HOBOKEN CONDO MARKET WEEKLY STATS

Weekly statistics 3/08/09- 3/15/09

Wow…8 condos went under contract last week which is double the amount from the previous week.  The Hoboken condo market also had 11 condo closings which is the same as last weeks amount.

As of today, there are a total of 111 Hoboken condos pending to close.  These are the buyers making a commitment in this market!

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

FIRM ACCEPTED OFFERS:

 1 BEDROOM

2 units received accepted offers Click Here to View Listings

These homes averaged 50 days on market.

2 BEDROOMS

5 condos had accepted offers   Click Here to View Listings

Average days on market for this group was 137.

3-4 BEDROOMS:

1 condo received an accepted offer.  This was a 1728 square foot 3 bedroom, 2 bath condo at 108 Jackson St.

It was originally listed at $839,000 on 5/5/08 and after subsequent reductions had a asking price of $700,000.

Now under contract.   Click Here to View Listings

SOLD CONDOS:

STUDIOS:

No closings

1 BEDROOM:

1 property closed.   Click Here to View Listings  Listing price was $434,5000 and selling price was $422,000  

(-2.8% of listing price)  The condo was on the market for 23 days.

2 BEDROOMS:

9 units sold.  Click Here to View Listings   Average listing price was $530,322.  Average selling price was $515,461 (-2.8% of listing price).  Average days on market was 82

3 – 4 BEDROOMS:

1 condo closed.   Click Here to View Listings  Listing price was $675,000 and selling price was $642,500

(-4.8% of listing price)  This was a newly constructed 3 bedroom, 3 bath home with a 206 square foot terrace.

Days on market was 175.  The days on market could have been extended due to the condo still being under construction.

ACTIVE SALE MARKET:

As of today there are 518 Hoboken condos actively listed for sale in our MLS.  This is down slightly from the 526 on market during last week.  These have an average asking price of $621,095 and a median price of $529,450.  Average days on market sits at 105.

Search entire Hoboken condo market at http://InvestHoboken.com   then click on Browse Hoboken Listings

I welcome your specific questions.  Email me at eddie@InvestHoboken.com

 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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