2009 Nov 18th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of November 18th

Hoboken Condos Inventory & Sales – Week of November 18th

Here are this week and last week’s numbers:

Please complete this form for the report with MLS links:

Studio & 1 Bedroom Hoboken Condos:

3 new listings.

175 total active – $38o,932 average asking price. 79 average DOM.

3 dabos. 108 average DOM.

4 sold for an average price of $359,375 Average 87 DOM.

4 price reductions.

Two Bedroom Hoboken Condos:

5 new listings

267 total listings. Average list price $595,702. Average DOM 89.

2 dabo’d. 22 average DOM.

4 sold – $540,000 average sales price. Average 76 DOM.

18 price reductions.

Three Bedroom and Larger Hoboken Condos:

1 new 3 BR listings

61 active listing. Average price $977,158. Average DOM 111.

None dabo’d.

None sold.

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.
You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 31 Comments »

2009 Nov 11th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales and Activity for the Week of November 11th

Hoboken Condos Inventory & Sales – Week of November 11th

This week’s activity is similar to last week.  Inventory is thankfully headed downward again although we have a long way to go.  My question for the week is what’s up with Hudson Tea? There was a short sale of a studio that was originally listed at 534,900.  It sold for only $345,000.  There are plenty of comps in the building.  Why would the bank take so little? The market value should easily be higher than 345k.  The most recent comps sold for between $525 and $680 per square foot depending on view/exposure.  The 1500 Washington building with water & NYC views command the highest prices.  The interior units that face the other building the lowest.  This one sold for $457 and had a view somewhere between the best and worst – it faces due South and looks out over all of Hoboken.  Some people I’ve discussed this with surmised that the bank took what was owed on the mortgage.  But if only $345,000 was owed, and the true market value for the unit should have been closer to $450,000 then by definition, how is that a short sale? The mortgage was not less than the market value of the home.  I’m curious to know if any of you can explain this one.  Similarly, why would Toll list a studio for over $480k and sell it for $385K?  These comps are going to cause appraisal problems for future buyers.

Here are this week and last week’s numbers:

To receive this report with the MLS listing links, please complete this little form:

Studio & 1 Bedroom Hoboken Condos:

10 new listings.

175 total active – $381,327 average asking price. 74 average DOM.

4 dabos. 61 average DOM.

6 sold for an average price of $337,333 Average 84 DOM.

10 price reductions.

Two Bedroom Hoboken Condos:

10 new listings

270 total listings. Average list price $595,035. Average DOM 84.

7 dabo’d. 93 average DOM.

4 sold – $518,875 average sales price. Average 36 DOM.

11 price reductions.

Three Bedroom and Larger Hoboken Condos:

2 new 3 BR listings

61 active listing. Average price $974,787. Average DOM 107.

1 dabo’d. 60 average DOM.

1 sold. $665,000 average sales price. Average 1 DOM.

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.
You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 41 Comments »

2009 Nov 4th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week Of November 4th

Hoboken Condos Inventory & Sales – Week of November 4th

We’re seeing more of the same with regard to Hoboken condo sales. We have been in a pretty steady holding pattern. The good stuff is selling quickly when it’s priced right from the get go. Lots more is just sitting in inventory. Pricing correctly is really key to a successful sale these days. Needless to say, your property must show well. There are a few short sales among the “solds” today. While the prices are very low, the process is a long, drawn out battle with the buyer having little to no control over it. Short sales are not for everyone. You must have a high threshold for frustration, an attorney with experience with short sales and a good agent. If time is not of the essence, it may be worth it in the end.

Tomorrow I will post the monthly Hoboken Condo Sales stats for October. If you’re interested in seeing the 10 year Quarterly Hoboken Condo Sales Results you can check out this Google Doc spread sheet. If you click on the titles on the bottom you can see it all in chart format, too. To me, the most encouraging is the last chart showing 3 consecutive quarters of increase in number of units sold. We need to soak up some of the inventory to get back to a healthy market!

To get this report with MLS links please complete this little form:

Here are this week and last week’s numbers:

Studio & 1 Bedroom Hoboken Condos:

10 new listings.

176 total active – $386,775average asking price. 73 average DOM.

4 dabos. 44 average DOM.

10 sold for an average price of $346,197 Average 193 DOM.

13 price reductions.

Two Bedroom Hoboken Condos:

16 new listings

281 total listings. Average list price $539,551. Average DOM 82.

10 dabo’d. 122 average DOM.

10 sold – $491,050 average sales price. Average 145 DOM.

27 price reductions.

Three Bedroom and Larger Hoboken Condos:

4 new 3 BR listings

66 active listing. Average price $950,939. Average DOM 101.

1 dabo’d. 105 average DOM.

3 sold. $742,333 average sales price. Average 104 DOM.

NO 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.

You can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 20 Comments »

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