Here are the final sales figures for August 2009 compiled using the Hudson County Multiple Listing Service.
The Hoboken condo market picked up steam and showed solid gains in August across all categories when compared to July 2009 stats. Total units sold improved by 15% (60 vs 69 units). Average prices rose 3.6 % ($478,431 vs $495,882) and median prices were up 10.7%, ($469,950 vs $475,000). The largest gain was in pending contracts. In August, there were 69 contracts signed, a 50% gain from the 46 contracts signed in July.
While these month over month gains are encouraging for our local market, they are still mostly down from the August 2008 figures. The exception was an increase in pending contracts, another sign that buyers may be getting off of the fence and into the market.
Here are the comparisons:
| |
August 2008 |
August 2009 |
Comparison: |
| Units Sold: |
73 |
69 |
-5.4% |
| Avg. Price: |
$534,422 |
$495,882 |
-7.2% |
| Median Price: |
$521,500 |
$475,000 |
-8.9% |
| Pending: |
67 |
80 |
+19.4% |
August 2009 Sold Condominiums:
| |
High |
Low |
Average |
Median |
Total Price |
Listing Count |
| List Price: |
$949,000 |
$289,000 |
$520,514 |
$499,000 |
$35,915,499 |
60 |
| Sold Price: |
$870,000 |
$270,000 |
$495,882 |
$475,000 |
$34,215,900 |
|
| DOM: |
479 |
4 |
125 |
73 |
|
|
|
Studio: none sold
1 bedroom: 23 sold.
Average asking price: $398,113
Average selling price: $382,865 (-3.8% of asking price)
Average days on Market: 70
2 bedroom: 40 sold
Average asking price: $563,327
Average selling price: $533,925 (-5.2% of asking price)
Average days on Market: 153
3 bedroom: 5 sold
Average asking price: $655,360
Average selling price: $638,900 (-3.0% of asking price)
Average days on Market: 180
4 bedroom: 1 unit sold
Asking price: $949,000
Selling price: $870,000 (-8.3% of asking price)
Days on market: 25
August 2009 – Pending Contracts. These are the deals that were consummated during the month and represents the current buying activity.
Pending Condos: 80
| |
High |
Low |
Average |
Median |
Total Price |
Listing Count |
| List Price: |
$1,259,000 |
$239,000 |
$490,452 |
$451,950 |
$39,236,195 |
80 |
| Sold Price: |
pending |
pending |
pending |
pending |
pending |
|
| DOM: |
523 |
3 |
104 |
85 |
|
|
|
Studio: 1 contract
Asking price was $499,900 and days on market was 94.
1 bedroom: 31 contracts
Average asking price: $372,462
Median price: 379,900
Average days on Market: 91
Median days on the market: 70
2 bedroom: 41 contracts
Average asking price: $519,299
Median price: $515,000
Average days on Market: 103
Median days on the market: 104
3 bedroom: 6 contracts
Average asking price: $858,275
Median price: $800,825
Average days on market: 170
Median days on market: 104
4 bedroom: 1 contract pending
Asking price was $749,000. Days on market was 135
Best,
Eddie
I hope you find this info useful.
As always, don’t hesitate to contact me with any specific questions.
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