Hoboken Condo Market Weekly Stats

Weekly statistics 3/15/09- 3/22/09

Accepted offers are trending up.

12 condos received firm offers that cleared attorney review including a condo at “The Constitution” listed at $1,085,000.  Previous accepted offer reports were 4 units three weeks ago and 8 units two weeks ago.

6 condominiums closed last week.  11 closings the previous week.

ADDITIONAL NEWS:

·         Incredibly low mortgage rates continue to be available to those that qualify

·         Existing home sales rise 5.1 percent in February; prices plunge 15.5 percent

As of today, there are a total of 117 Hoboken condos pending to close (111 last week).  These are the buyers making a commitment in todays market!

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

FIRM ACCEPTED OFFERS:

1 BEDROOM:

6 units received accepted offers  Click Here to View Listings

These condos averaged 81 days on market.

2 BEDROOMS:

6 condos had accepted offers    Click Here to View Listings

Average days on market for this group was 106.

3-4 BEDROOMS:

No accepted offers

SOLD CONDOS:

STUDIOS:

 

No closings

1 BEDROOM:

2 properties closed.    Click Here to View Listings   Average listing price was $417,000 and average selling price was $407,500  (-2.27% of listing price)  Days on the market average 90.

2 BEDROOMS:

4 units sold.   Click Here to View Listings  Average listing price was $651,475.  Average selling price was $614,250 (-5.7% of listing price).  Average days on market was 76.

3-4 BEDROOMS:

No units closed

ACTIVE FOR SALE MARKET:

As of today there are 536 Hoboken condos actively listed for sale in our MLS.  This is up from the 518 units on market  last week.  Average asking price is $611,192 and a median price of $529,00.  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

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