Hoboken Real Estate Year Condo Report 2013

What a year! My Hoboken real estate 2013 condo report shows huge gains from 2012. Hoboken condo owners can finally breathe.

I can describe the year in one word - COMPETITIVE  
Buyers and their agents had to work harder to buy a home due to multiple bid scenarios and very little inventory. Sellers had the advantage this year and buyer's were forced to pay.


All Hoboken condo sales for 2013 

Median Sale Price was $540,000 UP 14.8% from 2012's Median Sale Price of $470,000
Total Units Sold were 1024 UP 35.9% from 2012's Total Units Sold of 753


Break Down
Studio Market - 24 sales for the year
One Bedroom Market - 330 sales for the year  = $409,000 Median Sale Price
Two Bedroom Market - 553 sales for the year = $580,000 Median Sale Price
Three Bedroom Market - 105 sales for the year = $792,000 Median Sale Price
Four and Five's were the remaining.

The Median Days On Market for all condo sales in Hoboken was just 21 days reflecting the competitive nature of 2013.


2014 Start of the Year Sales

January 2014 shows 49 units sold DOWN from 82 in December. And a Median Sold Price of $504,000 above the Median List Price of $499,000 but slightly down the Median Sold Price of December of $506,000.

It is normal for sales to dip in February but you can see that prices have not been affected much as inventory is still tight and buyers are shopping in these cold months.

Hoboken Real Estate Market Update - Q1 Report

Hoboken Real Estate Market Update - Q1 Report

Happy Spring!

It's no secret our real estate market has turned around. Buzz is out that our market is hot. And that's for many reasons.
Let's review briefly the factors that got us here.

• Low housing starts (builders stopped building when the market was soft)
• Scared buyers turned to renting (rental prices went way up turning those renters into buyers late 2012&2013)
• Inventory was low (sellers stayed in their homes longer than they would have because of low sale prices)
  
• Low mortgage rates (buyers and sellers are taking advantage by locking in low rates)
• Buyers continue to enter our real estate market 
• Seller's took advantage of high rents and decided to rent instead of sell

So, with all of this, it's easier to make some sense out of why the current market is so competitive. Add to that -- it's Spring! Traditionally this is the best time of year to sell and it's when most people look to buy.

First quarter real estate condo sales in Hoboken broken down by month:

January: There were a total of 44 condo sales in Hoboken. Their Median List price was $559,500 and their Median Sale price was $558,000. Median Days on Market - 30 days.

65 condo units changed their status to pending the same month of January.

February: There were a total of 35 condo sales in Hoboken. Their Median List price was $549,000 and their Median Sale price was $516,000. Median Days on Market 14 days.

70 condo units changed their status to pending the same month of February.

March: There were a total of 60 condo sales in Hoboken. Their Median List price was $549,000 and their Median Sale price was $530,000. Median Days on Market was 28 days.

112 condo units changed their status to pending the same month of March.

First Quarter Condo Sales in Hoboken

139 Sales  

$539,000 Median List Price

$530,000 Median Sale Price ----------- up from The Median Sale Price of 4th QR 2012 $485,000

Median Days on Market 24 days. 

Compared with First Quarter Condo Sales in 2012

137 Sales

$459,000 Median List Price

$437,000 Median Sold Price

Median Days on Market 48 days.

Check back often for the Hoboken Real Estate Market Condo Update on my blog every month! And you can search for homes on my website at www.karinaabad.com

Information collected from the Hudson County MLS, deemed reliable but not guaranteed.

Hoboken Real Estate August Sales Update

A Kitchen At The W Residences Hoboken

Happy Labor Day! Here is Hoboken's Real Estate August Sales Update

As the summer comes to an end, summer sales remain steady as Hoboken is still affected by a current inventory shortage and a large pool of buyers looking to make the jump into home ownership and locking in a low mortgage rate. As September rolls in, we expect to see a bump in homes available but not in competition as there is currently lots of demand for Hoboken homes. 

Sales:
For the month Hoboken condos saw a total of 83 units close. Up from 77 sales in July. From the lowest sale price of $191,000 for a studio short sale at 157 7th St to the highest sale price of $1.955 Million (P.S. that was CASH) for a eco friendly, green, 2650 sq ft 4 bedroom 3 bath with yard, in ground garage at 124 Park Ave.

The Median List Price for the month was $499,000 and the Median Sale Price was $480,000. The Median Days On Market was 32 days.

Pending:
Also in August, 55 units changed their status from active to pending. From the lowest asking price of $265,000 for a 631 sq ft one bed plus den at 131 Madison St, to the highest asking price of $999,995 for a 1504 sq ft 3 bedroom 2 bath at Tolls Brothers 1450 Washington St.

The Median List price for those units pending was $450,000 and the Median Days On Market was just 28 days.


