Hoboken Condo Market Data for today July 5th 2008

As your Hoboken Condo expert I'd like to keep you and our community informed about the available, sold and other trends that affect the Hoboken condo market. I'm open to any suggestions from you that you'd like me to research or if you have any particulars requests. You can respond to my blog and I will respond in public or you can call or email me privately and I will respond accordingly.

As a start there are 486 Condos available in Hoboken as of today within the Multiple Listing System:

16 - Studios

130 - 1 Bedroom condos

288 - 2 Bedroom condos

46 - 3 Bedroom condos

5 - 4 Bedroom condos

1 - 5 Bedroom condo (which feels like a 1-family triplex home (6800 Square Feet) on First street in Hoboken)

Another FYI is that in the first 6 months of 2007 521 Condos were sold in Hoboken, compared to 401 condos in the first 6 months of 2008, this translates to a drop of 23% in Hoboken condo sales. the average selling price for the first half of 2008 is $532,041 and it took an average 75 Days On the Market to sell.The average for the first half of 2007 was $528,677 and it took about an average 71 Days On the Market to sell in the first half of 2007.

Although there has been a significant drop in sales, the average price however, didn't drop, as a matter of fact it went up by 0.6%. In short it takes about the same time, but it's harder to sell a condo in Hoboken.

Please don't hesitate to let me know if you'd like to receive property specific data by calling or emailing me.

Best regards,

Anoir Redouane

Your Hoboken Condo Expert