MONDAY MORNING HOBOKEN CONDO MARKET STATS

Weekly statistics 1/11/09- 1/18/09

We had a very cold week in Hoboken.  Just ask the passengers of the US Airways flight that landed safely in the Hudson River.  I happened to be traveling to Seattle that day, the same ultimate destination of that flight, otherwise I might have witnessed the landing from my living room window.  Scary but ultimately a good ending.

Our real estate market also is still scary for many folks but to those willing to brave the chill of the market, they to will ultimately have a good ending as well.

Affordability is fantastic with great deals on lots of nice homes.  Interest rates are supper low.  I’ve found 30 year fixed rate mortgages as low as 5.14% at Bankrate.com.

If you are ready, able AND willing….you can move into your dream home at a good discount.  

As of today, there are 104 condos pending to close.  These are the people that have made the commitment in this market!

Here are the folks that took advantage of the opportunities last week…..

FIRM ACCEPTED OFFERS:

 The Hoboken condo market had a total of 9 firm accepted offers last week.

 1 BEDROOM

4 condos received an accepted offer Click Here to View Listings

These homes averaged 57 days on market.

2 BEDROOMS

5 condos had accepted offers Click Here to View Listings

Average listing price is $488,560 and average days on market is 45 days.  

3-4 BEDROOMS:

No accepted offers in this category

SOLD CONDOS:  

Total of 4 condos closed last week.

STUDIOS:

No closings in this category

 1 BEDROOM:

1 condo sold.   Click Here to View Listings This home was listed at $239,000 and sold for $215,000. (-10% of listing price)  This home was on the market for 98 days.

 2 BEDROOMS:

3 unit sold.   The average asking price was $634,333 and average selling price was $602,666 (-4.9% of listing price)

Average days on market was 70 days. Click Here to View Listings

3 – 4 BEDROOMS:

No closings in this category.

ACTIVE FOR SALE MARKET:

As of today there are 500 Hoboken condos actively listed for sale in our MLS.  They have an average asking price of $647,535 and a median price of $564,838.  Average days on market sits at 126.

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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