Archive for the ‘Home Prices’ category

30 Day Hoboken Condo Market Snapshot. Not to Shabby!

April 5, 2011

In the last 30 days, 66 Hoboken condos went into contract, a drop from the same period in 2010 however these numbers are going against the buying frenzy caused from the Home Buyer Tax Credit that was in effect during the spring market of last year.

To me, this indicates a robust, balanced market as we have 365 condos currently for sale on the Hudson County Multiple Listing Service. If we divide this by the 66 condos that went into contract in the last 30 days, we have 5.5 month inventory at current sales pace (Absorption Rate).

An absorption rate that’s between 3-6 months is typically defined as a balanced market whereas above 6 months is a buyers market and below 3 months is a sellers market.

Here’s the stats:
Total contracts last 30 days: 66 -15.3% from same period 2010
Avg asking price: $524,803 -2.72% from the $539,521 average asking price in 2010
Median asking price: $489,500 + 2.14% from the $479,000 average median price in 2010

The most expensive condo to go into contract is a 1865 sqft 2 bed, 2 den, 2.5 bath at Maxwell Place. On the opposite side, the lowest priced unit to go into contract was a 453 sqft studio at 1015 Washington St.

I welcome any questions that you have for your particular condo.

eddie@InvestHoboken.com
Have a great day!
Eddie
Edward (Eddie) Perez

Hoboken Real Estate Blog – Stats, new listings, price reductions, news and more!!

Advertisements

47 Hoboken 3 bedroom condos for sale starting in the low $400K’s to a $2.4 Million at the W-Hotel & Residence’s

December 3, 2010

We currently have 47 Hoboken 3 bedroom condo’s on the market within the Hudson County MLS.

Click here to see all 47 Hoboken 3 bedroom condos

The lowest priced unit is a 1225 square foot home at 1st and Washington St. which is offered at $425,201.

The most dramatic (and highest priced) is in the W Hotel & Residence’s- Hoboken.   A stunning 2375 square foot

3 bedroom, 3 1/2 bathroom home with amazing views of your neighbor……which happens to be the skyline of Manhattan!

This the best Hoboken has to offer at $2,499,000.   W-Hotel & Residences 3 bed, 3.5 bath home

Lots of other really great options in-between!

Happy shopping!

 

Hoboken Kicks Off Car-sharing Program with Eye to Easing Congestion

June 22, 2010

A citywide car-sharing program has been launched by the city of Hoboken and Connect by Hertz, with the intent of reducing the parking congestion in Hoboken.

The program is called “Corner Cars” and its main goal is to provide city residents with 42 car-sharing vehicles. According to Hoboken and Hertz officials the program is the first citywide public/private partnership between a municipality and a car-sharing company in the country.

The anticipated availability date for the use of cars will be July 1.

Since it is such a difficult task to find parking in Hoboken there is hope that the  “Corner Cars” program will help alleviate parking issues.

The program is a good idea for residents who only need a car occasionally to run errands or take a short trip.  Another benefit would be to help residents avoid the high price of owning a car with the cost of insurance, gas, registration, and parking costs.

Depending upon the type of vehicle, and the time of the week, the cost could range from $5 to $16 dollars per hour. There will also be a $25 application fee to be a program participant.

Officials have estimated that the program could potentially take about 17 cars off the road. The program’s eventual goal is to take approximately 750 cars off the street within 12 to 18 months and about 30 to 50 people will share each car.

There will be 42 vehicles available at 21 locations throughout the city, each with its own reserved parking space.

The new “Corner Cars” program once again shows what a great and innovative city Hoboken is to call home. 

For more great reasons to buy a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available,  this is the opportunity you have been waiting for.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can also be reached by phone at 201-344-2886.

Are Home Prices Really Rising?

May 31, 2010

Are home prices really rising? According to the National Association of Realtors, by comparison from this time last year, median home prices posted strong gains in U.S. cities in the first quarter of this year. 29 metropolitan areas posted double-digit increases and the median was up in 91 of 152 areas.

