Wow, the real estate market is incredibly busy and it seems for every property there are a dozen buyers. Inventory is still low and activity high. There is no sign of any flooding of inventory or even a shower coming soon. In fact, home sales traditionally slow down in Q4 and we expect inventory to slowly lower into the winter months when seller's who are not in a rush to sell will take their homes off the market to enjoy the holidays in there home and try again in the Spring.
Sales:
For the month of September there were 57 sales reported. A drop off of about 38% compared with August
The Median List Price for the month was $489,000
The Median Sale Price was $480,000 A discount of about 1.8% of the asking price and up about the same from August's Median Sale Price.
The Median Days On Market was 42 days.
Pending:
For September Hoboken reported 56 units as under contract
The Median List Price for those pending is $497,000
The Median Days on Market is 44
Hoboken is averaging about 55 sales a month, with just 153 units for sale our current absorption rate is just 3.5 month's worth of inventory indicating a seller's market. Now could be the time to sell your home and capitalize on this rare opportunity. Please reach me for a consultation if you are considering selling your home before the Spring rush in 2013.
If you're looking for a home make sure to visit my website to search for the right place for you at www.myhobokenproperties.com
Information from the Hudson County MLS deemed reliable but not guaranteed.
Check back soon for more Hoboken Real Estate Market Updates.
What a lovely living room you have shared in here. Thanks for sharing your monthly market update. :)
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The Hoboken real estate monthly market is given here. Read all about it
ReplyDeleteThis was an excellent article. It has some valuable content on this topic. Thank you for compiling it into an easy to read and well written post.
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