Hoboken Real Estate Update November
November 1 - November 13th
So far in November the Hoboken real estate market reports 6 closed sales. The median list price for those sold was $594,500 and the median sale price was $573,000. Median days on market just 40 days.
Units pending so far for the month total 13 units. The median list price for these pending is $446,000 and the median days on market is 86 days.Pricing is critical in this type of market, even though there is very low inventory. You can see that for those units sold, the median days on market was just 40 days, while the median days on market for those pending, many of those units were on the market 100+ days with price reductions.
If a home is priced right in today's market, it will sell quickly. And there are many buyer's out there looking for the right home at the right price.
While inventory is low, (an amazing just 265 units for sale) if you are a seller don't be tempted to list higher than market price because you could end up affecting your final sale price by having longer market time and price reductions to entice buyers to come back to your home.
And if you're a buyer, if you see a home you like and the price is right, don't wait to make an offer or you can lose it.
Happy house hunting!!
No comments:
Post a Comment