August 2009 Hoboken Condo Sales Statistics

Here are the final sales figures for August 2009 compiled using the Hudson County Multiple Listing Service.

The Hoboken condo market picked up steam and showed solid gains in August across all categories when compared to July 2009 stats. Total units sold improved by 15% (60 vs 69 units). Average prices rose 3.6 % ($478,431 vs $495,882) and median prices were up 10.7%, ($469,950 vs $475,000). The largest gain was in pending contracts. In August, there were 69 contracts signed, a 50% gain from the 46 contracts signed in July.

While these month over month gains are encouraging for our local market, they are still mostly down from the August 2008 figures. The exception was an increase in pending contracts, another sign that buyers may be getting off of the fence and into the market.

Here are the comparisons:

	August 2008	August 2009	Comparison:
Units Sold:	73	69	-5.4%
Avg. Price:	$534,422	$495,882	-7.2%
Median Price:	$521,500	$475,000	-8.9%
Pending:	67	80	+19.4%

August 2009 Sold Condominiums:

High Low Average Median Total Price Listing Count List Price: $949,000 $289,000 $520,514 $499,000 $35,915,499 60 Sold Price: $870,000 $270,000 $495,882 $475,000 $34,215,900 DOM: 479 4 125 73

Studio: none sold

1 bedroom: 23 sold.

Average asking price: $398,113

Average selling price: $382,865 (-3.8% of asking price)

Average days on Market: 70

2 bedroom: 40 sold

Average asking price: $563,327

Average selling price: $533,925 (-5.2% of asking price)

Average days on Market: 153

3 bedroom: 5 sold

Average asking price: $655,360

Average selling price: $638,900 (-3.0% of asking price)

Average days on Market: 180

4 bedroom: 1 unit sold

Asking price: $949,000

Selling price: $870,000 (-8.3% of asking price)

Days on market: 25

August 2009 – Pending Contracts. These are the deals that were consummated during the month and represents the current buying activity.

Pending Condos: 80

High Low Average Median Total Price Listing Count List Price: $1,259,000 $239,000 $490,452 $451,950 $39,236,195 80 Sold Price: pending pending pending pending pending DOM: 523 3 104 85

Studio: 1 contract

Asking price was $499,900 and days on market was 94.

1 bedroom: 31 contracts

Average asking price: $372,462

Median price: 379,900

Average days on Market: 91

Median days on the market: 70

2 bedroom: 41 contracts

Average asking price: $519,299

Median price: $515,000

Average days on Market: 103

Median days on the market: 104

3 bedroom: 6 contracts

Average asking price: $858,275

Median price: $800,825

Average days on market: 170

Median days on market: 104

4 bedroom: 1 contract pending

Asking price was $749,000. Days on market was 135

Best,

Eddie

I hope you find this info useful.

As always, don’t hesitate to contact me with any specific questions.

Your resource for Hoboken area real estate news, advice, best buys and more!: www.HobokenRealEstateBlog.com

If you would like specific information tailored to your Hoboken condo, email us direct at info@InvestHoboken.com

Search entire Hoboken MLS at www.InvestHoboken.com Then click browse Hoboken Listings