One of the first few questions that I'm asked by prospective buyers who are new to the Hoboken Condo market is "What's the difference between living (atmosphere) in Uptown Hoboken or Downtown Hoboken?" and "Do condo values hold better Uptown Hoboken or Downtown Hoboken?"
There are probably as many ways to "research" this as there are answers for it. To keep it simple, however, I have taken Hoboken Condo sales data for the last three months of 2008 compared to the same period in 2006 from 11th Street to 15th Street between the Hudson River to the Palisades Cliff and from Observer Highway to 4th Street, also between the Hudson River to the Palisades Cliff.
Uptown Hoboken Condo Sales: (-10.8%)
Sold Hoboken Condos (04/01/2008 to 07/01/2008): 37 condos with an average price of $562,916
Sold Hoboken Condos (04/01/2006 to 07/01/2006): 30 Condos with an average selling price of $631,163
Downtown Hoboken Condo Sales: (+1.2%)
Sold Hoboken Condos (04/01/2008 to 07/01/2008): 95 condos with an average price of $525,251
Sold Hoboken Condos (04/01/2006 to 07/01/2006): 99 Condos with an average selling price of $519,133
Now this is obviously a pretty big picture regarding Hoboken condo values and should differ from condo to condo with condos closer to the Hudson River holding their values better and perhaps a lot of condos have even increased for the really special condos on the waterfront like Maxwell Place, Hudson Tea Building and others alike.
I would love to hear the different opinions and experiences from Hoboken Condo owners or other real estate agents interms of Uptown Hoboken versus Downtown Hoboken...and yes midtown you're invited as well.
Best regards,
Anoir Redouane
Your Hoboken Condo Expert
Full-Time Professional Realtor marketing and selling Hoboken Condos succesfully for the past seven years. My diligence and great negotiating skills have served my Hoboken sellers tremendously. - Anoir
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I was just in Hoboken last night - the area on the River (Hudson) Certainly is a happening place. Seems like areas of Jersey City are also cookin' - I have always heard of these places across the river but never experienced them. The apts/condos are 1/3 the price of their pricey neighbors across the river (Manhattan) - I would give them a try - looks like an up and coming area!
Dear Joan,
Thanks for your comment. I believe that Hoboken has past the "up and coming" status. Every area can still improve regardless, but I think that Hoboken already is a well establish place to live life very comfortably with lots of amenities in Hoboken and if not in Hoboken in the immediate area which Manhattan is definitely the front runner in terms of providing these amenities. Even though it's a small city, we do a lot of big city (read: New York City) things, like "Movies under the stars" which you can find this summer's schedule under one of my previous posts. Come and visit on one of these nights to experience first hand the sense of community in Hoboken. I'd like to give Hoboken "Already there and progressing" status.
Please visit back soon and thanks again for your comment.
Best regards,
Anoir Redouane
Your Hoboken Condo Expert
I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.
Dear Peg,
Thanks for your response! It's nice and encouraging to be welcomed by colleagues.
Please visit my blog often and feel free to give me some pointers.
Best regards,
Anoir
Welcome to Active Rain Anoir.
Dear Richard,
Thanks for your welcome.
You've sent me some invitations for your group and I'm not sure on how to join that group.
Best regards,
Anoir
Anoir there should be a link in the message.