Many have asked me - how much has the market increased,(?) and since most of the sales in Hoboken are 2 bedroom condo's I've compiled a summary of quarter over quarter sales for 2012 to give you some insight.
Hoboken buyer's entered real estate early 2012 cautiously optimistic. Most said that they felt the market had bottomed out and rates were incredibly low. They also said they felt it would be a good investment to buy and hold.
By Springtime of 2012 there was a shift in the market and prices were trading in a fairly short amount of time- close to the list price. Since then, the momentum has continued as more buyer's enter the market but relatively few units are available for sale.
So, how did they do? Well, let's see.
Q1 (January 2012 thru the end of March 2012)
2 bedroom condo sales
The Median Sold price for all two bedroom sales in Q1 was = $485,000
Q2 (April 2012 thru the end of June 2012)
2 bedroom condo sales
The Median Sold price for all two bedroom sales in Q2 was = $525,000
Q3 (July 2012 thru the end of September 2012)
2 bedroom condo sales
The Median Sold Price for all two bedroom sales in Q3 was = $530,000
Q4 (October 2012 thru the end of December 2012) HAPPY NEW YEAR!
2 bedroom condo sales
The Median Sold Price for all two bedroom sales in Q4 was = $525,000
The Median Sold Price grew 7.6% from Q1 to Q4.
Thank you for reading my hoboken real estate blog and sales for 2012. Do you want me to post about something specific? Let me know I'd love to hear from you.
A Hoboken and Jersey City Real Estate Blog by Karina Abad, realtor at Keller Williams Towne Square. Real estate market news, condos, homes and brownstones, buying and selling tips and local community info.
Thursday, January 10, 2013
Monday, January 7, 2013
Hoboken Condo Market Sales Update
Hoboken Condo Market Sales Update
Despite the cold weather and the holidays, December saw more units sell than in November. While it took slightly longer to close, this number may not be accurate because of the effects of Hurricane Sandy and the delays it caused in closings. There is still a low amount of homes available for sale, just 108 condo units available and with an average of about 60 units closing a month in the last 6 months, we have an absorption rate favoring sellers of just under two months. HOWEVER, while prices are slowly increasing, we have seen some seller's price their homes 3-5% above the current market testing out this theory, but buyer's are savvy and some of these homes are taking longer to sell until they reduce their price.
HAPPY NEW YEAR! Hoboken has made positive moves in real estate!
For the month of December Hoboken saw a total of 59 units close. A small dip from 62 units last year of about 4.8% This is likely due to Hurricane Sandy and the disruption of units pending in November.
The Median List Price for the month was $485,000
The Median Sold Price for these units closed was $480,000 - an increase of about 12.5% from the previous December - Median Sold Price of $420,000 and just a 1% discount from the asking (list) price. The Median days on market was just 31 - a decrease of 3.5% from last December's 48 days on market
For the same month Hoboken saw 39 units change their status from active to pending. The Median List Price for those properties under contract was $525,000, and we'll know the Median Sold Price next month once they close. The Median Days on Market time was just 29 days.
I believe the number of sales in December would have been higher if not for Sandy. Looking at November's sales and comparing with November sales of 2011 we see another increase in the Median Sold Price (up 11.13%) and an increase in the amount of units traded (2.7% more).
In 2012 Hoboken real estate agents sold a total of 748 condominium units. This is an 8% increase from the number of sales in 2011.
The Median Sold Price for all condo's sold in 2012 was $470,000 (The Median List Price was $479,000) This is another increase of about 4.2% of the Median Sold Price of 2011.
The Median Days on Market was 33 days. This is a decrease (which is positive) of about 3.8% from the days on market in 2011.
Information provided and compiled by the Hudson County MLS, deemed reliable but not guaranteed.
Thank you for reading my condo market sales update, if you have any questions please don't hesitate to reach me. Check out my website to search for homes.