The urban price increase hid a drop of less than 1 percent in the national median price, which fell from $167,300 in the first quarter of 2009 to $166,100 in the recent quarter.

It is obvious that the federal home buyer tax credit helped to stimulate an extra one million home sales during the quarter. That demand contributed to the flattening out of home prices.

By comparison, sales increased from a year ago in 44 states and Washington, D.C. Two states were unchanged, and four posted declines.

For more great reasons to buy a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available,  this is the opportunity you have been waiting for.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can also be reached by phone at 201-344-2886.

Is Winter a Good Time to Sell Your Home?

January 24, 2010

Times are changing and many are saying that thiswinter is an ideal time to buy a home. The main reason is that the $8,000 first-time buyers’ tax credit and $6,500 incentive for existing homeowners will expire April 30.

Without a doubt, proponents and critics of the tax credit both agree that the program has improved home sales and even increased the selling prices. Although, there was a noticeable decrease in home sales during the period of when the credit was extended and expanded after the original Nov. 30 deadline. This may bring concern about the market’s reaction when the government programs end. There is a good probability that the government may extend the credit again, especially if there is a possibility that it may cause the real estate market to take another major decline.

The timing of the tax credit is intended to get the housing market through the winter months and create momentum during spring and summer which are traditionally the best home selling seasons.

For more great reasons to by a home in 2010, please click on The Best Time to Buy a Home is Now!

There are many wonderful opportunities to purchase a home in Hoboken. Whether it be a lovely condo, brownstone, Classic Victorian or anything in between; I guarantee you there is a home for you. Please contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at eddie@InvestHoboken.com or 201-344-2886.

The Right Price

January 24, 2010

During the winter it can be very frustrating to sell a home. But even in a slow market, homes can and will sell.

It is very obvious that condition and appearance are important to a home’s marketability, but nothing is more important than setting the price appropriately right when the property is listed for sale.

To set the ideal selling price, it is critical to work with an experienced real estate agent with plenty of local market knowledge.

A market analysis is based on current listings and homes that have sold in the past few months. This is a great tool to find out the best selling price. A big advantage of using an experienced realtor is that they have the ability to check prices of homes that have gone under contract, and they can evaluate the length of time a home has been on a market in a specific price range.

To find out what is going on in Hoboken real estate market, please go to Hoboken Homes.           

Currently, there are many great opportunities to purchase a home in Hoboken. Perhaps you are considering buying your very first home, or you may be at the point in your life that you are searching for your ultimate dream home. If either may be the case or if it is something in between, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

WEDNESDAY WEEKLY HOBOKEN PRICE REDUCTIONS

February 11, 2009

Take advantage of these recent price reductions to find the best home at the best value!  Condos, single & multiple family homes..all in Hoboken!

This past week the Hoboken market had 27 properties lower their prices.  The “A” homes, those in the best condition and or location, generally sell the quickest.  

Follow the value….not the herd!  

STUDIO

None in this category

1 BEDROOM

This list of 5 homes starts off with a lovely home at 9th & Park offered now at $329,000.

Click Here to View Listings

2 BEDROOM

17 homes here starting off with a 686 square foot 2 bed / 1 bath condo at 6th & Park offered at $329,000.

There’s also a 1024 square foot 2 bed / 2 bath, terrace and parking listed now at $479,000.  Take a look at them all.

Click Here to View Listings

3-4 BEDROOM

We have 3 homes here.  A 1261 sqft 3 bed / 2.5 bath is now $495,000.  

Click Here to View Listings

1-4 FAMILY HOMES

Ready to move into a row house?  Both of these have fantastic locations and tons of potential.

11th & Garden St home is $765,000.  4th & Garden (directly across from Church Sq Park) is $869,000.

Click Here to View Listings

Search the entire MLS log onto:

http://www.InvestHoboken.com  and go to Browse Hoboken Listings.

Questions???  Email me.  eddie@InvestHoboken.com  

 

Eddie