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

Hoboken Real Estate Condo Market Update

610 Clinton St 3 Bed Loft

My Hoboken Real Estate and Condo Market Update for July is here!
I'm excited because it's summer :)

SALES
For the month of July Hoboken saw 74 units close. From the lowest price, and smallest, 269 sq ft studio with an asking price of $192,500 sold for $187,000; to the highest sale price at 1125 Maxwell Place for a 1749 sq ft 3 bedroom plus den 3 bath condo with balcony and parking, an asking price of 1.385Million and sold to the highest bidder at 1.550Million

The Median List Price for all units sold in July was $525,000 the Median Sold Price was $516,500. The Median Days On Market was 36 days.

PENDING
July also showed a total of 66 units change their status from active to Pending. With the lowest priced unit a starter 500 sq foot one bedroom  at 509 Monroe with an asking price of $239,000 to the highest price home at 610 Clinton St, 1925 sq ft 3 bedroom 2 bath with private elevator, garage and roof deck, with a price tag of $1.099Million

The Median List price for all units pending in July was $449,250 and the Median Days On Market was 39 days.

As you can see Hoboken real estate is moving at a relatively quick pace. With the days on market time less than 45 days.

Currently inventory as of today, is just showing 198 condo's for sale. This is proving to be difficult for buyers looking for homes as there is little to choose from, but it is an advantage for seller's and this could be a great time to sell. We are still averaging about 70 units a month close, which means our market has just about 3 month's worth of inventory, indicating that we are tilting towards a buyer's market.

If you're looking for a Hoboken condo be sure to visit my website to search what's available. Check back next month for another Hoboken Real Estate Condo Market update!

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 Real Estate Condo Sales And Brownstone Update

Hoboken Real Estate Condo Sales And Brownstone Update

December 2011 Sales

Sales
There were 57 sales close for the last month of the year.(Compared with 31 units in November and 45 units in October) The lowest price was a studio at 1021 Grand St Hoboken, with a list price of $243,000 and a sale price of $227,500. The highest price sale was a 2.5 bed, 2.5 bath unit at Maxwell Place with a list price of $2.193Million and a sale price of $2.137Million.

The median list price for the month was $435,000 and the median sale price for the month was $417,500. The median days on market was just 48 days.

Units Under Contract
For December, 32 new contracts were written (compared with 33 units in November and 17 units in October) Their median list price was slightly higher at $482,950 and the median days on market slightly up to 53 days.


Hoboken Brownstone Sales
Two Hoboken Brownstones sold in the month of December. 208 Hudson St, a 5 bedroom 3.5 bath with backyard and a list price of $1.625Million sold for $1.450Million;
And 932 Hudson St, offering a flex 5/6 bedrooms 3.5 bath with backyard and a list price of $1.999Million sold for $1.810Million

Two more brownstones / single family homes are under contract for the month. 310 Park Avenue 5 bedroom two baths with a list price of $725,000 and 1203 Park Ave, 4 bedroom 4 baths and a list price of $1.125Million are waiting to close.


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

Hoboken Real Estate - Condo Market Update - November Report

Hoboken Real Estate | Condo Market Update | December Report

A different format for this month's report. Hoping the grids are a little more reader friendly.  Let me know what you think!

The month of November saw 30 units Sold compared with October Below

 (Median Sale Price for November Is UP)

Price per square foot is also UP from October

But Prices From November 2010 and PPSFT seem unchanged, except that there were more sales last year this month, showing that effectively, prices are higher in 2011 if there are less sales at the same price.

November Units Sold - 30

CONDO-COOP Summary Statistics
	HIGH	LOW	AVERAGE	MEDIAN
LP:	$1,275,000	$229,900	$510,421	$468,000
SP:	$1,215,000	$220,000	$492,855	$459,875

Average Price/Sq Feet

$464.71

October Units Sold - 44

	HIGH	LOW	AVERAGE	MEDIAN
LP:	$2,135,995	$269,000	$523,847	$449,450
SP:	$2,090,045	$250,000	$510,000	$438,000

Units Pending - Total of 42 for November 

	HIGH	LOW	AVERAGE	MEDIAN
LP:	$1,275,000	$259,000	$517,088	$457,450

Average Price/Sq Feet

$455.86

Compared With October - total of 41 units

	HIGH	LOW	AVERAGE	MEDIAN
LP:	$1,499,999	$198,500	$528,080	$439,000

Average Price/Sq Feet

$446.05

Compared With November 2010 - total of 47 units Sold

	HIGH	LOW	AVERAGE	MEDIAN
LP:	$1,679,995	$229,000	$542,118	$475,000
SP:	$1,634,840	$180,000	$521,167	$459,990

Average Price/Sq Feet

$466.12

Hoboken Real Estate - Condo Market Update - August Report

Hoboken Real Estate - Condo Market Update - August Report

Summer is almost over! Wow how time flies. September is here and in just a few weeks the leaves will start to turn...

