Week Of November 22nd - 28th, 2010 Gobble Gobble!!
Condominium Sales:
For the week there were 3 sales! More turkey than closings ; )
1212 Washington, probably the deal of the year! Sold for $180,000. It is a 4th floor walk up, 654 sq ft one bedroom plus den with a list price of $229,000 sold for $180,000 after 280 days on the market. Needed upgrades.
Here's another deal.
603 Jefferson Street, is a three bedroom one bath, 983 square foot, with a list price of $299,000 - SOLD for $299,000 after being on the market 158 days, and it needed upgrades.
And last but not least - The Hudson Tea - 1500 Washington Street, a 895 square foot one bedroom, facing North and with original floors, kitchen and bath, no parking, and a list price of $485,000 sold for $459,900 after being on the market 71 days.
Median list and median sale was $299,000. Median days on market, 158 days. Currently, there are 406 condo's for sale. 38 Sold for the month. The median list price for the month was $472,000. Average list price was $534,203. Median sale price was $455,000 Average sale price was $511,465.
(I've been asked why I use median prices instead of averages. I don't like to use averages because I don't think it gives an accurate picture. Averages factors in the extreme lows and highs of the market, for this month, for example, it was $180,000 and 1.63Million - this affects the data by adding factors in very high or very low numbers.. You can see that in the difference between average and median.
If I remove the extremes, then the numbers shift. Average sale becomes $497,452 and median sale stays the same at $455,000.
Pending:
Eleven homes are waiting to close for this week. From the lowest, a 637 Square foot one bedroom two bath at 63 Madison, with a list price of $250,000; to the highest, an 1874 square foot at 610 Clinton, The Cast Iron Building, a two bed two bath duplex plus office, terrace and parking, with a list price of $910,000 are under contract.
Median list price for the week was $399,900. Median days on market is 67 days.
Brownstones and Single Family Homes
Sales:
Zero homes sold this week.
Pending:
Two homes are waiting to close. 103 Willow Terrace, a 4 bedroom 3 bath triplex with two decks and a list price of $769,000, and 33 days on market is waiting to close. And, 1247 Bloomfield, a 4 bedroom 3 bath four story brownstone with yard and a list price of 1.190M in need of full renovations, is waiting to close after being on the market for 50 days.
You have given all of the important information regarding Hoboken Real Estate Market Update Condos and Brownstones. And hence these details can help us to buy the good condos.
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