2009 Jul 13th

End of 2nd Quarter – Hoboken Condo Sales Results & Market Analysis

Mini-Chart of Quarterly Hoboken Condo Sales 

Here is an abbreviated version of the 10 year quarterly spreadsheet we have compiled on Hoboken condo sales data.  The results are interesting because I would never have expected a bump in Q1 of this year – given that the Lehman crisis and related mess all occurred in Q4 ‘ 08.  Properties that went under contract in the midst of all that would typically close 30 to 90 days later – at the start of ’09.  I checked the actual list of properties thinking that perhaps there were a disproportionate number of Maxwell Place or Garden Street Loft units sold.  There were 3 and 6 respectively, compared to 4 and 1 this quarter so that may account for it somewhat (confirmed by the higher average list price, too).  

I tend to think that median and average price per square foot are a better indicator of the current state of the market.  Both those numbers are down compared to the recent past.  For a predictor of future activity, I like to look at number of transactions and days on market.  Compared to Q1 ’09,   more Hoboken condo properties sold in less time in Q2 ’09.  That give me a  little hope for better news down the line.  Here’s the chart:

If you’d like to see what’s happened in the Hoboken real estate market by quarter since 2000, we are happy to add you to view a google doc which is way to large a spreadsheet to post here.  Just send us a request below (or email us at [email protected]) and add you to the googledoc as a viewer.  Once you view the googledoc, I believe you can download it and play around with the numbers yourself.  (If anyone is a googledoc expert, please correct me if I’m wrong.  I’m still learning!)

Thanks for reading.  We always welcome your comments and discussion.  Have a great day!

Posted by Lori Turoff | Currently 54 Comments »

2008 Jul 26th

Hoboken Condo Sales – How Many Condos Have Actually Sold?

Why the Volatility in Number of Hoboken Condos Sold?

The Hoboken real estate market is full of surprises. It’s especially interesting to me to see the average price of Hoboken condos sold follow such a visible upward trend while the actual number of units sold seems to fluctuate quite a bit. I wonder if the number of new construction units sold off of the MLS were added to these figures the line might be less volatile. Unfortunately, I don’t have a simple way to include those Hoboken sales.

Here is the chart:

Here are the underlying numbers:

See also:  Days on Market

Posted by Lori Turoff | Currently Comments Off on Hoboken Condo Sales – How Many Condos Have Actually Sold?

2008 Jul 25th

How Quickly Will My Hoboken Condo Sell?

Sellers Want To Know – How Many Days Will It Take to Sell a Condo in Hoboken?

This is another very common question. The answer, of course, is “it depends”. It depends mostly on the asking price but also on things like location, condition, accessibility and the supply and demand of the market. Here is a chart that shows the average number of days it took to sell a Hoboken condo by quarter, from 2000 to present.

Here are the associated numbers (use scroll bar to see them all):

Yesterday I posted the average sales price of Hoboken condos.  Tomorrow will be average list price and the amount of discount of the list price for which units sold.

Posted by Lori Turoff | Currently Comments Off on How Quickly Will My Hoboken Condo Sell?

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