Despite the cold weather and the holidays, December saw more units sell than in November. While it took slightly longer to close, this number may not be accurate because of the effects of Hurricane Sandy and the delays it caused in closings. There is still a low amount of homes available for sale, just 108 condo units available and with an average of about 60 units closing a month in the last 6 months, we have an absorption rate favoring sellers of just under two months. HOWEVER, while prices are slowly increasing, we have seen some seller's price their homes 3-5% above the current market testing out this theory, but buyer's are savvy and some of these homes are taking longer to sell until they reduce their price.
HAPPY NEW YEAR! Hoboken has made positive moves in real estate!
For the month of December Hoboken saw a total of 59 units close. A small dip from 62 units last year of about 4.8% This is likely due to Hurricane Sandy and the disruption of units pending in November.
The Median List Price for the month was $485,000
The Median Sold Price for these units closed was $480,000 - an increase of about 12.5% from the previous December - Median Sold Price of $420,000 and just a 1% discount from the asking (list) price. The Median days on market was just 31 - a decrease of 3.5% from last December's 48 days on market
For the same month Hoboken saw 39 units change their status from active to pending. The Median List Price for those properties under contract was $525,000, and we'll know the Median Sold Price next month once they close. The Median Days on Market time was just 29 days.
I believe the number of sales in December would have been higher if not for Sandy. Looking at November's sales and comparing with November sales of 2011 we see another increase in the Median Sold Price (up 11.13%) and an increase in the amount of units traded (2.7% more).
In 2012 Hoboken real estate agents sold a total of 748 condominium units. This is an 8% increase from the number of sales in 2011.
The Median Sold Price for all condo's sold in 2012 was $470,000 (The Median List Price was $479,000) This is another increase of about 4.2% of the Median Sold Price of 2011.
The Median Days on Market was 33 days. This is a decrease (which is positive) of about 3.8% from the days on market in 2011.
Information provided and compiled by the Hudson County MLS, deemed reliable but not guaranteed.
Thank you for reading my condo market sales update, if you have any questions please don't hesitate to reach me. Check out my website to search for homes.
Tuesday, December 18, 2012
Hoboken Path Train Re-Opening Post Hurricane Sandy
A Christmas Miracle? The Hoboken Path Train is Re-Opening!!
Well not fully but this will be a huge relief to many
This statement from the city's website
The PATH train from Hoboken to 33rd Street will resume operation at 5:00am on Wednesday, December 19, 2012 and will operate seven days a week from 5am to 10pm. The restoration of 24/7 PATH service is expected by the end of the year in time for New Year’s Eve. Direct PATH service between Hoboken and the World Trade Center remains several weeks away pending ongoing repairs.
Hoboken commuters rejoice, this is definitely news to celebrate. Business owners and residents alike will be elated once news about the Hoboken PATH Re-Opening gets around. Help spread the word and watch people's reactions :D
Cheers! Happy Holidays!
Is this good news for you??
Saturday, November 17, 2012
RE/MAX Annual Thanksgiving Turkey Drive!
Hey guys! It's almost Thanksgiving! Our office last year put together 97 full dinners for families in need and this year we are hoping to do it again. Read an article about us on nj.com
If you would like to help again, please feel free to stop by the Pilsner Haus Biergarten in Hoboken (14th and Grand St) with a donation from the list below. If you are free you can hang out with us on Tuesday the 20th and help assemble the dinner baskets!
If you come by on Monday with a donation anytime between 6-9PM we will buy you a 1/2 liter of Pilsner Haus Original! :-) So you see - a great reason to come by with some goodies in tow!!
I hope you can make it, and if you can't but would like to help, let me know and I can pick up your goodies either this weekend or Monday afternoon/night.
