MONDAY MORNING HOBOKEN CONDO MARKET STATS

WEEKLY STATISTICS 12/07/08- 12/14/08

 We are definitely in the seasonal slowdown for condo purchases as we enter closer to the holidays and new year.  It’s a great time to seek excellent values.  Also, mortgage rates have become even more affordable.  Here is last weeks stats.

FIRM ACCEPTED OFFERS:

The Hoboken condo market had a total of 4 firm accepted offers last week which is slightly off of the 6 units that went to contract in the previous week.

 1 BEDROOM

None in this category

 2 BEDROOMS

3 condos had accepted offers Click Here to View Listings

Average listing price is $711,633 and average days on market is 76 days.  One of these condos was at 1025 Maxwell Lane (1st Phase of Maxwell Place) that was listed at $980,000.

3-4 BEDROOMS:

1 condo had a firm offer Click Here to View Listings

Listing price was $549,000 and this has been on the market 78 days.  Nice value!

SOLD CONDOS:  

Total of 7 condos closed last week.  A small up tick from the previous weeks stats of 5 closings.

 STUDIOS:

None sold in this category

 1 BEDROOM:

4 condos sold.  Click Here to View Listings  Average listing price was $449,750 and selling price was $448,750 (just -.2% of listing price).  3 out of this 4 were new construction closings at Metro Stop, 800 Jackson St.  These didn’t have any price differential as the listing price was the same as the selling price.  The only resale sold at -1% of asking price.  Average days on market were 99.

 2 BEDROOMS:

2 units sold with an average listing price of $557,000 and an average selling price of $552,000 (-.8% of list price)

Average days on market was 69 days.  Click Here to View Listings

 3 – 4 BEDROOMS:

A 3 bedroom sold here after 299 days on market (new construction).  List price was $675,000 and final selling price was $650,000.  (-3.7% of asking price).

 ACTIVE FOR SALE MARKET:

As of today there are 509 Hoboken condos actively listed for sale in our MLS.  They have an average asking price of $639,907 and a median price of %574,900..  Average days on market sits at 115 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.

Firm accepted offers are offers that have cleared the mandatory attorney review process and are now considered a binding contract of sale.

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