Hoboken Condo Stats | Hoboken Real Estate Market

Hoboken Condo Stats - Hoboken Real Estate Market

I like Trulia.com, I visit the site several times a week for information and to answer questions posted by consumers. Check out my profile. I have found Trulia to be mostly accurate in their reporting compared to some other sites. (However when searching for properties, you'll want to check out realtor.com or remax.com - both have the most current information fed by the actual activity from the MLS..)

Today I was looking through the stats for Hoboken Condo's and I found two graphs interesting. (You may need to adjust your font settings and zoom in to see them - the embed code was huge so I had to shrink it to fit in this layout)

Hoboken Recently Sold Homes

This first one shows median sales prices for all Hoboken Condo's from November 09 to November 2010. You can see that the lowest prices for the year happened last February at about $550,000 for the median sales price. And if you look at the high in August 2010, you can see it trending down towards $550,000 again..

Hoboken Recently Sold Homes

Now look at the second graph. You can see that the trend is going up for number of sales. Buyers have more confidence now than they did a year ago, or perhaps they think it's a good time to buy before rates go up and sales pick up. Whatever the reason, sales are up over 250% year over year.

What do you think? Is the market turning around? Will prices continue to slide?