I have scrutinized the numbers and here is the breakdown: the sales in one bedrooms average a price of %389,910 and a length of 90 days on the market.
The vast majority of two bedrooms sold between $400,000-$600,000. Overall, we have seen a drop of about 20% in prices from the height of the market. Hardest hit have been fourth and fifth floor walk-ups and properties that have not been renovated.
In the recent sales not closed (DABOs), the average sale price of a two bedroom, eliminating extremely large units or units in Maxwell Land or Garden Street Lofts (the two most expensive buildings in town) is about $540,000.
In the 3 bedroom DABOs, which range from 1324 to 1701 square footage, the average was $697,314 with a lengthy 118 days on the market.
In the house market, sales have finally picked up a bit. However, prices are also 20% or more off from the height of the market.
Friday, August 21
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Hoboken Realtor on Real Estate Now
Welcome to First Exit in New Jersey!
I am Stacey Morrison, a veteran of real estate sales in Hoboken, NJ. This blog is a straight-up discussion of real estate here from a Realtor's professional point of view.
Please feel free to write me with questions or comments. :)
I am Stacey Morrison, a veteran of real estate sales in Hoboken, NJ. This blog is a straight-up discussion of real estate here from a Realtor's professional point of view.
Please feel free to write me with questions or comments. :)
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