Thank you for reading! And if you're already helping somewhere else --- right on!
xoxooxoxox
SHOPPING LIST - WHAT WE NEED FOR A MEAL
-Turkeys! (10 - 15 lbs)
- Stuffing (14 oz)
- Boxed Mashed Potatoes (15.30 oz) Canned Whole Potatoes
- Canned Veggies: 29 oz of
---French Cut Green Beans, Peas, Carrots, Corn
- Canned , cut yams (40 oz)
- Chicken Broth (48 oz)
- Cranberry Sauce (1 oz)
- Gravy Mix (1.2 oz) or Jarred Gravy (16 oz)
- Mushroom Soup (10 oz)
- Canned French Fried Onions (1 can)
- Spices: Thyme, pepper, rosemary, parsley
- Large Oval Roaster Pan
- Martinelli's Sparkling Cider
- Entenmann's APple or Pumpkin Pies (Please check dates for freshness)
FRESH VEGETABLES and Pies are accepted on 11/19 only
OR $50 donation feeds an entire family - we'll do the shopping for you!!
Any questions please call me at (201) 355-6171 or call my office at (201) 795-0100
We are at 56 Newark Street Hoboken NJ 07030
The Pilsner Haus Biergarten is Located at 1422 Grand St Hoboken NJ 07030
Monday, November 5, 2012
Hurricane Sandy Hoboken Jersey City Update
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| Picture from 415 Newark St |
"Hello friends, I hope this email finds you at least in good health. As I know many of you have suffered losses I wanted to send you some information to keep you updated in hopes that some of it will be helpful to you.
I am in the area, if you need help with something, please contact me.
Make sure to contact your insurance providers as soon as you can to start your claim filing process. If you find you need additional assistance please visit the below.
http://www.disasterassistance.
This website consolidates the application process across several Federal agencies, including FEMA and the Small Business Administration. The website also reduces the number of forms you will ultimately have to fill out, shortens the time it takes to apply, and allows you to check the progress of your applications online.
If you want to apply by phone rather than the Internet, you can call 1-800-621-FEMA (1-800-621-3362).
VOTING INFO - Please visit the county clerk's office for instructions on filing a mail ballot via email by today at 5PM or to find your polling location.
HOBOKEN:
Red Cross is on site and Mayor Dawn Zimmer will hold a conference outside city hall today at 2PM.
Garbage trucks are out collecting but there is tons of debris and garbage in the streets still.
The Hoboken parks have been reported contaminated, please do not take your children or dogs to play in the grass until the city clears them ok.
Health inspectors are out checking on restaurants before they can open to the public.
Part of Hoboken still do not have power - check this map for live updates as streets get lit. goo.gl/maps/Kb4PP
Food distribution locations in town are 7 PODs (10am-4pm): High School, 76 Bloomfield St, 1st & Jackson, 220 Adams, 5th & Park, 9th & Jefferson, 13th & Willow
PATH trains remain suspended. NJTransit buses resume and NYWaterway ferry is running. Both reported long wait and long lines, add extra time for your commute.
JERSEY CITY:
Jersey City still has thousands of residents without power, downtown jersey city recently announced that Paulus Hook has power.
Residents from 689 Marin Blvd and 700 Grove were forced to evacuate due to a possible structural issue after flooding created a buoyancy issue. Article here
PATH trains remain suspended. NJTransit buses resume and NYWaterway ferry is running. Both reported long wait and long lines, add extra time for your commute.
Meal Distribution Sites for Monday, November 5th, 2012,
Updated @11:00am.
Please keep in mind these sites frequently change. While
the changes are mostly daily, they may also
be every couple of hours on any given day. With such a fluid situation,
residents are encouraged to check back here frequently.
Curfew: The city just announced that the curfew has been lifted for vehicular and pedestrian traffic.
Curfew: The city just announced that the curfew has been lifted for vehicular and pedestrian traffic.
