Hoboken Condo Market Weekly Stats

 Important update:  

An unfortunate request has been made by my MLS, the Hudson County Multiple Listing Service (HCMLS). They are enforcing a “rule” that members are not able to post links to other brokers listings.  These are same links that I email to customers who are searching for homes.  The only way to provide this information is if a customer asks for it.  They feel that providing open information and analysis is somehow detrimental to the other brokers in town.  I personally don’t see how providing information to followers of this site hurts anyone.  One could easily argue the exact opposite.  

Now without getting into the exact boring details of the HCMLS rules, here is my short term solution.  I’ll continue to provide the statistics however if you would like the more detailed links to the individual properties, email me your request with “Hoboken Market Info” in the subject field.  I’ll send you the report with all the links.  

Sorry for the extra step everyone has to take but I’m sure it will make the folks at the HCMLS happy.  Life is too short to get upset over little things like this.

In the meantime, I’ll be working with other members on trying to get the HCMLS and the Liberty Board of Realtors on setting rules/regulations that will best help consumers.

Ok, here is last weeks activity.

Weekly statistics 6/21/09- 6/28/09

18 condos went into contract last week, a nice little gain form last weeks report of  13 units

10 condos closed last week. 7 closings the previous report.

As of today, there are a total of 188 Hoboken properties pending to close (179 last week).  

Here are last weeks deals…

Firm accepted offers:

Studio & 1 bedroom

4 accepted offers (4 last report) These averaged 97 days on market.

CONDO-COOP – Pending
ADDRESS Area Sq Feet Bath     Beds DOM    LP SP
231 GRAND ST Hoboken 670    0 1   65 $299,000  
706 WILLOW AVE Hoboken 690    1 1 162 $320,000  
807 CLINTON ST Hoboken 881    1 1 138 $399,000  
Total Listings         Avg Avg  Avg
4          97 $328,250  

2 bedrooms

13 condos had accepted offers  (9 last report)           

Average days on market for this group was 82

CONDO-COOP – Pending
ADDRESS Area  Sq Feet Baths  Beds  DOM     LP SP
301 MONROE ST Hoboken 658 1  2 67 $308,199  
635 6TH ST Hoboken 1130 2  2 26 $399,000  
336 BLOOMFIELD ST Hoboken 1023 1  2 14 $429,000  
607 MADISON ST Hoboken 1080 1  2 56 $450,000  
300 NEWARK ST Hoboken 1500 2  2 15 $469,000  
1029 GARDEN ST Hoboken 1000 2  2 243 $479,000  
510 MONROE ST Hoboken 1296 2  2 118 $525,000  
812 GRAND ST Hoboken 1187 2  2 161 $535,000  
207 2ND ST Hoboken 1020 2  2 70 $567,950  
1331 GRAND ST Hoboken 1383 2  2 44 $586,888  
71 JEFFERSON ST Hoboken 1200 2   2 96 $619,000  
1200 GRAND ST Hoboken 1121 2  2 23 $629,000  
1425 GARDEN ST Hoboken 1567 2  2 141 $899,000  
Total Listings         Avg Avg Avg
13          82 $530,464  

 
3-4 bedrooms:

1 accepted offer (0 last report)      85 days on market     

CONDO-COOP – Pending
ADDRESS  Area   Sq Feet   Baths  Beds    DOM     LP SP
81 ADAMS ST Hoboken    1570     2    3     85 $769,000  
Total Listings            Avg    Avg Avg
1             85 $769,000  

Sold Condos:  

Studios & 1 bedroom:

2 units sold  (2 last report)  

CONDO-COOP – Sold
ADDRESS   Area  Sq Feet  Bath Beds  DOM      LP       SP
924-926 JEFFERSON ST Hoboken     800    1  1   227 $434,900   $410,000
812 GRAND ST Hoboken     873    1  1       244 $445,000   $425,000
Total Listings         Avg     Avg      Avg
2          235 $439,950    $417,500

Average list to selling price: -5.10%

2 bedrooms:

8 units sold.   (6 last report)       

CONDO-COOP – Sold
ADDRESS Area   Sq Feet   Baths  Beds  DOM       LP       SP
920 JEFFERSON ST Hoboken      826      1   2  33  $459,900  $430,000
700 1ST ST Hoboken     1144     2 2  46  $515,000       $478,000
102 PARK AVE Hoboken     1225      2   2    67  $539,000  $484,000
452 2ND ST Hoboken     1342      2 2    88     $550,000  $525,000
531 GARDEN ST Hoboken     193      2 2  103  $650,000  $595,000
531 GARDEN ST Hoboken     1154      2 2   15  $625,000     $600,000
219-221 GRAND ST Hoboken     1295      2 2    67  $629,000  $600,000
2 CONSTITUTION CT Hoboken        1464       2  2  114  $929,999  $915,000
Total Listings         Avg     Avg     Avg
8         66 $612,237 $578,375

Average list to selling price: -5.53%
3 – 4 bedrooms:

 0 closings (0 last report)     

Active for sale market:

As of today there are 570 Hoboken condos actively listed for sale in our MLS.  A nice decrease from last weeks high of 581 units.  Average asking price is $583,756 ($586,453 last week) and median price is $529,900 ($529,000 last week).  Days on market average 107 (106 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

Edward (Eddie) Perez

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