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