MONDAY MORNING HOBOKEN CONDO MARKET STATS

Weekly statistics 12/14/08- 12/21/08

Ok….we are chugging along.  The condos are not exactly flying off of the market however we remain a market full of opportunities for savvy buyers and investors.  Rates had hit 37 year lows as well.  I have seen 30 year fixed rate conforming loans (up to $417,000) for borrower with good credit (720 FICO score or above) in the 4.78 range.    

Thats simply AMAZING!!!!!!!!

Here’s last weeks activity…..

Firm accepted offers:

The Hoboken condo market had a total of 5 firm accepted offers last week which is slightly better than the  4 units that went to contract in the previous week.

1 BEDROOM

1 condo received an accepted offer Click Here to View Listings

This was listed at $300,000 and has been on the market for 46 days.

2 BEDROOMS

4 condos had accepted offers Click Here to View Listings

Average listing price is $507,579 and average days on market is 144 days.  

 3-4 BEDROOMS:

No accepted offers in this category

 SOLD CONDOS:  

 Total of 4 condos closed last week.  About half the number from previous weeks stats of 7 closings.

 STUDIOS:

None sold in this category

 1 BEDROOM:

1 condo sold.  Click Here to View Listings  This home was listed at $474,900 and sold for $455,000. (-4.1% of listing price)  This home sold quickly at just 17 days (Yes…this is still possible in this market!)

 2 BEDROOMS:

1 unit sold which was listed at $575,000 and sold at $562,000 (-2.2% of listing price)

Days on market was 152 days. Click Here to View Listings

 3 – 4 BEDROOMS:

2 units sold. Click Here to View Listings  These had an average asking price of $837,000 and average selling price of $816,250 which is -2.4% of asking price.  They sat on the market for an average 115 days.

 Active for sale market:

 As of today there are 512 Hoboken condos actively listed for sale in our MLS.  They have an average asking price of $654,640 and a median price of $575,000..  Average days on market sits at 117 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.

Eddie  

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