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Hoboken Real Estate 30 day report
May 27, 2009 by admin · Leave a Comment
Click Here for a new Hoboken real estate report. If you are not at a page that has been updated in the last 30 days, please go to our homepage where we typically update the market activity monthly.
So as we approach summer, I figured I would begin to report on sales activity over a 30 day span for Hoboken real estate. I should wait until the end of the month to do this considering it is only May 27 today, but what the heck. Let’s give this a whirl and I’ll also report sales for the year from here on out. This report is predomintly Hoboken condos for sale that have sold.
From April 27 to May 27, there have been 35 closed sales, not counting rentals. Since April 27, the highest closing was $970,000 at The Constitution in uptown Hoboken. The asking price was originally $1,085,000 and was only on the market for 66 days. This Hoboken condo had 2 bedrooms and 2 baths and boasted over 1,400 sq. ft.
The cheapest home that went, sold for $265,000, originally asking $279,000. This was a condo, 1 bed 1 bath on 4th & Jefferson on the third floor of a walkup brownstone.
Let’s get to averages. All closings considered equal, the average list price of a home that sold was $536,374. The average sold price was $494,610 with an average of 76 days on the market.
So there you have the last 30 day Hoboken real estate activity report. Market conditions are still heavily favoring a buyers market. Job losses remain the biggest culprit in our real estate market and home values have gone down about 1% over the last 6 months respectively. This does not mean, however, that there aren’t good deals out there. It takes a good agent to find one and don’t look any further than New Jersey Real Estate Guys of Liberty Realty. Give us a call to set up an appointment to see what works best for you.
Stay tuned for your next Hoboken real estate report. We are going to be looking at the past year of activity and see where we are heading. Keep in mind that many economists are predicting that the recession will end in 2009. That said, it is unfair to assume that everything will be peachy again. We still have the credit card fiasco, the Option ARM catastrophe that will be exposed, and the commercial real estate secter. It is going to be a long road to recovery, however there is no question that today is the day to start looking for your real estate deals. Sellers are negotiating like you won’t believe.
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