Hoboken Real Estate Market Update - February

My Hoboken Real Estate Market Update February Report

February is showing Spring like activity. Due to steady low inventory, combined with low interest rates, and an unseasonably warm winter, buyer's are buying earlier in the year, and steady investor participation and cash buyers is apparent accounting for about 30% of sales. We are seeing all sectors in the market active from low end to the very high luxury end and even units that were "stale" with 200+ days on market are under contract, and same day frenzies with listings receiving multiple bids the first day on market.


February Sales

For the month of February Hoboken saw a total of 50 sales. Up from 33 units in January.  From the lowest priced sale, a bank owned, one bedroom one bath at 815 Willow with a list price of $149,500 and a sale price of $133,000. To the highest priced sale, 2060 square foot, 3 bedroom 2.5 bath at The Garden Street Lofts with a list price of $1.275 Million and a sale price, of $1.265 Million

Median List Price for the month was $462,500 and Median Sale Price was $448,500. Median Days On Market was 59 Days.  (Down from January's $475,000 Median List and $465,000 Median Sale Price but Up from December's Median Sale Price of $417,000)

February Units Pending

There are 67 units pending. A big jump from January's 48 units and a leap from December's 32 Units.

The Median List Price for these units pending is $437,500. The Median Days on Market just 22 days.

Link To January Sales Report

Buyers: in this type of market you will want to sign on the help of a real estate agent to keep you in tune to new listings as soon as they hit since realtors get inside access from their networks of other realtors.

Sellers: Make sure your home is positioned in the best possible light with strategic pricing, staging and marketability to benefit from the current low inventory and availability of buyers.

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