Hot Meals Will Be Served At the following sites at the approximate times on Monday, 11/5:
| Country Village College Little League Field |
1PM & 6PM |
| The HUB, 360 MLK Drive |
1PM & 6PM |
| Curries Woods Community Center, 63-65 Ruby Terrace |
1 PM & 6PM |
| Dr Ercel Webb Pool, 303 Van Horne Street |
1 PM & 6PM |
| Boys & Girls Club 1 Canal Street |
1 PM & 6PM |
| St. Paul's Lutheran Church Hall, 440 Hoboken Avenue |
**5 PM** |
| Red Cross MRE Meals & Water, West Side Avenue & Sip Avenue |
1 PM |
| Marion Gardens Community Room, Dales Avenue |
1 PM |
Friday, November 2, 2012
Update from Zog Sports and Volunteer Information
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Sandy and Your Closing, How Does The Hurricane Affect Your Transaction
If you are wondering how Hurricane Sandy will affect your closing here are a few things you will want to do.
One, reach out to your mortgage rep, once you or they have power, to ask how far out will your closing date be pushed back if at all.
Of course if you were due to close this week, you are undoubtedly delayed.
When natural disasters strike, mortgage companies will require an appraiser to do an inspection of the property, usually from the exterior, to see if any damage to your property was sustained before moving forward.
This typically happens very quickly after a disaster, and many times the agents and people involved in transaction are not notified. Your mortgage company will update you and let you know the inspection was done.
If your property did sustain damage due to flooding or fire or sewage etc, you will need to discuss with your attorney your options so you can best make a decision on how to proceed.
If property was not damaged, and all is ok your transaction will move forward as planned.
For Hurricane Sandy, the biggest hurdle right now from a real estate perspective, is the lack of power, this means documents can't be printed, communication lines are blocked and the obvious location of the actual closing is an issue.
If timing is of critical importance, you should reach out to your attorney or your agent to contact other side. Perhaps an arrangement can be made, such as buyer moving in early or just moving in furniture and boxes until actual close.
This is when, being nice and reasonable throughout a transaction can help in the face of a terrible stress filled situation as the case with Hurricane Sandy and the devastation to Hoboken and Jersey City.
Remember, there are many people involved in a closing, title company, insurance company, mortgage company, attorney's, buyer's, seller's and real estate agents, they all have to be able to participate in your close.
Monday, October 29, 2012
Hoboken The Place For Singles
Hoboken once again is rated #1 for the top place to live if you're single. Bloomberg reported that Hoboken took the number one spot among 17 other cities across the nation.
For the study Bloomberg looks at the median household income for each single member against the national average and the amount of single people living in the area from the ages 15-64 citing data from the U.S. Census Bureau of 2006-2010.
According to the report Hoboken is at the top of the list with men in that age group taking home a median income of $94,500 and women making an average of $77,631. (Lily Ledbetter Act plug here please)
According to the U.S. Census Bureau, the median age for a first marriage increased to 26.1 for women and 28.2 for men in 2010 up from 25.1 and 26.8, respectively, in 2000
The Fiscal Times reports that the age for marriage has increased due to the weak economic recovery. I don't know if that in itself is enough to sway us to wait longer to hitch. Personally I think cities like Hoboken and NYC are filled with people that have a deep drive for success and it's difficult to build a relationship when you're worried about getting to the top or landing your dream job.
Could it also be that marriage just doesn't seem as appealing anymore to some? From a cost analysis perspective marriage is very expensive and then there's children.
Whatever the case may be, Hobokenites enjoy their happy hour after work and their night out almost any day of the week. And I say it's healthy to be on the scene for a while until you figure out what you really want in life and from a partner (in that order :) )
Whether you're looking to "Put A Ring on It" or "Mr Right for now", Hoboken is yet again the number one place to look! Search for a Hoboken home on my website.
Are you single by choice? Have you met someone in town? Would love to hear!
