End of 2nd Quarter – Hoboken Condo Sales Results & Market Analysis
Categories: For Buyers, For Sellers, Hoboken Condos, 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!
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