The 2nd Quarter 2010 Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Hoboken Condos, Market Analysis
Sometimes I think a picture tells a better story than words. Here are some charts of the Hoboken condo market performance. If you would like to receive a copy of the underlying really large chart with the raw data please request it here and I will share it with you.
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3rd Quarter results for Hoboken Condo Sales
Categories: Hoboken Condos
The numbers are in. Sales are strong in that the number of days it takes a property to sell is around 60 and average condo prices have risen after several consecutive monthly declines. Average price per square foot is just about what it was this time last year – hovering at $540. Here are the charts:
Average sales price is now at about $528,000. That is actually higher than it was at this time last year. We had decreases from March to August but in September things turned around.
Price per square foot dropped. It’s right where it was at this time last year. It will be interesting to see what happens next month.
The time it takes to sell a unit went up a bit since July but is still well under last year’s level. So to restate what I’ve been stating for quite some time, the Hoboken market is still rolling along. Sure, there are naysayers out there but the numbers simply don’t support their negativity.
Good units sell and they sell fast. Overpriced units sit and languish. My last three deals were multiple offer situations. In my opinion, things are stable and that is a healthy thing.
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