov 25 ’08; $1.495m on Mar 19 ’09; $1.334m on Apr 24; 1.299m on Jun 5; sold for 1.225m. Wow – it took a 25% reduction in sales price and almost two years to sell this Garden Street Loft! Even though it is the ‘penthouse’ it still faces the multi-level Toll Bros. parking lot.
11 price reductions.
Three Bedroom and Larger Hoboken Condos:
1 new listings
53 active listings. Average price $957,945. Average 132 DOM.
1 dabo’d. Average 122 DOM.
4 sold. Average price $600,529. Average 120 DOM.
2 price reductions.
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