Hoboken Real Estate Condo Market Update

Hoboken Real Estate Condo Market Update
Week Of August 15th thru August 21st

Condo Sales:
For the week there were 12 sales. From the lowest priced, a 400 sq foot junior one bedroom at 209 2nd street with a list price of  $220,000 and a sale price of $200,000; to the highest, an 1897 sq foot 3 bedroom 2 bath at 1500 Garden St the Hudson Tea, with a list price of $1.031 Million and a full sale price.

Median list price of this week was $462,500 and the median sold price was $442,500. Average days on market was 67 days.

Condos Pending:
This same week, 11 units changed their status to under contract. From the lowest asking price, 333 Adams St, 556 square foot one bedroom with an asking price of $269,000 and the highest asking price, 264 5th street, a 1288 sq foot 2 bedroom 2 bath with parking and large private patio - asking price $775,000.


Median list price for the week was $379,000. Average days on market was 82 days.

Currently there are just 309 units available for sale. 139 units are waiting to close. Absorption rate is steady in Hoboken around 6 month's of inventory which in many markets across the U.S. is considered to be a healthy, normal market.

Today interest rates are under 4.5% and are expected to trend downward into the low 4's and high 3's if you can believe that!!



Information Deemed Reliable, provided by the Hudson County MLS, but not guaranteed.