2010 Jan 1st

Who’s Keeping Score of the Hoboken Condo Market?

It’s All About the Inventoryscore

Good news on the horizon.  Hoboken condo inventory is shrinking.

Over the course of the entire year, there have been about 50 units a month sold so 416 condos represents an 8 month supply.  But there was a real difference in the number of sales the first half of the year when the greatest impact of the financial crisis was felt versus the second half.  If sales continue at the 70 sales per month pace of the second half, it’s only a 6 month supply which is considered pretty close to normal.

(577 was the high for the past 2 years that I’ve been keeping track)

December was the first month in 2009 in which more units were sold than were listed.

How does it all stack up over time, you may wonder?  It looks like this:

Year           # Listed       # Sold         % Sold

So how does all this affect me if I’m a buyer or seller?  Well, sellers today have a significantly lower chance of actually selling their condo than they did two years ago.  Here is how the numbers play out when it comes to price:

Average Annual Sales Price

Being the end of the month, the end of the quarter, the end of the year and the end of the decade we’ve got lots more charts and analysis yet to come.  Enjoy!

Posted by Lori Turoff | Currently 5 Comments »

2009 Dec 22nd

The Weekly Wednesday Wrap Up – Hoboken Condo Sales and Activity for the Week of December 22nd.

Hoboken Condos Inventory & Sales – Week of December 22nd.snowy path

It’s official – the holiday season is upon us. Time to forget about real estate for a few days and have some fun with friends and family. Despite what negative things anyone may say about Hoboken and the real estate market we are still better off in so many ways than what, 90% of the planet? So spend the week focusing on the positive and have some holiday cheer. Turoff Team is taking the rest of the week off.

Happy Holidays!

Here are this week and last week’s numbers:

I know what I want from Santa – a real estate industry with technologically progressive, open, honest and transparent rules and ways of doing business that put the interest of the consumer first; ethical, educated, professional realtors.  OK – more lots sales and fewer short sales would be nice, too.  In the meantime, please fill out this form for the report with the links:

Studio & 1 Bedroom Hoboken Condos:

7 new listings.

159 total active – $368,746 average asking price. Average 93 DOM.

3 dabos. 93 Average DOM.

8 sold for an average price of $385,500 Average 66 DOM .

2 price reductions.

Two Bedroom Hoboken Condos:

5 new listings

238 total listings. Average list price $582,305. Average 107 DOM.

3 dabo’d. Average 138 DOM.

13 sold – $522,584 average sales price. Average 73 DOM.

5 price reductions.

Three Bedroom and Larger Hoboken Condos:

2 new listings

53 active listing. Average price $925,003. Average 130 DOM.

No dabos.

2 sold. Average price $1,045,000. Average DOM 304.

2 price reductions.

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 7 Comments »

2009 Dec 16th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of December 15th

Hoboken Condos Inventory & Sales – Week of December 15th.

To get this report with the MLS links just fill out this tiny, little form please:

Here are this week and last week’s numbers:

Studio & 1 Bedroom Hoboken Condos:

8 new listings.

162 total active – $372,909 average asking price. Average 91 DOM.

1 dabo. 44 DOM.

7 sold for an average price of $395,214 Average 126 DOM .

11 price reductions.

Two Bedroom Hoboken Condos:

6 new listings

224 total listings. Average list price $581,945. Average 106 DOM.

7 dabo’d. Average 105 DOM.

6 sold – $542,433 average sales price. Average 58 DOM.

11 price reductions.

Three Bedroom and Larger Hoboken Condos:

2 new listings

54 active listing. Average price $954,742. Average 136 DOM.

2 dabod. Average 83 DOM.

1 sold. Price $890, 000. DOM 30.

4 price reductions.

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 17 Comments »

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