Hoboken Condo Market Weekly Stats

Finally some increased buying activity.  We saw nice gains in both pending contracts and closed sales.  Like we mentioned last week, the best way to take advantage of a buyers market is to BUY!!!   

Weekly statistics 5/17/09- 5/24/09

17 condos went into contract last week, a nice gain from the 11 units from the previous report.

14 condos closed last week.  4 closings the previous report.  Another noticeable gain!

As of today, there are a total of 150 Hoboken properties sales pending to close (140 last week).  

Here are the deals of last week…..

Firm accepted offers:

Studio & 1 bedroom

4 accepted offers (3 last report)       Click Here to View Listings

These averaged 106 days on market.

2 bedrooms

13 condos had accepted offers  (7 last report)          Click Here to View Listings

Average days on market for this group was 71.

3-4 bedrooms:

0 accepted offers (1 last report)    

Sold Condos:  

Studios & 1 bedroom:

3 units sold  (0 last report)         Click Here to View Listings  

Average listing price was $312,666.  

Average selling price was $298,333 (-4.58% of listing price)

Average days on market was 48.

2 bedrooms:

11 units sold.   (4 last report)        Click Here to View Listings  

Average listing price was $608,154.  

Average selling price was $573,454 (-5.70% of listing price).  

Averaged days on market was 53

3 – 4 bedrooms:

No closings (0 last report)    

Active for sale market:

As of today there are 568 Hoboken condos actively listed for sale in our MLS which is down from last weeks high of 576 units.  Average asking price is $582,101 ($574,310 last week) and median price is $529,000 ($525,000 last week).  Days on market average 104 (101 last week).

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

We welcome your specific questions.  Email us at info@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.

Edward (Eddie) Perez

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