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 7th

Hoboken Condo Sales – First Half ’08

Hoboken Condo Market Shows Stability

Here is a peek at the Hoboken condo market sales numbers for the first half of 2008. Average sales prices have remained in the mid $500,000 range. Days on market in 2008 have been lower than last year. The number of units sold is not far off from last year and has been better than some months in ’06. Overall, the Hoboken condo market is holding steady. (Note – use scroll bars to see full chart).

Posted by Lori Turoff | Currently 2 Comments »

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