2009 Jun 10th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Inventory for the Week of June 10th

The 600 Mark Can’t Be Far Off and Hoboken Still Has No Mayor

As inventory continues to increase at a slow but steady pace, I predict we will see 600 active Hoboken Condo units in the next few days.  Price reductions continue apace.  Sales continue to happen very slowly.  It is interesting that about half the properties that are sold or go under contract at their original list price while the other half require a string of significant price reductions first. 

From what I can tell, it seems like the election was so close (and the turnout very low) that unless one of the candidates concedes it will go to court for a final decision. 

Hoboken Condos Activity Holds Steady

  • 590 active Hoboken condo units today – 578  last week.
  •  55 price reductions vs. 41 a week ago
  • 8 dabos (under contract) vs. 8 last week
  • 9 sold vs. 19 last week.
  • 43 new listings vs. 43 last week
  • 6 expired listings vs. 13 last week
  • None vs. 11 last week

 

Studio & 1 Bedroom Hoboken Condos:

12 new listings.  Average list price $418,620.

205  total active – $415,153 average asking price. 95 average DOM.  Average asking price = $572 / sq ft. 

3  dabos after 133 DOM.

  • 812 Grand first listed at $452K on Oct 7;  reduced to $445K on March 20.

2 sold  Sold for an average of $376,000 in an average of 47 days.  Average sales price = $456 / sq ft.

  • 369 1st St. originally listed at $420K on Jan 5;  reduced to $399K on Feb 8;  sold for $370K.

13 price reductions.

Two Bedroom Hoboken Condos:

21 new listings – average list price $573,871.

316 total active –  $612,320 average asking price.  106 average DOM so far.  Average asking price = $516 / sq ft.

9  dabo’d.   88 average DOM

  • 159 14th St first listed at $399K on Nov 3;  reduced to $384K on Jan 16;  $365K on Feb 23;  $349.9K on Apr 15.
  • 610 Newark listed at $485K on Feb 2;  reduced to $469K on Mar 30;  $449,999 on May 1.
  • 1315 Washington listed at $$559,888 on Apr 8;  reduced to $539,888 on May 13;  $525K on May 22.
  • 1425 Garden (Garden St. Lofts) listed at $875K on Sept 12;  reduced to $799K on Feb 12;  $719K on Apr 24. 

7 sold – $713,999 average price.   Average 74 DOM.  Average sales price = $650 / sq. ft.

28 price reductions.

Three Bedroom and Larger Hoboken Condos:

68  active 3BR condos – $887,260 average asking price.  113 DOM so far.  Average asking price = $506 / sq ft. 

8 new listings.  Average list price $777,150.

None dabod.

None sold.

14 price reductions.

Hoboken Condo Open Houses

If you are in the market for a Hoboken condo, our Hoboken Open House Google Map is your single best source for locating every open house in Hoboken. It’s posted on Friday every week. The info is updated weekly. If your google search seems to pull up an older version, click on the title link to get the most current map.

Posted by Lori Turoff | Currently 27 Comments »

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