And if you're watching the Hoboken Real Estate Market, here are August's numbers. If you are looking for a home, and it feels like there is nothing available, or units are coming off the market before you can see them, that's because inventory is low. 
Currently there are just 291 units for sale. (319 total including single family and multi family homes) Compared with the same quarter last year, there were 530 homes for sale. (All classes included)

Hoboken Condo Sales: August
For the month, Hoboken closed a total of 61 units. From the lowest sale price of $190,000 to the highest sale price of $1.59Million.

By Bedrooms: 2 Studios, 22 One bedrooms; 31 Two bedrooms; and Six Three bedrooms.

Median list price for all sales was $444,999 and the median sales price was $420,000. Average days on market was 76 days.

One Bedrooms - Average List Price  $357,849 Average Sale Price $342,427 
Average price per square foot was $474.48 and average days on market was 93 days.


Two Bedrooms - Average List Price $534,093 Average Sale Price $520,651
Average price per square foot was $473.38 and average days on market was 66 days.

Three Bedrooms - Average List Price was $824,516 Average Sale Price was $796,666
Average price per square foot was $472.72 and average days on market was 69 days.

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

Hoboken Real Estate Condo Market Update

Hoboken Real Estate Condo Market Update

Week of May 16th, 2011

Condominium Sales:
For the week there were 11 sales reported in Hoboken. From the lowest, a 700 sq ft 1 bedroom on 4th and Madison priced at $209,900 and sold for $202,500; to the highest, a Hudson Tea condo, three bedroom three bath with partial NY views and parking, 1640 sq ft and a list price of $825,000 sold for $810,000.

Median list price for the week was $475,000 and median sale price was $472,500. Average days on market was 67 days.

Condominiums Pending:
There are 10 units that reported under contract for the week. From the lowest price, a small one bedroom on 2nd and Monroe with a list price of $229,000 to the highest price, a 1000 sq ft one bedroom with parking at the Hudson Tea with a list price of $500,000.

Median list price for the week was $399,450. Avg days on market 110 days.

So far this month there are a total of 45 units that went under contract. 44 have sold so far this month, and there are about 400 active.

We will see how many units close and go pending in the next week to see how May we did for the month.


Brownstones and Single Family Sales
Two homes reported sold for the week.
22 Willow Terrace - a three bed, 1 full bath two half bath triplex with a list price of $619,000 sold for $618,000.
1211 Garden - a true brownstone, a four bedroom four bathroom triplex with a list price of $1.795Million sold for $1.740Million

Hoboken Real Estate Weekly Market Update

Hoboken Real Estate Weekly Market Update

Week of April 18th 2011

Condo Sales
For the week there were a total of 7 sales. From the lowest a, 562 sq ft one bedroom at 60 Monroe, with an asking price of $279,000 and a sale price of $265,000. To the highest, a 1324 square foot two bedroom two bath, fourth floor walk up with roof deck and an asking price of $499,000 (multiple reductions) and a sale price of $469,500.


Median list price for the week was $439,000, median sale price was $420,000. Avg days on market was 87 days.

Condo's Under Contract
For the week there are a total of 17 units that are waiting to close. From the lowest, a 660 sq foot one bedroom plus den fixer upper listed at $249,000 to the highest, a 2600 sq ft 4 bedroom 2 bath duplex with roof rights and 4 car garage and asking $1.339Million.

Median list price for the week was $479,000. Avg days on market was 54 days.

Single Family Homes And Brownstones
Two single family homes are under contract for this week. 20 Willow Terrace, a 3 bed one bath home asking $569,000 and 711 Park, a 3 bed two and a half bath home with an asking price of $1.26Million.
Brownstones are hot this Spring Market as there have been numerous reports of multiple bid scenarios on single family homes.  Currently there are just 18 homes for sale ranging from $474,000 to $2.495 Million.

No sales for the week.

Hoboken Real Estate Market | Condo's And Brownstones Update

Hoboken Real Estate Market Condo's and Brownstones Update

Week of March14th thru March 20th, 2011

Condo Sales
For the week there were 6 sales, same as the week prior. From the lowest at 535 Bloomfield, a 749 square foot basement level one bedroom with a list price of $285,000 and a sale price of $265,000. To the highest at 727 Monroe St, a 2BD 2BTH 1236 square ft with parking and a list price of $529,000 and a sale price of $495,000.

Median list price for the week was $313,950. Median sale price for the week was $310,000. Average days on market was 69 days.

Condos Pending
There are 19 units pending for this week, up one from the week prior. The lowest priced listing was a studio at 1015 Washington St asking $199,000, and the highest priced listing was a 4 bedroom at Maxwell Place with a list price of $1.19Million.

Median list price for those pending was $539,995. Average days on market was 111 days.


Brownstones
For this week there are no sales or no Hoboken Brownstones pending.

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

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?