Hoboken Condo Market Statistics April 2015

For the month of April, Hoboken saw a total of 88 condo sell.

Their Median List Price was $568,388 and the Median Sold Price was higher, at $577,388. This is continuing with the trend in March, where the Median List Price was $549,000 and the Median Sold Price was also higher, at $565,000.

The Median Days on Market was 12 days in April for Hoboken condos.

For the same month of April, there were another 115 units change their status to either DABO or UNDER CONTRACT - which both means they were taken off the market and an offer accepted by the seller. The Median List Price for these pending, are sharply higher than the Median Sold Price of April - at $619,000. We'll know next month the SOLD PRICE stats for these pending.


In a market like this it is important to have a knowledgeable real estate agent working for you. They can get the inside scoop to find properties for sale, make the appointment to get you in on time, and help you develop a strategy for an offer.

Happy house hunting!

Highest and Best - Again??

Yes, this week I participated in a highest and best, twice.

As most of you that are tuned into the current Hoboken and Jersey City Real Estate Market know, the current environment is extremely competitive. Multiple bids are now common place.

Well just yesterday, we submitted an offer for a property in Hoboken that ended up having a total of 7 bidders. And, get this. Four out of the seven, made the exact same offer of $31,000 above asking price.

So when the agent realized she had a four way tie, the seller's couldn't choose and they decided to have another highest and best.

Can you believe that!? Insanely nerve wracking for the buyer's involved.

Lesson learned, if you find yourself involved in a multiple bidding war, consider also what the other buyer's may be offering, if you think they will arrive at your number too, then throw in a little extra $$ to give yours the winning edge, you never know, it could literally be a matter of $100!!!

 Have you recently won or lost a bidding war? Share your experience!

Hoboken Real Estate Prices Jump

Buyers be ready: Hoboken real estate prices jumped from the first quarter to second quarter in 2012.

Hoboken's condominium supply once again continues to be shy of current demand. Second quarter sales total 211 while the Median Sales Price reaches higher than the Median List Price. Median Sale Price reported was $476,000 (the Avg Sales Price $525,699) compared with First Quarter Median Sale Price of $437,000. That's an increase of an amazing 8.1% in one quarter.

The Median Days On Market was a shocking 48 days, leaving many buyers stunned to this reality. Current inventory stands at just 220 units total, which leaves us with a current absorption rate of 3.6 months! Now may be the time to sell your Hoboken condo. If you are buying a property make sure you are armed with these numbers so you can make a good offer based on real numbers.

501 9th St Condo For Sale With Private Terrace

Happy house hunting!

Multiple Offers On Market 1 Week

Hoboken Real Estate Condo Market Update - May Report

My Hoboken Real Estate Condo Market Update is here!

It's been a busy selling season! There are lots of buyer's out there looking for homes, first time buyers and move up buyers alike. 

Maxwell Place Unit With Panoramic Views

Sales
For the month there were 69 units that sold. Up from April's 57 sales. From the lowest sold price of $235,000 for a 407 sq ft one bedroom at 160 2nd street, to the highest sold price of  a whopping $2.8Million (which was paid for in CASH) for a 2400 square foot 2 bedroom 3.5 bath with balcony, NYC views and parking at Maxwell Place.

The Median List Price for those units sold this month was $449,000 and the Median Sale Price was $440,000
The Median Days on Market was 32 days - Down sharply from April's 57 days on market.

You'll notice that the list to sale price ratio is very close, with a very small percentage off of the asking price. Simultaneously the time that it takes for a unit to list, and change to under contract status is decreasing.

Pending
For the month Hoboken condo's saw 86 units go under contract in May. Up from April's 70 units pending. 
From the lowest asking price of  $215,500 for a 530 sq foot one bedroom at 607 1st street to the highest asking price of $1.349Million for a 1768 square foot 2.5 bedroom 2 bath plus patio and parking at Maxwell Place condos.

The Median List Price for units pending was $493,500 and the Median Days on Market was 34 days just slightly up from Aprils rude awakening -  24 days on market time.

Check back every month for Hoboken real estate market updates! Search for Hoboken homes for sale on my website

Information provided by the Hudson County MLS, deemed reliable but not guaranteed.

Hoboken Condos For Sale At Metro Stop! Affordable two bedroom two baths, completely new

We've been busy at Metro Stop! These new condo's are the best valued two bedroom two baths in Hoboken. Elevator building, gym, community lounge, roof deck and so much more, this two bedroom line is blowing out fast.

It offers 1122 sq, hardwood floors, granite kitchen with stainless steel appliances, central air, laundry in unit, two full beautiful baths and more! Don't miss them, they'll be gone soon. There are only a few left, so if you're interested please email me for a private appointment or for open house info.

Click here for full listing info and pics!

My hoboken real estate update:

Just Sold!! 3-1-2010
1313 Park Avenue #4A
Hoboken, NJ 07030

Elevator building in prime uptown location. Top floor condo with a fantastic layout; master suite, open concept kitchen / living room, hard wood floors throughout, gas burning fire place and two bedrooms plus two full baths.

Bedrooms are on opposite ends for maximum privacy.

1100 square feet. One car garage parking space was included in sale.
List Price $539,000
Sold for $517,500
Factor $30,000 off for parking = 443.18 a square foot

Currently unit 4B, just next to this one is listed for sale and asking $539,000. If you or someone you know might be interested please contact me for more information.

Hoboken Real Estate | Home Buyer Tax Credit | Get The Facts

Real estate is heating up steadily and it is because of a combination of factors.

• One - the home buyer tax credit is expiring
• Two - interest rates are very low and we're not sure when they'll go up
• Three - Spring market is soon upon us
• Four - Distressed sales opportunities

Combine all of these incentives and the natural increase in market activity during spring, and we are going to see a very busy season. If you look in my past posts I've been reporting that sales activity and interest is way way up. Multiple offers are becoming more common and we're seeing some properties be snatched up after only a few days on the market... it will be very interesting to see how this projects into 1st and 2nd quarter sales.

If you are looking to buy in the near future, you need to know a few things.

Reminder : Important dates are April 30th and July 1st! Below are the facts:

Facts about the Homebuyer Tax Credit:

• You must have a signed purchase agreement for your home no later than April 30, 2010, and the transaction must closed before July 1, 2010.
• First-time buyers receive a credit of 10 percent of the purchase price, up to $8,000. You are considered a first-time buyer if neither you nor your spouse has owned a principal residence in the U.S. within the last three years.
• Buyers who owned and lived in their principal residence for at least five consecutive years of the last eight can receive credit of up to $6,500 when they contract to purchase a home before April 30, 2010, and close before July 1, 2010.
• The upper income limit to receive the full credit is raised to $125,000 for individuals and $225,000 for couples.
• If the purchase price is more than $800,000, the buyer is not eligible for the credit.
• There is no minimum income for claiming the credit. You qualify for the full credit even if you won’t owe any taxes for 2009 or 2010.
• You can claim the credit when you file your 2009 or 2010 tax return. And you can even apply the credit to your down payment for the purchase of an FHA-insured home.

Create your own profile on my website and start searching for properties all over New Jersey. Save searches, view full pictures and details without having to contact various companies or create many profiles - RE/MAX.com is one of the leading consumer websites for real estate in the industry. Plus, RE/MAX.com is one of the few sites that feeds off of all of the multiple listing services and compiles status updates and new listings almost immediately.

Go to www.myhobokenproperties.com