2010 Dec 1st

The Weekly Wednesday Wrap Up – Hoboken Condos Sales & Activity for the Week of December 1st

Hoboken Condos Sales & Activity – Week of December 1st

A New Low!

During the height of the real estate market units would fly off the shelves as fast as they were listed. Inventory was low and prices were soaring. Sigh… those were the good old days. While the current inventory of condos available for sale is down to yearly low of 406, it may be a bit premature to rejoice and declare an end to the market slump. Sellers know that the weeks between Thanksgiving and New Years are the real estate “Dead Zone”. Buyers and sellers alike are busy with holiday shopping, parties and family obligations, real estate offices are closed for holiday weekends, and Realtors take the opportunity for vacations and a little R&R. January on the other hand is traditionally a pretty strong month for new listings, so expect a bit of a spike in the new year.

There’s another reason for the low inventory number and that is expirations and withdrawals. I believe that the number of listings that are expiring unsold and/or being withdrawn are way up, as are the number of people choosing to rent their units for a year or two and then try selling again when the market has recovered. I can’t do it today, but look for an analysis of this trend in a future HREN blog post.  Later this week I’ll post the November results, too.

Here are this weeks numbers:

 

  

 

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.

 

Studio & 1 Bedroom Hoboken Condos:

5 new listings

1 Dabos

2 Sold

5 price reductions

161 Total Active 1BRs

Two Bedroom Hoboken Condos:

4 new listings

2 Dabos

1 sold

2 price reductions

205 Total Active 2BRs

Three Bedroom and Larger Hoboken Condos:

4 new listing

0 Dabos

0 Sold

3 price reductions

40 Total Active 3BRs

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your best source for locating every open house in Hoboken. It is the single, most complete listing available and we were the first ones to do it. We compile the information by hand from all possible sources to provide you with all the information you need in one spot. It’s posted on Friday every week.

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.

For more information you can always contact us at 201 993 9500.

Thanks for reading and, as always, we welcome your comments!

Posted by Lori Turoff | Currently 15 Comments »

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