See what other cities made the top places to live for singles and how Hoboken compares
For the study Bloomberg looks at the median household income for each single member against the national average and the amount of single people living in the area from the ages 15-64 citing data from the U.S. Census Bureau of 2006-2010.According to the report Hoboken is at the top of the list with men in that age group taking home a median income of $94,500 and women making an average of $77,631. (Lily Ledbetter Act plug here please)
According to the U.S. Census Bureau, the median age for a first marriage increased to 26.1 for women and 28.2 for men in 2010 up from 25.1 and 26.8, respectively, in 2000
The Fiscal Times reports that the age for marriage has increased due to the weak economic recovery. I don't know if that in itself is enough to sway us to wait longer to hitch. Personally I think cities like Hoboken and NYC are filled with people that have a deep drive for success and it's difficult to build a relationship when you're worried about getting to the top or landing your dream job.
Could it also be that marriage just doesn't seem as appealing anymore to some? From a cost analysis perspective marriage is very expensive and then there's children.
Whatever the case may be, Hobokenites enjoy their happy hour after work and their night out almost any day of the week. And I say it's healthy to be on the scene for a while until you figure out what you really want in life and from a partner (in that order :) )
Whether you're looking to "Put A Ring on It" or "Mr Right for now", Hoboken is yet again the number one place to look! Search for a Hoboken home on my website.
Are you single by choice? Have you met someone in town? Would love to hear!
See what other cities made the top places to live for singles and how Hoboken compares
Hurricane Sandy Update In Hoboken
Some quick updates for you on Hurricane Sandy's impact thus far in Hoboken - be safe everyone! You can sign up for automatic text alerts from the city direct to your phone by registering here.
As Hoboken residents brace for another storm that is expected to do significant more damage than Irene, updates are streaming in live on Twitter via residents, bloggers and city officials.
As of earlier today, the city of Hoboken announced a curfew for all vehicles on the road after 4PM. Driving is not permitted in Hoboken after 4PM
Power outages are currently being reported in Southwest area in Hoboken
Trash pick up has been cancelled for today and tomorrow
Meter's are suspended today and tomorrow
Residents who live in ground level or basement apartments were ordered to evacuated by midnight last night.
All Hoboken public schools are closed today and likely tomorrow.
Make sure you avoid all barricaded streets. Run off waters are a combination of sewer water and rain water. Be careful not to walk on streets with high water levels as man whole covers could be missing and you may step into a whole. Stay away from power lines for protection of possible electrocution.
All NJTransit service is suspended today through tomorrow
Just announced that the Holland Tunnel is closing NOW
Shelter info:
The City will open a shelter at the Wallace School, located at 1100 Willow Avenue at 8pm. Residents going to the shelter may bring medication, a small toiletry bag, clothing for up to 3 days, and 3 days of baby supplies including diapers and formula. Pets are permitted and must be crated. Please bring enough pet food for three days. Residents who wish to donate non-perishable food for the shelter may drop off items at City Hall.
 |
| Tweeted by @TheBoken |
As Hoboken residents brace for another storm that is expected to do significant more damage than Irene, updates are streaming in live on Twitter via residents, bloggers and city officials.
As of earlier today, the city of Hoboken announced a curfew for all vehicles on the road after 4PM. Driving is not permitted in Hoboken after 4PM
Power outages are currently being reported in Southwest area in Hoboken
Trash pick up has been cancelled for today and tomorrow
Meter's are suspended today and tomorrow
Residents who live in ground level or basement apartments were ordered to evacuated by midnight last night.
 |
| Tweeted by @michaelStefano |
Make sure you avoid all barricaded streets. Run off waters are a combination of sewer water and rain water. Be careful not to walk on streets with high water levels as man whole covers could be missing and you may step into a whole. Stay away from power lines for protection of possible electrocution.
All NJTransit service is suspended today through tomorrow
Just announced that the Holland Tunnel is closing NOW
 |
| Downtown JC picture courtesy of NJ.com |
Shelter info:
The City will open a shelter at the Wallace School, located at 1100 Willow Avenue at 8pm. Residents going to the shelter may bring medication, a small toiletry bag, clothing for up to 3 days, and 3 days of baby supplies including diapers and formula. Pets are permitted and must be crated. Please bring enough pet food for three days. Residents who wish to donate non-perishable food for the shelter may drop off items at City Hall.
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