MONDAY MORNING HOBOKEN CONDO MARKET STATS

Weekly statistics 11/16/08- 11/23/08

FIRM ACCEPTED OFFERS:

The Hoboken condo market had a total of just 3 firm accepted offers for last week .  This was a decline from the 7 offers from the previous week.

Firm accepted offers are offers that have cleared the mandatory attorney review process and are now considered a binding contract of sale.   This is an effective statistic for gaging current buyer activity as the “sold” statistics reflect activity from offers accepted up to a year or more ago.

STUDIOS:

1 studio had a firm offer.  Click Here to View Listings

Listed at $254,000 and has been on the market 29 days

1 BEDROOM:

1 condo had firm offer  Click Here to View Listings

Listing price is $249,900 and has been on the market 99 days.

2 BEDROOMS:

1 condo had received a firm offer.  Click Here to View Listings

Listing price is $589,000 and has been on the market 105 days.

3 BEDROOMS:

No firm offers!

SOLD CONDOS:  

Total of 10 condos closed last week.  This represents a slight improvement from last weeks 8 closings.

 STUDIOS:

No closings!

1 BEDROOM:

2 units sold with an average listing price of $487,000 and an average selling price of $438,750 (-9.9% of list price)

Average days on market was 126.  Click Here to View Listings

2 BEDROOM:

7 units sold with an average listing price of $541,785 and an average selling price of $523,428 (-3.38% of list price)

Average days on market was 66. Click Here to View Listings

3 BEDROOMS:

1 condo sold.  Listing price was 589,000 and selling price was $562,500. (-4.49% of list price)

 As of today there are 525 Hoboken condos actively listed for sale in our MLS.  They have an average asking price of $638,105.  Average days on market are now 107 days

All of these statistics are compiled from the Hudson County Multiple Listing Service (HCMLS) and do not include  properties that are not listed on this MLS such as some new construction and for-sale-by-owners.

If you would like specific statistics for your home, click on http://www.HobokenMarketValues.com

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