April 2009 – Hoboken Condo Market Statistics

Here are the final numbers for April 2009 compiled using the Hudson County Multiple Listing Service.

The numbers are showing the effects from the challenges that the local real estate markets have been facing.  

The bright spot is that buyers that are participating (you have to participate to take advantage) in this buyers market are finding affordability fantastic, mortgage rates at historic lows, excellent selection / quality and negotiating possibilities off of the list prices.

To be a “buyer”, one has to actually buy!  Check out the stats:

  April 2008 April 2009 Comparison:
Units Sold: 76 38 -50%
Avg. Price: $564,915 $433,107 -23.3%
Median Price: $549,900 $422,500 -23.1%
Pending: 80 49 -51.2%

April 2009

Sold Condominiums: 39

  High Low Average Median Total Price Listing Count
List Price: $700,000 $319,000 $451,358 $434,450 $17,151,618 38
Sold Price: $660,000 $310,000 $433,107 $422,500 $16,458,100  
DOM: 475 4 88 66    

Studio: none sold

1 bedroom: 17 sold.

Average asking price: $395,322

Average selling price: $380,770 (-3.7% of asking price)

Average days on Market: 108

2 bedroom: 19 sold

Average asking price: $483,229

Average selling price: $462,368 (-4.3% of asking price)

Average days on Market: 69

3 bedroom: 2 sold

Average asking price: $624,888

Average selling price: $600,000 (-4.0% of asking price)

Average days on Market: 90

4 bedroom:  None sold

April 2009

Pending Condos: 49

  High Low Average Median Total Price Listing Count
List Price: $1,199,000 $279,000 $523,283 $498,000 $25,640,882 49
Sold Price: pending pending pending pending pending  
DOM: 385 6 99 64    

Studio: 1 contract pending. Asking price is $480,995. Days on market is 112

1 bedroom: 16 contract pending Click Here to View Listings

Average asking price: $381,009

Average days on Market: 72

2 bedroom: 30 contract pending Click Here to View Listings

Average asking price: $567,609

Average days on Market: 100

3 bedroom: 2 contract pending Click Here to View Listings

Average asking price: $1,017,000

Average days on Market: 282

4 bedroom: no contract pending

Stay informed with buying & selling advise, statistics, new listings, Be$t Buy$ and more!!

www.HobokenRealEstateBlog.com

If you would like specific information tailored to your Hoboken condo, email me direct at eddie@InvestHoboken.com

Search entire Hoboken MLS at www.InvestHoboken.com Then click browse Hoboken Listings

Edward (Eddie) Perez

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