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Eddie Perez

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Tuesday Hoboken Condo weekly stats for 8/102008 - 8/17/2008

08-20-08
Eddie Perez

Hello all,

A total of 22 Hoboken condo's moved into a pending contract status last week.

Click Here to View Listings

DOM stands for Days on Market

LP stands for Listing Price

CONDO-COOP - Pending

CONDO-COOP Summary Statistics
High Low Average Median
LP: $750,000 $309,900 $502,886 $475,000
SP: $0 $0 $0 $0
ADDRESS Status Area Sq Feet Lst Date DOM LP SP
832 WASHINGTON ST DABO Hoboken 500 4/30/2008 105 $309,900
358 6TH ST DABO Hoboken 734 5/7/2008 96 $319,000
457 2ND ST DABO Hoboken 508 7/25/2008 21 $339,000
416 MONROE ST DABO Hoboken 717 4/21/2008 119 $369,000
79 GARDEN ST DABO Hoboken 750 7/30/2008 14 $384,900
517 JACKSON ST DABO Hoboken 724 2/4/2008 169 $391,000
300 NEWARK ST DABO Hoboken 635 8/4/2008 4 $395,000
841 WILLOW AVE DABO Hoboken 866 3/21/2008 150 $405,000
1115 WILLOW AVE DABO Hoboken 775 6/7/2008 68 $419,000
81 GRAND ST DABO Hoboken 725 7/23/2008 23 $424,000
307 1ST ST DABO Hoboken 860 10/6/2007 314 $465,000
920 HUDSON ST DABO Hoboken 800 5/20/2008 82 $485,000
421 MADISON ST DABO Hoboken 1132 6/6/2008 60 $530,000
812 GARDEN ST DABO Hoboken 6/26/2008 49 $549,000
1300 GRAND ST DABO Hoboken 1038 5/5/2008 74 $592,000
1300 GRAND ST DABO Hoboken 1038 7/17/2008 29 $619,900
708 GRAND ST DABO Hoboken 1363 2/6/2008 194 $639,000
708 GRAND ST DABO Hoboken 1363 2/6/2008 194 $639,000
508 GARDEN ST DABO Hoboken 1210 6/12/2008 59 $639,000
1200 GRAND ST DABO Hoboken 1272 3/30/2008 124 $684,900
1500 WASHINGTON ST DABO Hoboken 1155 1/9/2008 165 $714,900
80 PARK AVE DABO Hoboken 1500 7/21/2008 23 $750,000
Total Listings Avg Avg Avg
22 97 $502,886

Total Hoboken condo availability now is at 469 units. With 22 accepted offers last week, this translates into a 21.3 week inventory at last weeks pace. This is a reduction from the 29 week inventory of the previous weeks statistics.

The market is still active in the under $750,000 market.

All of these stats are compiled by me from the Hudson County Multiple Listing Service and do not include any new constuction or resales not on this service.

Email me if you would like specific market info.

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Why do we get up in the morning to work in the Hoboken real estate market?

06-19-08
Eddie Perez

So much bad news!

We've all heard the headlines. "Inflation roars its ugly head"; "Worst economy since the Great Depression!"; "Foreclosures hit an all time high!" It's amazing how we get up in the morning to go to work!

Here's my take on this.

"High oil prices perfectly positioned Hoboken for continued success!" I like that headline!

There have been recent trends of people opting to stay close to employment and entertainment centers and the high cost of oil will continue to "fuel" this demand.

Hoboken's prime location positions it perfectly to take advantage of this trend and should help keep the real estate picture stable for the foreseeable future.

With a multitude of commuting options into Manhattan and other high density employment hubs in New Jersey, Hoboken with its PATH trains, ferries, buses, New Jersey Transit trains, light-rail system and double tunnel system into Manhattan offers it's residents easy access to these centers, often times saving workers hours of time compared with their suburban brethren.

Combine this with increased improvements to infrastructure and lifestyle amenities such as the new Pier Park C, The W Hotel Hoboken, refurbishment of the Erie Lackawanna ferry terminal, new 5 screen movie theater and the upgrading of buildings, retail and restaurants, Hoboken should be the golden pot at the end of the rainbow of the otherwise stormy national picture.

All this and we have great housing selection, prices and mortgage rates!

That's why I get up to work in the Hoboken market every morning!

Eddie Perez

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